Business Today
22 August 2019 Minimum Wage continued from page 1
an hour as its minimum wage last year. House Bill 366 would raise the state’s minimum wage from the federal standard of $7.25 an hour to $15 per hour over the next five years and index it to inflation afterward. After 2024, the minimum wage would be indexed to keep pace with inflation. Despite a tighter labor market HB 366 faces an uphill battle in the GOP-led General Assembly. If a state or the feds increase the minimum wage, who is affected? Workers and owners in service businesses, mainly, but anyone covered under the Fair Labor Standards Act (FLSA) that establishes the minimum wage and covers overtime pay, recordkeeping, child labor and other employment issues. FLSA has three conditions of exemption: 1) When an entity makes less than $500,000 in annual sales or business volume 2) An education or health care facility, such as hospitals and schools 3) When the business involves activities of public agencies. Where does North Carolina stand among other states relative to minimum wage? North Carolina and several other Alexander Farm continued from page 1
access and places for the entire community to gather. Win Development plans more than $110 million in development on the 54acre farm, which was last on the market for $12 million with Knox Group Realtors in Birkdale. Win put the property under contract last year; former Mayor Gary Knox had the listing. “We wanted to create a walkable, mixed-use community that retains the rural character of Alexander Farm,” said Jesse McInerney, managing partner at Win Development, based in the Tampa/St. Petersburg market. The company has developed 74 commercial properties around the country. In this particular project—it caught the attention of residents because it was actively farmed up until only a few years ago—Win will partner up with Resort Lifestyle Communities. The company has developed dozens of age-restricted independent liv-
states follow federal guidelines: Idaho, Indiana, Iowa, Kansas, Kentucky, North Carolina, North Dakota, Oklahoma, Pennsylvania, Puerto Rico, Texas, Utah, Virginia and Wisconsin. Georgia’s and Wyoming’s hourly rate is $5.15 per hour and a few states have no minimum wage: Alabama, Louisiana, Mississippi, South Carolina and Tennessee. States with the highest minimum wages are California, Massachusetts and Washington at $12 per hour; the District of Columbia’s rate is $13.25 per hour. Others vary from $8-$11 per hour. Has legislation been introduced? Legislators introduced NC House Bill 146 Feb. 21, which would raise the state’s minimum wage to $15 by 2024. If passed, the minimum wage would first increase in 2020 to $8.80 an hour and then again in 2021 to $10.35, in 2022 to $12 and in 2023 to $13.50. How does poverty rate figure into the equation? The federal poverty line for a household of two people is $16,910, and for a single-person household is $12,490. A full-time employee working 40 hours per week at $7.25 per hour makes $15,080 per year. How are wage and poverty data gathered and who gathers it?
rent Population Survey conducted by the U.S. Census Bureau for the U.S. Bureau of Labor and Statistics. The CPS is administered monthly to about 60,000 households. What are the benefits of raising the minimum wage? The coalition says: Bigger paychecks mean higher sales and bigger profits for local businesses, which creates a “virtuous cycle” that helps business, the economy and public entities. Proponents say higher wages help tamp down a business’ number one expense of hiring, training and keeping personnel. Who even makes minimum wage? Service occupations have the highest percentage of minimum -wage earners, in healthcare support, protective service, food tasks, building grounds, maintenance and personal care. Sales, office and administrative jobs also have a high number of hourly employees paid at or below the federal minimum wage. About half of the minimum-wage earners are 16-24 years old. Of about 64.4 million workers 25 and older earning an hourly wage in the United States, 712,000 of them were below federal minimum wage, and 221,000 were at $7.25 per hour.
Data are obtained through the Curing “resorts” across the United States. Their building on the Alexander Farms site would have 130 units, with all inclusive fees, renting out in the $3,000-amonth range. Amenities include a 150-seat theater, valet parking and a chef. Age-restricted single-family residences on the property would range in price from the high $300,000 range to the mid- Site Plan shows interior street 400s. Like Birkdale, the project features an internal main street for architecture and civil engineering firm restaurants, retail and offices, includ- based in Charlotte. ing spaces for food trucks, water feaConvenience Development Partners tures and outdoor performances. is also part of the development team. The potential office pad is valued at Right now a gas station convenience $8 million, with various retail adding store is part of the project, which is up to about $33 million. still in the planning and review stage. The Resort Lifestyle building will be The first official review by the Town valued at around $45 million at build- Board is Aug. 5. out. Together and independently, Win Win has hired Bartlett Hartley & has developed Walgreens and groceryMulkey, a Charlotte architecture firm, anchored developments, including at and Cole Jenest & Stone, a landscape least 15 Publix anchored centers.
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