Orlando Business Journal
Businesses in Florida are preparing for the positives—and negatives—that will come with the state’s future $15 hourly minimum wage. Voters in the November 2020 election approved the initiative that’s set to raise the state’s $8.56 minimum wage gradually to $15 in 2026.
On January 21, 2021, Tony Villamil, Founder and Senior Advisor of The Washington Economic Group, Inc. (WEG) was a panelist in the Orlando Business Journal’s virtual roundtable discussion on Florida’s minimum wage. The discussion focused on the impact of that wage increase not only on workers’ wages but also the Central Florida economy as a whole, as well as any challenges it may initially present for certain industries.
During the OBJ’s virtual roundtable discussion, Tony said “we also should see a pickup in the local economy as a result of there just being more funds to spend and live on. That is a win-win, especially given this current environment.” He also added “A benefit for employers is the increase is structured to happen over time instead of all at once, which will give businesses time to make adjustments.”