EDGEWATER — With roughly 5,000 residents and only about one square mile in size, one Denver metro-area municipality is looking to hit its business owners with a substantial increase in costs.
The Edgewater City Council is considering raising its minimum wage for persons employed within its boundaries. In fact, at full implementation the current plan would exceed that of Colorado’s statewide minimum wage, and in five years would be equal to that of neighboring Denver.
Edgewater is a home rule city bordered by Denver to the east, Lakewood to the south and west, and Wheat Ridge to the north.
Currently, minimum wage in Edgewater is equal to the state minimum of $13.65 an hour, with Denver currently at $17.29 per hour and rising annually, pegged to inflation via the regional Consumer Price Index (CPI).
If the Edgewater plan is passed, those numbers would change to $15.02 in 2024, $16.52 in 2025, $18.17 in 2026, $19.99 in 2027, $21.99 in 2028 and $23.16 in 2029. The wage increases are estimates only, as they are based on projected increases in line with CPI inflation, leveling out with Denver by 2029. The actual amounts could be more or less.
However, the city’s website says the wages will be at least more than 10 percent over the statewide minimum wage in 2024 and increase from 2025-2028 by 10 percent annually to eventually catch up to that of Denver by 2029.
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