Gay Marriages To Boost CA Economy

Via the Los Angeles Times:

Forget economic stimulus checks. Same-sex marriages may give California just the financial boost it needs. Wedding planners, bakers and hotels began booking more business almost immediately after the state Supreme Court's May 15 decision overturning a ban on gay marriage. Citing pent-up demand, one UCLA study projects that same-sex unions could provide a $370-million shot in the arm to the state economy over the next three years.

"Being in West Hollywood, we've been inundated," said Tom Rosa, owner of the Cake and Art bakery on Santa Monica Boulevard. "After the ruling, the phone really picked up." Rosa said couples who had waited for decades to legally marry were splurging on 5-foot-tall confections shaped like carousels and cakes featuring handcrafted birds of paradise.

Mike Standifer and Marc Hammer were already planning a commitment ceremony for October, but when the court ruling came out, they decided to throw an even bigger bash and get married.

They plan on spending about $25,000, which includes renovations on their Hollywood home so they can have the party in their backyard. The new price tag includes rings, their suits and those of their wedding party, and the cost of flying in Standifer's priest from Tennessee -- all costs they wouldn't have incurred if they were just having a party.

"The wedding dynamic in the last two weeks changed everything," Standifer said. The wedding businesses he's worked with so far seem thrilled. "I think it's because the economy's not so great, but the vendors have been treating us like royalty," he said.

By some estimates, weddings and commitment ceremonies for same-sex couples generate $1 billion a year in revenue PlanetOut, a media and entertainment company that conducts surveys about gay and lesbian consumers, says gay consumers earn 20% more than their straight counterparts, on average, and spend about 10% more on nuptials.

The court ruling comes at a good time for many small wedding-related businesses, which are finding that their traditional customers are spending less on weddings because of the economy.

"Brides are being more frugal with things they don't see as a priority," said Richard Markel, president and director of the Assn. for Wedding Professionals International.

Things really slowed down in February, said Michael Willms, owner of Entertainment Design Events, an event planning company that's done big bashes such as a wedding for actress Lindsay Price, who stars in the NBC show "Lipstick Jungle." But they've picked up now. The day after the ruling, Willms booked a $55,000 same-sex wedding. "These weddings will be much more lavish," he said. "Everybody's been waiting for it to be legal to throw the big party."

California counties can begin issuing marriage licenses to same-sex couples beginning June 17.