Chamber CEO says group still measuring economic fallout from HB2

Charlotte Chamber CEO Bob Morgan said Tuesday the organization is still tallying the negative economic impact of House Bill 2, and that the long-term fallout over the legislation remains unclear.

Morgan’s comments, delivered at an event on foreign investment in the Carolinas, came after the NBA on Thursday said it’s moving its 2017 All-Star Weekend out of Charlotte. The NBA yanked the event, which experts estimated could have brought a $100 million economic impact to the region, over concerns about the state’s controversial law limiting protections for LGBT individuals.

The loss of the event marked the latest economic blow to Charlotte over HB2, whose financial impact so far on the region is not completely known, Morgan said.

“We are still trying to figure out and measure the specific impact,” Morgan said.

“We know that some jobs, a significant number of jobs, have been lost. We know that we continue to grow jobs, and we’ll have some numbers later this week that will bear that out. So, we’re still growing.”

The long-term impact “is really the question, both on our ability to attract companies but also talent – in particular, young talent,” Morgan said.

He cited HB2, including the loss of the NBA All-Star Game, as a new potential challenge to Charlotte’s efforts to lure foreign investment.

“What further impact does that have?” he said.

This story was originally published July 26, 2016 at 5:47 PM with the headline "Chamber CEO says group still measuring economic fallout from HB2."