"The new law perpetuates discrimination and it violates the values and principles that are at the core of PayPal's mission and culture," explained president and CEO Dan Schulman. "As a result, PayPal will not move forward with our planned expansion into Charlotte." In a blog post announcing the news, Schulman went on to explain that the company's values include a "strong belief that every person has the right to be treated equally, and with dignity and respect." He goes on to say that those values "compel us to take action to oppose discrimination."

While pulling a major expansion project out of North Carolina in opposition to HB2 is admirable, PayPal doesn't have a solid track record when it comes to welcoming all. For example, the company cracks down on folks associated with sexual content by denying service and freezing funds. It has also been known to freeze accounts accepting charitable donations and disaster relief.

PayPal isn't the only company pulling new projects from North Carolina, either. Both Lionsgate and A&E Networks announced that they would no longer film movies and television shows in the state until the law is repealed. Lionsgate is moving a show from Charlotte to Canada for production, and its remake of Dirty Dancing that's slated for the Asheville area could be in jeopardy as well. A number of tech CEOs have also signed letters in opposition to HB2, so we'll have to wait an see if other companies pull business from the state as well.