Deutsche Bank, the leading bank of Germany, announced on Tuesday that it is freezing plans to expand its operations in North Carolina, including plans to create 250 more jobs at its Cary location.
— Deutsche Bank (@DeutscheBank) April 12, 2016
In a statement from the bank, Deutsche Bank revealed that the decision was due to HB2, the state law enacted on March 23rd which invalidated municipal anti-discrimination protections and prevents new municipal protections from being enacted that would prevent discrimination against lesbian, gay, bisexual and transgender people.
HB2 also calls for transgender people to use only the bathrooms that correspond with the gender indicated on their birth certificates.
John Cryan, Co-Chief Executive Officer of Deutsche Bank, said: “We take our commitment to building inclusive work environments seriously. We’re proud of our operations and employees in Cary and regret that as a result of this legislation we are unwilling to include North Carolina in our US expansion plans for now. We very much hope that we can re-visit our plans to grow this location in the near future.”
The bank announced in September 2015 that it would be adding 250 jobs to its software application development center in Cary by 2017, which currently employs around 900 people.
Governor Pat McCrory, who signed HB2 into law the moment it reached his desk, praised the Deutsche Bank expansion after it was announced last fall.
He said the state’s technology talent pool, competitive costs, “great quality of life” and proximity to New York City “will continue to help foster the growth and success of pioneering businesses like DB Global.”
Last week, PayPal also cited HB2 as the reason it would not open a global operations center in Charlotte which would have created over 400 jobs.
Over the weekend Bruce Springsteen canceled a concert in North Carolina to protest the anti-LGBT law. Fighting against “prejudice and bigotry” is “more important than a rock show,” the rock-n-roll legend said.