Coverage: Deutsche Bank freezes plans in NC over “anti-LGBT” law

Deutsche Bank pressed pause on its plan to add 250 jobs to its Cary, North Carolina, facilities following the state’s passage of a highly controversial “anti-LGBT” law.

The German bank is just the latest in a growing list of businesses and performers pulling out from the Tar Heel state over the discriminatory law.

Ahiza Garcia of CNN Money had the day’s news:

Deutsche Bank is taking a stand against North Carolina’s “anti-LGBT” law.

The German bank announced on Tuesday that it will halt a plan to bring 250 new jobs to its location in Cary, North Carolina.

The move is a response to a state law, passed in March, that prevents cities from banning the discrimination of LGBT individuals. It also requires students in state schools to use the bathroom that corresponds with the gender recorded on their birth certificates.

Deutsche Bank (DB) announced the planned expansion in September and said the new jobs would be added by 2017. Its site in North Carolina currently employs about 900 people.

John Cryan, the bank’s co-CEO, said “we take our commitment to building inclusive work environments seriously” and “very much hope that we can revisit our plans to grow this location in the near future.”

Bank of America (BAC), which is headquartered in North Carolina, did not respond to requests for comment about Deutsche Bank’s decision.

However, the company has previously said it supports “public policies that support non-discrimination” and that it’s committed to supporting “LGBT employees through progressive workplace policies and practices.”

Mark Berman of The Washington Post explained that Deutsche Bank is just the latest to slow down its plans in North Carolina over the controversial bill:

Deutsche Bank’s announcement comes a week after PayPal, an online payments firm based in California, said the new legislation prompted it to cancel its own planned expansion into North Carolina. The proposed facility in Charlotte was expected to employ 400 people and bring millions of dollars to the local economy, according to McCrory’s office.

Last week, Bruce Springsteen also announced that he was canceling a show in Greensboro, N.C., to “show solidarity for those freedom fighters” contesting the new law.

The North Carolina law was hastily introduced by lawmakers and signed by McCrory, who has defended it against criticism by saying it “provided protection of our basic expectation of privacy in public restrooms and locker rooms.” Supporters of the legislation have defended it and similar bills in other states as necessary measures.

The law has come under consistent fire from LGBT rights groups and major companies including Apple, Google and American Airlines. It could also potentially cost the state major events like the next NBA All-Star game, currently scheduled to be held in Charlotte.

Officials in the state are already reporting tourism losses and event cancellations due to the law. As of this week, five groups canceled events planned in the Wake County region, which would have brought the local economy more than $732,000, according to the Greater Raleigh Convention and Visitors Bureau.

Another 16 groups were about to sign contracts to hold events and are considering canceling or changing their minds, according to a spokesman for the visitors bureau. These groups could bring a combined 73,000 people and $24 million to the region.

The visitors bureau did not identify these 16 other groups in a report released by Denny Edwards, president and chief executive of the visitors bureau. But the report did say that one of the biggest hits would come if Raleigh lost its chance to host an unspecified sports tournament, one that the bureau said could bring in $4.5 million to the local economy.

Colleen Jenkins of Reuters detailed how Gov. Pat McCrory tweaked the law through an executive order in response to its backlash:

North Carolina Governor Pat McCrory slightly altered a new state law denounced as discriminatory with an executive order on Tuesday, but the Republican stood firm on a controversial provision restricting transgender bathroom access.

The governor’s order expands protections against discrimination for state employees to include sexual orientation and gender identity. McCrory also asked lawmakers to restore the right to sue in state court for discrimination, an option taken away by the measure passed last month.

But McCrory said his order maintained the “common sense” provision barring transgender people from using bathrooms or locker rooms in schools and other public facilities that do not match the sex on their birth certificate.

“I have come to the conclusion that there is a great deal of misinformation, misinterpretation, confusion, a lot of passion and frankly, selective outrage and hypocrisy, especially against the great state of North Carolina,” McCrory said in a statement. “Based upon this feedback, I am taking action to affirm and improve the state’s commitment to privacy and equality.”

The law’s opponents said the governor did not go far enough to correct the damage done to lesbian, gay, bisexual and transgender citizens.

“Governor McCrory’s actions today are a poor effort to save face after his sweeping attacks on the LGBT community,” said Sarah Preston, acting executive director of the American Civil Liberties Union of North Carolina.