A report released by the Greater Raleigh Convention and Visitors Bureau this week found that the local economy has already lost out on hundreds of thousands of dollars due to North Carolina’s HB2 bathroom law.

After Gov. Pat McCrory (R) signed the law on March 24 to prevent cities like Charlotte from granting bathroom rights to transgender people, companies like PayPal announced plans to move jobs out of state.

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On Monday, a report from Wake County’s tourism agency said that the Raleigh area had already lost $732,000 in economic benefits, citing numerous cancellations of conferences and events, The News & Observer reported.

The Raleigh Visitors Bureau warned that the local economy could lose out on $24 million in economic benefits if the law is not repealed. According to the report, 16 other groups were considering relocating their events outside the state.

The city’s biggest loss could be a four-year contract for an undisclosed sports tournament that would have brought 51,000 people and $4.5 million in benefits to the area each year.

“We just felt that it’s not in the best interest of our membership to go someplace that’s not inclusive,” Johnstone Supply spokesperson Janet Tipton told The News & Observer.