Same-Sex Weddings Good for NYC Economy
Tuesday, June 05, 2007
New York, NY —
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.