Niche Biz: Gay Marriage
Forget economic stimulus checks. Same-sex marriages might give California just the financial boost it needs.
Wedding planners, bakers and hotel representatives say they began booking more business almost immediately after the state Supreme Court’s decision May 15 overturning a ban on gay marriage. Citing years of pent-up demand, one University of California, Los Angeles study projects that same-sex unions could provide a $370 million shot in the arm to the state economy.
Connecticut, among other states, could also stand to rake in millions from a same-sex marriage law, according to a 2005 study on the issue. But for now, the focus is on California.
“Being in West Hollywood, we’ve been inundated,” said Tom Rosa, owner of the Cake and Art bakery. “After the ruling, the phone really picked up.”
Rosa said couples who had waited for decades to marry legally were splurging on 5-foot-tall confections shaped like carousels and cakes featuring handcrafted birds of paradise.
Mike Standifer and Marc Hammer had been planning a commitment ceremony for October, but when the court ruling came out, they decided to throw an even bigger bash.
They plan on spending about $25,000, which includes renovations to their Hollywood home so they can have the party in their backyard. The new cost includes rings, their suits and those of their wedding party, and the cost of flying in Standifer’s priest from Tennessee – all things they wouldn’t have done if they were just having a party.
Continue reading: Gay Marriage May Boost California.
Also read: Fortune 500 Companies See Money in Gay Families.
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