By Bryan Grossman
Colorado Springs Business Journal, Oct 21, 2016
Amendment 70 proponents say the state’s minimum wage should be a living wage, while opponents say the market — not legislation — should decide. ...
Full-time workers making the minimum wage in Colorado earn approximately $17,285 annually, or about $300 per week after taxes, and many depend on public assistance. ...
Debra Brown, campaign manager for the wage-increase advocacy group Colorado Business for Fair Minimum Wage, said raising the minimum wage could help businesses by improving employee productivity and morale and reducing turnover. And minimum wage increases often go right back into the economy, she said.
“When low wage workers get a bump in pay, they’re not starting a 401k or an offshore account,” Brown said. “They put it right back into the economy and Main Street.”
Brown also cited a University of Denver study projecting an economic boost of $400 million to the state’s economy.
“The minimum wage has the purchasing power of the 1960s,” Brown said. “You can’t raise a child anywhere in the state for $300 a week.”
More than 200 Colorado businesses have endorsed the amendment, as has Gov. John Hickenlooper.
Tracy duCharme, owner of small business Color Me Mine in Colorado Springs, said she supports the minimum wage increase.
“I support it because I think it will be good for my business,” she said. “It’s an economic stimulant, and I think it’s the right thing to do for workers.”
She employs nine people at her pottery-painting venue and while none of her employees make $12 an hour, she said they all make more than the current minimum wage.
But DuCharme said she doesn’t anticipate having to increase costs or cut hours to cover payroll.
“This isn’t a casual or frivolous issue,” she said. “Payroll is my biggest expense, like a lot of small businesses. But I think the increase in local spending will more than make up for the increase in wages.” ...
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