Economic Impact of LGBTQ+ Businesses

Your Dollar Makes a Difference

The Economic Impact of LGBTQ+ Businesses

12 AVERAGE

YEARS IN BUSINESS

33,000 JOBS

CREATED BY LGBTBES

AVERAGE PROFIT OF LGBTBES :

$2,475,642 ( FROM A RANGE OF $1,707 - $180,000,000 )

ESTIMTATED IMPACT OF ALL LGBTQ - OWNED BUSINESSES IN AMERICA :

$1.7 TRILLION

Sources: America’s LGBT Economy 2016 Snapshot Presented By The NGLCC IT’S EASY TO LOOK AROUND AND SEE THE INFLUENCE of LGBTQ+ entrepreneurs, thinkers and artists on our collective culture, but how does our community impact the economy?

We know that signature LGBTQ+ events in New Orleans are significant boosters to tourism and hospitality. Ambush magazine reports that in 2019, Southern Decadence attracted 275,000 visitors with an estimated economic contribution of around $380 million. What has been less clear is the economic impact of LGBTQ-owned and operated businesses on everyday life and commerce, apart from tourism-driven attractions.

Thanks to a groundbreaking report by the National LGBT Chamber of Commerce (NGLCC), along with expert research conducted by Witeck Communications, we have our first snapshot of how our dollars contribute to economic prosperity in America. The report sets an analytical precedent that could eventually lead to a more regional understanding of how LGBTQ-owned and operated businesses stimulate their respective economies.

The NGLCC’s research included more than 900 LGBT Business Enterprises (LGBTBEs) to determine average revenue, geographical concentration, industry distribution and lifetime of NGLCC certified businesses, among other factors. The results demonstrate that talent from LGBTBEs is present in every major industry sector in the nation.

That means that almost any goods or services you might require can be performed by an LGBTBE, making your dollars — and where you spend them — your greatest tool in fostering an inclusive, diverse business climate.

LOCAL FAST FACTS

There are 8 certified LGBTBEs in the GSLGBT Chamber’s membership Louisiana has an estimated adult LGBTQ+ population of 139,000 3.9% of Louisiana adults (18+) are LGBTQ+ 28% of Louisiana LGBTQ+ adults (25+) are raising children

Sources: Ambush Magazine, Gallup data by The Williams Institute, LGBT Movement Advancement Project (MAP)