Should same sex marriage be legalized, Florida stands to gain more than $182 million over the next three years. That economic boost would mean more than $12 million in tax revenue for the state.
That’s according to a new study from The Williams Institute.
The study predicts that nearly 25,000 of Florida’s same-sex couples would choose to marry in their home state over the next three years, should Florida’s ban on gay marriage be lifted. That’s 50 percent of the state’s same-sex couples, according to U.S. Census data.
If each couple spends an average $5,722 per wedding, over three years, that equals nearly $140 million.
The study also takes into account visiting wedding guests. If each wedding has 16 out-of-state guests, who spend about $100, they’ll generate another $42 million for Florida.
The study also determines that new spending generated by same-sex couples’ weddings could create an additional 875 to 2,626 jobs for Florida residents.
The study does not take into account same-sex couples living out-of-state who would choose to wed in Florida – those couples would generate an even larger economic gain.