Gay Marriage Provides Added Economic Benefits

Virginia just got a potential economic boost, courtesy of the Supreme Court. By declining to review same-sex marriage cases and effectively allowing same-sex marriage in the commonwealth, the high court removed an obstacle that entrepreneurs, their families and the companies that employ them often face when making important financial decisions.

Same-sex marriage is a huge economic issue, well beyond the obvious benefit of revenues coming in from marriage license fees and the taxes and economic activity behind the enormous wedding industry. Same-sex marriage is a deeply personal issue that affects families and their decisions about where and how they live. Companies decide where to operate based on where they can attract the best talent, and welcoming same-sex families to Virginia means welcoming businesses who want to employ them.

Virginia is now one of 31 states, including the District of Columbia, which allow or could allow same-sex marriage. That keeps the state competitive in industries like technology where companies are increasingly paying very close attention to the social impact of their operations. Americans want to live and study where same-sex marriage is legal, and they can now look to Virginia as a place where they are not only welcome, but where they have more opportunities to live a fuller life. Some of the rights and privileges now afforded to same-sex couples include adopting children, signing up for each other’s employee benefits, making medical decisions for each other, transferring inheritance and filing joint tax returns.

Virginia was already a major hub for technology jobs. According to the TechAmerica Foundation’s report, Cyberstates 2013: The Definitive State-by-State Analysis of the U.S. Tech Industry, Virginia’s tech industry ranks fourth in the nation based on the number of workers in the industry, but twelfth in job growth in the industry. Virginia can work towards increasing the talent pool and overall workforce size now that it isn’t discriminating against gays and lesbians. That, in turn, bodes well for entrepreneurs and companies, especially the tech industry.

Everyone knows stifling regulation is a disincentive to innovation, but a discriminatory environment has the same effect for companies that care about the people they employ. A person’s sexuality has nothing to do with their talent, work ethic or entrepreneurial spirit. No one, including same-sex couples, should have to worry about discrimination disrupting their lives and their careers. A progressive and inclusive view of marriage is better for business — and it’s good for Virginia, too.

Gary Shapiro is president and CEO of the Consumer Electronics Association (CEA), the U.S. trade association representing more than 2,000 consumer electronics companies, and author of the New York Times best-selling books, Ninja Innovation: The Ten Killer Strategies of the World's Most Successful Businesses and The Comeback: How Innovation Will Restore the American Dream. His views are his own. Connect with him on Twitter: @GaryShapiro.

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