Politics & Government

How much money has HB2 cost North Carolina?

Chris Sgro, a Democratic member of the N.C. House of Representative and an LGBT rights activist, has repeatedly called on Republican leaders to repeal HB2.

The law has already cost North Carolina’s economy $500 million, Sgro said, as businesses, performers and conferences cancel in a show of support for gay and transgender people.

But when PolitiFact NC dove into the numbers, that $500 million claim turned out to be vastly exaggerated. Sgro combined money the state’s economy could potentially lose with money that has already been lost. For a detailed accounting, continue reading here:

Fact check

Speaker: Rep. Chris Sgro

Statement: “We’ve already lost $500 million in economic impact” from HB2 fallout in North Carolina.

Ruling: It’s true that the state might eventually lose up to $567.5 million in economic impact, according to one study. Sgro was using that number, but the vast majority of that money hasn’t already been lost, like he claimed it had been. We rate this claim False.