Can Small Businesses Handle a Minimum Wage Increase in Denver?
In September 2019, Denver Mayor Michael B. Hancock and Councilwoman Robin Kniech (at-large) proposed to raise the citywide minimum wage starting on Jan. 1, 2020. It is estimated that more than 100,000 Denver residents would see higher wages under this proposal. This is part of the Mayor’s agenda to lift the city’s residents and families to 60% area median income, which is the national metric of affordability. In a published interview with ColoradoBiz, Todd Fredrickson shared his concerns about the fast-moving timeline of the proposed changes. In the article, Fredrickson states, “This is a pretty rapid increase in just over a year for most small businesses to implement, especially those that already operate on fairly slender profit margins.”
To read the full article, visit ColoradoBiz.