President Bush signed a minimum wage increase into law Friday, May 25, as part of an Iraq supplemental spending bill. His action came shortly after the House and Senate approved the wage/tax relief package as part of the Iraq bill. [The House added the minimum-wage and other domestic-spending provisions to the Iraq bill on a 348-73 vote and the Senate followed with an 80-14 vote approving the combined Iraq /minimum wage/domestic spending package before sending it to President Bush.]
The U.S. Department of Labor has announced that July 24, 2007 was the official date of the first of three 70-cent step increases. Here is the full schedule of the three federal increases:
July 24, 2007 - $5.85
July 24, 2008 - $6.55
July 24, 2009 - $7.25
Will this affect the small business owners in McAllen?
Economics 101: The business owner must pass his costs on to the customer, and who is that customer? That means you and me and anyone else who purchases anything will be somehow affected.
Who is affected in the long run?
Friday, July 27, 2007
Minimum Wage Increase 2007
Thursday, July 26, 2007
Karlee Co. new to McAllen, Texas
Karlee Co., a Garland contract manufacturer of high-tech
equipment, is opened a new 60,000-square-foot plant in
the Sharyland Business Park.
The plant is close to being in full operation, employing over 20 by August 2007. The plant is projected to employ 150 in five years.
Karlee makes equipment for telecommunications, medical,
defense, automotive and semiconductor customers.
Their reason for locating in McAllen is for supporting Karlee customers that are "looking to go over the border."
Beyond that, the McAllen area has high projected growth of its 20- to 40-year-old population, giving the company a ready supply of workers.
One of the major reasons why companies from the northern states begin to look at offshoring or relocating is because of the looming labor shortage. Mcallen fortunately has what those companies need...labor. McAllen has a lot of opportunities for continued growth.
