cofounder and president Justin Nelson said in a statement via email. “Legislators are sending a message that Tennessee is not open for business when it comes to LGBTQ+ entrepreneurs, who contribute over $1.7 trillion to the U.S. economy.”
On a local level, some cities in red states with reputations for LGBTQ+ inclusivity find it difficult to attract business because of statewide anti-LGBTQ+ legislation. that, “The last two years, our sales staff has attempted to meet with different conferences meeting planners, and they’ve been told ‘no, we don’t want to meet with you simply because you’re from Iowa’.”, Pfeiffer said that “These [anti-LGBTQ] bills make people less likely to come here.”
There is data confirming the positive impact that LGBTQ-friendly policy has on corporate bottom lines. A 2022found that LGBT-friendly corporations have higher profitability and higher stock market valuations than less progressive companies. They also experience increased employee commitment, job satisfaction, and productivity.
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