I wanted to write a blog about gay marriage more than a year ago. I never did for two reasons: First, I didn’t have a lot of facts and figures and secondly, I don’t mix politics with business. But wherever you stand politically, you can’t deny the business-side of it. Now I have some facts and figures.
[EDIT 6/29/13: The link to the AP article no longer works. Here is a recent ABC news report about the economic impact after the June 2013 Supremer Court ruling on California’s Prop 8: http://abcn.ws/155Ri6c]
Associated Press article about the recent passage of gay marriage proposals in Maine, Maryland and Washington looks at the economic impact of gay marriage. This is a no brainer to anyone who is married or planning a wedding: Weddings are EXPENSIVE! The AP reports:
… the laws should generate at least $166 million in wedding spending in the three states over the next three years from in-state couples alone, boosting tax revenues and creating new jobs.
Wedding-related spending for in-state couples is projected be about $16 million in Maine, $63 million in Maryland and $89 million in Washington.
The numbers go up when figuring in out-of-staters who travel to those states to be wed.
With local and state governments looking for ways to make ends meet, having an influx of marriage licenses certainly can’t hurt. Then think of all the business owners that are in the wedding industry:
And last but not least…PHOTOGRAPHER! Opening up marriage to more people is essentially opening your doors to more customers. If you are a wedding photographer in one of the states mentioned above, start planning now on how you will market to your new customer base. You’re about to get a lot busier.