Estimating the Economic Boost of Marriage Equality in Minnesota
By Angeliki Kastanis, M.V. Lee Badgett
Extending marriage rights to same-sex couples in Minnesota would bring an estimated $42 million to the state and local economy. In the first three years of extending marriage to same-sex couples, the study estimates that:
• The state’s wedding and tourism business would see spending rise by $42 million, including $28 million in additional wedding spending and $14 million in tourism expenditures made by out-of-town guests.
• Total state and local tax revenue would rise by $3 million, including an estimated $128,000 in local taxes. $2 million of this would occur in the first year.
• The boost in travel spending will generate approximately 283 jobs in the state.
According to the 2010 U.S. Census, 10,207 same-sex couples live in Minnesota. Of those couples, 50% or 4,946 marriage licenses will be issued within the first 3 years after the passage of marriage equality, a pattern that has been observed in Massachusetts and elsewhere. Of the couples that will marry during the first three years, 64% of those marriages will occur during the first year, 21% in the second year and 15% in the third year.