JEFFERSON CITY — The new year will bring a higher cost of doing business for many employers across Missouri. On Jan. 1, 2020, the state’s minimum wage will rise to $9.45. The increase was written into law in 2018 when voters approved Proposition B, which raises the minimum wage each year until it reaches $12 per hour in 2023. The Missouri Chamber of Commerce and Industry opposed the increase.
“Employers across the state need to be aware that the minimum wage is about to change. They should also be preparing for additional increases in ensuing years. It’s always a concern when a new law raises the cost of doing business. Ultimately, the consequences of increasing the minimum wage work against Missouri families and our state’s economy,” said Daniel P. Mehan, President and CEO of the Missouri Chamber of Commerce and Industry. “Higher costs force businesses to hire fewer workers. The costs also typically get passed directly to consumers, raising prices for everyone. This works against our state’s overall strong progress to compete for jobs and grow our economy. When the 2020 Legislative Session convenes in January, the Missouri Chamber will work to pass a number of initiatives to enhance our economic standing while we will also work to stop additional harmful measures that make it harder and costlier to do business in our state.”