Study: Same-Sex Marriage Could Boost New York's Economy

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Is a $391 million revenue increase enough to bring same-sex marriage to New York state?

Hey, New Yorkers. Looking to boost your economy? The State Senate's Independent Democratic Conference has two words for you: marriage equality.

In a new report, the IDC revealed that marriage equality in New York state would "generate $391 million in economic activity, revenue, and savings during the three years after it is made into law." The group estimates that over 20,000 gay and lesbian couples would look to get married, with over 40,000 out-of-state gay and lesbian couples traveling to New York for a "destination wedding." Facebook Adds Relationship Status Aimed At Same-Sex Couples

 

With the sudden surge of marriage, the IDC estimates the state would see an increase in wedding revenue and tourism, marriage license fees, sales taxes, and in NYC hotel occupancy taxes. 

Other states have seen economic growth from marriage equality bills, for example California circa 2008. When the Golden State finally allowed for same-sex couples to get married, the state saw almost a $700 million boost from direct spending alone.

So, it would seem like a smart economic move for New York to follow suit. While same-sex marriage opponents persist, New York Governor Andrew Cuomo is hard at work to reverse the outcome of a failed 2009 gay marraige bill. As part of his "People First" campaign, the governor is vowing that the fight for marriage equality will prevail.