Wednesday, June 6, 2007

Same Sex Wedding Economic Impact

Same-Sex Weddings Good for NYC Economy


NEW YORK, NY June 05, 2007 —Weddings are a multi billion dollar industry - millions of which are spent here in New York. City Comptroller William Thompson used that argument today to say same-sex marriage would be good for the state economy and to urge state legislators to act on a languishing bill.

REPORTER: Thompson estimates that in the first three years of allowing gay marriage the city would attract an additional $142 million in wedding spending.

THOMPSON: The economic benefits would be derived primarily from wedding related spending by residents and visitors along with spending by their out of town visitors and guests.

REPORTER: He says there is one economic downside. New York City businesses would have to spend $33 million more in health insurance costs to employees' spouses. Governor Spitzer has proposed same-sex marriage legislation but state lawmakers are deeply divided on the issue.

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