Nov. 8, 2016 – Colorado business leaders applauded the passage of Amendment 70 today, saying raising the state’s minimum wage to $12 by 2020 will create stronger consumer demand and healthier local economies.
More than 300 Colorado businesses—from large companies such as Aspen Skiing Company, Mountain Sun Pubs & Breweries, Illegal Pete’s, Polar Bottle and Ranch Foods Direct, to Main Street mom-and-pops—showed their support for Amendment 70 before the vote by signing the Colorado Business for a Fair Minimum Wage statement.
Debra Brown, Campaign Manager of Colorado Business for a Fair Minimum Wage, said, “This is good news for Colorado businesses, employees and customers. Amendment 70 will boost the state economy by $400 million as workers spend their needed pay increases. The minimum wage will gradually rise to $12 by 2020, giving low-paying businesses time to adjust and experience the benefits of a higher wage floor such as increased consumer spending, cost savings from lower employee turnover, increased productivity and more satisfied customers.”
Matthew Hamilton, Sustainability Director of Aspen Skiing Company, which has 3,500 employees, said, “Passage of Amendment 70 recognizes that today’s wages don’t allow our workers to thrive. Today, we’ve taken an important step toward giving all Coloradans a hand up to support their families while strengthening our regional economy.”
Edwin Zoe, Owner of Zoe Ma Ma restaurants in Boulder and Denver, said, “I’ve been a fiscally conservative Republican since I was a young man and that’s why, as a business owner, I supported Amendment 70. It will reward work, encourage self-reliance and strengthen the free market by expecting businesses to compete fairly and not count on taxpayers to subsidize them through public assistance for employees who are paid too little to live on. Raising the minimum wage is good business and good government.”
Richard Warner, Owner of Bingo Burger in Pueblo and Colorado Springs, said: “Raising the minimum wage will put needed dollars in the hands of Colorado workers—workers who also are customers at many other businesses. From buying burgers to buying bread, from repairing their cars to clothing their children, businesses benefit from growing consumer buying power.”
Ryan Lowe, Owner and Executive Chef of Ore House in Durango, said, “Amendment 70 will help level the playing field for businesses like ours. We pay our staff well above the current minimum wage because we want a well-supported, productive staff that ensures our customers come back again and again.”
Barbara Roberts, Co-Owner of Five 60 Salon in Grand Junction, said,“Raising the hourly minimum to a reasonable base wage of $12 by 2020, and adjusting it to the cost of living after that, will strengthen Colorado’s economy. The increase in consumer spending power will offset the increase in labor costs – and help businesses across our state, including mine.”
Hill Grimmett, Founder and Director of the Northern Colorado Food Incubator in Fort Collins, said, “Raising the minimum wage means more income for low-wage workers, who turn right around and spend it. We work every day helping to grow local businesses, and fair wages are an essential ingredient for a thriving economy.”
Judy Amabile, Owner of Polar Bottle in Boulder, said, “We’ve seen that raising our entry pay from $8 to $12 has been great for our bottom line. Our employees are more productive. They can afford repairing their cars and securing reliable child care. Absenteeism and turnover decreased dramatically. Our per-unit labor costs actually went down. As our experience in a highly competitive industry shows: Raising the minimum wage is good for business.”
For the full signers’ list visit: http://www.businessforafairminimumwage.org/Colorado-Signatories
Colorado Business for a Fair Minimum Wage is the state affiliate of Business for a Fair Minimum Wage, a national network of business owners and executives who believe a fair minimum wage makes good business sense. www.businessforafairminimumwage.org.
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