Springfield Business Journal_2019-07-29

Aug. 7 • Market Development Aug. 14 • Decision Makers’ Outlook JOIN THE CONVERSATION! Tickets and Info : SBJ.net/GrowthSurvey UP NEXT 2019 ECONOMIC GROWTH SURVEY STEERING COMMITTEE Rachel Anderson Jason Gage Hal Higdon Jennifer McClure Callie Linville Chris Coulter Matt Morrow Mary Ann Rojas Robin Robeson Tracy Kimberlin Cora Scott Chrystal Irons Both business leaders and consumers say they expect prices to increase as a result of the minimum wage increase. 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 $6 $8 $10 $12 $7.50 $7.65 $7.65 $7.70 $7.85 $8.60 $9.45 $10.30 $11.15 $12.00 Cut Margins More Automation Raise Prices Reduce Benefits Cut Operating Hrs Expected Market Response Missouri Minimum Wage Timeline Business Respondents Consumers 25% 60% 40% 70% 46% 91% 18% 73% 9% 30% 15 2019 ECONOMIC GROWTH SURVEY WORKFORCE / SKILLS