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Economic Benefits from Same-Sex Weddings in New Jersey

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Publication Date: December 2006

Author(s): M.V. Lee Badgett

Topic: Economics (Economic policy, planning, and development)
Law and ethics (Family law)

Type: Report

Coverage: New Jersey

Abstract:

This study estimates the potential economic impact of samesex weddings on the State of New Jersey and concludes that the gain would be substantial. If New Jersey were to give same-sex couples the right to marry, that is marriage itself and not civil unions, the State would likely experience a surge in spending on weddings by same-sex couples who currently live in New Jersey, as well as an increase in wedding and tourist spending by same-sex couples from other states. The analysis outlined in detail below predicts that sales by New Jersey's wedding and tourism-related businesses would rise by $102.5 million in each of the first three years when marriage for same-sex couples is legal. As a result, the State's gross receipt tax revenues would rise by $7.2 million per year.