This morning Indiana Gov. Mike Pence signed SB 101, the so-called "religious freedom" bill that allows businesses to discriminate against individuals on religious grounds.

"I think there's a lot of misunderstanding—this has never undermined anti-discrimination laws," Pence said of the Religious Freedom Restoration Act. Yet the law could—and likely will—be used to refuse service to LGBT people.

Since Pence announced he would sign the measure, a number of groups have threatened to take their business outside the state—including the organizers of GenCon, a $50 million gamer convention that's held annually in Indianapolis.

Marc Benioff, CEO of tech outfit Salesforce, has canceled all company travel to the state. Based in San Francisco, Salesforce has some 12,000 employees and a market capitalization of $40 billion.

"We are forced to dramatically reduce our investment in Indiana based on our employee's and customer's outrage over the Religious Freedom Bill," Benioff tweeted yesterday.

Last year, Salesforce bought the Indiana-based ExactTarget for $2.5 billion.

Other tech companies signaled their concern over the Religious Freedoms Restoration Act in a letter to Pence, asking him to veto the bill. Signees included Jon Gilman, founder and CEO of Clear Software; John McDonald, CEO of CloudOne and Bill Johnson, founder and CEO of Salesvue.

On the spiritual front, leaders of the Christian Church (Disciples of Christ) told Pence that the legislation was causing them to reconsider plans to hold their 6,000-person General Assembly in Indianapolis in 2017.

In little more than a week, the NCAA will hold its men's Final Four games at Indianapolis' Lucas Oil Stadium. The college athletics organization, which is also based in Indianapolis, hasn't taken a position on the issue, but said in a statement, “We are examining the details of this bill, however, the NCAA national office is committed to an inclusive environment where all individuals enjoy equal access to events."