Extending marriage to same-sex couples in Colorado could add an estimated $50 million in spending to the state and local economy and $3.7 million in tax revenue according to a study. Currently, Colorado bans same-sex marriage, offering civil unions in their stead.
The Williams Institute, an LGBT think tank at the , studied 2010 U.S. Census data for the number of gay and lesbian couples living in Colorado finding 12,424 couples had been counted.
They estimate if same-sex marriage is legalized in the state, 50 percent of those couples would chose to marry in the first three years, meaning same-sex wedding revenue would flow into state coffers.
鈥淲e鈥檝e already known that marriage would give committed couples here in Colorado the opportunity to make a lifetime promise to each other and protect their families the same way everyone else does,鈥� said Dave Montez, Executive Director of , the state鈥檚 leading LGBT advocacy group. 鈥淣ow we know that marriage equality would also benefit our economy and contribute to the state鈥檚 bottom line.鈥�
that Colorado鈥檚 wedding business would increase with legal same-sex marriage by $40 million, with around $10 million being generated in tourist dollars by out-of-town wedding guests.
According to the , $969 million was spent on different-sex marriages in Colorado with the average cost of a wedding totaling $26,053.
Christy Mallory with the Williams Institute said based on studies in other states where , LGBT couples are typically spending less on their weddings than their straight counterparts.
鈥淲e鈥檝e reduced that number in our estimate for same-sex couples only because we鈥檝e seen them spend a little bit less on their weddings,鈥� Mallory said. 鈥淭hat may be a result of them deciding to do it quicker once it鈥檚 legalized, or maybe a result of less family spending due to discrimination or that kind of thing.鈥�
The study expects that same-sex couples in Colorado would spend roughly $6,500 on their weddings, a quarter of the amount spent by different-sex couples.
Massachusetts for the Colorado study, since it was the first state to legalize same-sex marriage in 2003. Since then, Mallory said other studies have been conducted in states where the practice is now legal, with similar results.
One Colorado鈥檚 Dave Montez says the study shows legalizing same-sex marriage in Colorado could attract more companies to the state.
鈥淲ith the freedom to marry being realized in more and more states across the country, these places now have caring, committed, loving gay and lesbian couples who are getting married and who are working for these companies,鈥� Montez said. 鈥淚f a company is going to move to Colorado, all of those couples who are married in those states would be unmarried the minute they come to Colorado. And that鈥檚 not a good place for a state to be that鈥檚 looking to attract new business.鈥�
Montez says the LGBT community is exploring multiple options to bring equal marriage to Colorado, including or pursuing a statewide vote to repeal the constitutional amendment banning gay marriage.
