Starting on July 1st, Minneapolis’ minimum wage is set to increase to $12.50 for small businesses and $14.25 for large businesses.
For the next three years, minimum wage will increase incrementally in the city. Large businesses will reach a $15 minimum wage on July 1st of 2022. At that point, small businesses will increase to $13.50, then to $14.50 in July of 2023. Buy July 1st, 2024, they will reach a $15 minimum wage.
A small business is defined as having 100 or fewer employees. Large businesses have more than 100 employees.