Yesterday: forced marriages in Iran. Today: same sex marriages in California. It’s June after all.
Businessweek reports on a new study released by the Williams Institute at UCLA School of Law. It reads in part:
Same-sex weddings could create hundreds of new jobs and pump hundreds of millions of dollars into California’s economy…
Gay couples are projected to spend $684 million on flowers, cakes, hotels, photographers and other wedding services over the next three years… The nuptial rush is expected to create some 2,200 jobs.
…Over the next three years, gay weddings will generate $64 million in additional tax revenue for the state, and another $9 million in marriage license fees for counties.
Projections were based on the economic impact of gay marriage in Massachusetts and in states such as Vermont, which currently allow civil unions or domestic partnerships for same-sex couples.
While it’s great to have the Williams Institute officially articulate how same-sex weddings could produce significant economic benefits, I’m not exactly sure whether the study tells us anything new.
Weddings ARE big business! It’s common knowledge: each coupling gets a nice chunk of capital flowing regardless of how large or small the affair. Why should same sex weddings be any different? Weddings generate wealth — regardless.
(Of course, the boost from same sex weddings is still theoretical. California may not see the extra revenue if voters approve a ballot initiative to overturn the court’s ruling allowing the weddings. See previous post.)