North Carolina is the latest state to suffer the consequences from its harsh anti-LGTB laws. In a statement released today, President and CEO of Paypal, Dan Schulman, announced that the company will not be moving ahead with an expansion that would have added over 400 jobs to the North Carolinian economy.

Schulman’s open letter states:

“Two weeks ago, PayPal announced plans to open a new global operations center in Charlotte and employ over 400 people in skilled jobs. In the short time since then, legislation has been abruptly enacted by the State of North Carolina that invalidates protections of the rights of lesbian, gay, bisexual, and transgender citizens and denies these members of our community equal rights under the law.

The new law perpetuates discrimination and it violates the values and principles that are at the core of PayPal’s mission and culture. As a result, PayPal will not move forward with our planned expansion into Charlotte.

This decision reflects PayPal’s deepest values and our strong belief that every person has the right to be treated equally, and with dignity and respect. These principles of fairness, inclusion and equality are at the heart of everything we seek to achieve and stand for as a company. And they compel us to take action to oppose discrimination.

Our decision is a clear and unambiguous one. But we do regret that we will not have the opportunity to be a part of the Charlotte community and to count as colleagues the skilled and talented people of the region. As a company that is committed to the principle that everyone deserves to live without fear of discrimination simply for being who they are, becoming an employer in North Carolina, where members of our teams will not have equal rights under the law, is simply untenable.

While we will seek an alternative location for our operations center, we remain committed to working with the LGBT community in North Carolina to overturn this discriminatory legislation, alongside all those who are committed to equality.

We will stand firm in our commitment to equality and inclusion and our conviction that we can make a difference by living and acting on our values. It’s the right thing to do for our employees, our customers, and our communities.”

Following the announcement, President Chad Griffin of the Human Rights Campaign (HRC) applauded Schulman’s decision saying in a statement, “PayPal’s announcement today sends a loud and clear message to Governor McCrory that discrimination is not only bad for North Carolina and bad for people — it’s bad for business.”

Griffin continued, “With every passing day that HB2 remains on the books, Governor McCrory is inflicting damage on the state’s economy and reputation. The fact also remains that this destructive and appalling bill continues to put people across the state at risk of harm and discrimination. It is time for Governor McCrory to stop this senseless crusade against equality and repeal HB2 once and for all.”

The law at the center of the boycott forces transgender students in public schools to use restrooms and other facilities inconsistent with their gender identity, “putting 4.5 billion dollars in federal funding under Title IX at risk,” according to the HRC.

Called “Bathroom Bills,” the laws have been shot down by Governors in surrounding states following pressure from Hollywood and company’s like Disney and PayPal. While lawmakers continually paint the image of men going into women’s bathrooms to scare-up support for the bill, the law is also having harsh effect on transgender men.

A transgender man made up business cards in North Carolina, which explained why he was in women’s bathroom (knowing that his appearance in the women’s bathroom would cause concern). The new law required him to use the bathroom that matched his birth-certificate, which was female, which obvisouly caused an issue when enforced.