Seattle was one of the first large municipalities to adopt an enhamced minimum wage. The new minimum wage phases in over several years; the first step kicked in on April 1st. Many conservative pundits have claimed that the new minimum wage will drive businesses away and that the city will become a desolate wasteland populated by North Face clad nomads battling over The Last Latte Ever. Earlier this week there was a significant response from the business community.
Expedia is a company on the move figuratively and literally. The travel industry giant recently acquired rivals Travelocity and Orbitz.
In addition to these moves within the boardroom the company is...moving the boardroom from Bellevue, WA to Seattle. This move will have a huge impact on both cities. While many in Bellevue are concerned about the implication of losing ~5% of the local workforce some Seattleites are worried that traffic, a major headache, will get worse. While the move has pros and cons for both cities it is important to note that a major corporation is moving 3k employees (projected to increase to 4.5k) to a city that has implemented a living minimum wage as well as a paid sick leave law when the corporation had the option to stay in a city without those requirements.
The new Seattle minimum wage is scheduled to roll out over several years. This new law will no doubt have a large impact on the local economy. No doubt some pundits will continue to claim economic Armageddon is around the corner the early returns look promising.