According to the Economist, the “Effects of 'religious freedom' outrage could be long-lasting.” The article states that while the political outrage over Indiana's Religious Freedom Restoration Act will inevitably fade, Indiana and its capital city will face "long-lasting" economic repercussions from the divisive law, which has stoked widespread fears of discrimination.
There have been dozens of articles and statements making the same point. In fact, the New Orleans Convention and Visitors Bureau has stated, "The adoption of certain types of overreaching, problematic and divisive legislation in Louisiana has the possibility of threatening our state's third largest industry and creating economic losses pushing past a billion dollars a year and costing us tens of thousands of jobs.”
Tangible Threats to Indy’s Economy:
- Events, including Gen Con, a gaming convention with an economic impact upwards of $50 million, initially threatened to leave Indy. Salesforce, a tech company that acquired Indianapolis-based ExactTarget for $2.5 billion last year, promised to "dramatically reduce" its investment in Indiana and to stop sending its employees to the state for various programs.
- Angie's List will pull out of a $40MM pending deal with the state and city to expand its headquarters in Indianapolis because of his disagreement with the state's passage of the "religious freedom" law.
- NCAA President Mark Emmert made it clear the association wouldn't tolerate discrimination and was willing to take its business out of Indiana if the state's religious objections law wasn't fixed to his satisfaction.
Press Clips on RFRA and the Economy
Economist: Effects of 'religious freedom' outrage could be long-lasting
The Atlantic: The Economics of Religious Freedom Bills: Legislation signed in Indiana this week could allow businesses to discriminate against same-sex couples. Other companies are hitting back. http://www.theatlantic.com/national/archive/2015/03/the-business-of-religious-freedom-bills/388898/
Indiana businesses concerned over economic impact of religious freedom bill
Indiana’s Religious Freedom Restoration Act Is Bad for Business
Indiana Already Experiencing Negative Economic Impact of ‘Religious Freedom’ Law
Will Indiana's new religious freedom law have local financial impact?
Indiana feels power of the boycott purse
Religious freedom law's economic damage immeasurable