Nearly 250 businesses have signed statement supporting Amendment 70 because it's good for business and the economy; list continues to grow every day
Denver, Oct. 24, 2016 – Aspen Skiing Company is the latest Colorado business to sign Colorado Business for a Fair Minimum Wage’s statement supporting Amendment 70 – a ballot initiative that will gradually raise Colorado’s minimum wage to $12 by 2020. They join nearly 250 businesses, including numerous restaurants, to support the measure that would increase Colorado’s minimum wage, first to $9.30 on Jan. 1, 2017 and then by 90 cents a year until it reaches $12 in January 2020.
“Increasing the minimum wage is a critical step toward addressing income inequality while increasing our ability to recruit and retain employees,” said Matthew Hamilton, Sustainability Director for Aspen Skiing Company, which has 3,500 employees. “Wage increases also directly impact the economic vitality of the region. Amendment 70 strengthens the Colorado economy while ensuring our workers can more easily make ends meet.”
The Colorado Business for a Fair Minimum Wage Statement says that “gradually increasing Colorado’s minimum wage is good for business, customers and our local economy,” and that “increased pay means increased consumer buying power – boosting sales at local businesses as Colorado workers buy products and services they could not afford to buy before.”
Businesses in support of the amendment agree that low pay typically means high employee turnover. They see cost savings in hiring and training and less product waste with lower turnover. Businesses also see benefits in the form of increased productivity, product quality and customer satisfaction.
“Raising Colorado’s minimum wage makes great business sense,” said Debra Brown, Campaign Manager of Colorado Business for a Fair Minimum Wage. “Workers will spend their increased pay at local businesses, giving a $400 million boost to Colorado’s economy. Amendment 70 raises the minimum wage to $12 by 2020 gradually, 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.”
For the growing signers’ list in formation visit: http://www.businessforafairminimumwage.org/Colorado-Signatories
To schedule an interview with a business owner who signed the statement, contact: Bob Keener, 617-610-6766, firstname.lastname@example.org OR Erin Musgrave at email@example.com, 530-864-7014
Business for a Fair Minimum Wage is a national network of business owners and executives and business organizations that believe a fair minimum wage makes good business sense.