Friday, May 22, 2009
It has been five years since Massachusetts decided to legalize same-sex marriages, and the decision has proven to be a smart one from an economic standpoint, argues The Williams Institute at UCLA. According to two studies produced by the institute, which specializes in sexual orientation law and public policy, Massachusetts has attracted a greater number of young, highly educated professionals because of the gay marriage law, resulting in a double win for the state’s economy.
First, the influx of more members of the “creative class” (everyone from entertainment professionals to scientists and professors) has meant more high-wage earners living in Massachusetts. Secondly, same-sex couples have spent an average of $7,400 on their weddings in Massachusetts, with one in ten couples spending more than $20,000. All together, gay weddings have produced a windfall of more than $100 million for the local economy, benefiting florists, caterers, hotels, bakers, restaurants, and other businesses.
A similar benefit is being predicted for Maine, which legalized gay marriage earlier this month. The Williams Institute claims same-sex weddings will boost the state budget by $8 million annually.
-Noel Brinkerhoff
After 5 Years of Extending Marriage to Gay Couples, New Studies Show Massachusetts Has Attracted Highly-Skilled Workers and Experienced Economic Boost of Over $100 Million (Williams Institute press release) (PDF)
The Business Boost from Marriage Equality: Evidence from the Health and Marriage Equality in Massachusetts Survey (Williams Institute) (PDF)
The Impact on Maine’s Budget of Allowing Same-Sex Couples to Marry (Williams Institute) (PDF)
Gay Marriage is Good for the Economy (AllGov)
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