It's November 9th, and America has elected a new president. Donald Trump will assume the office of the chief executive on Friday, Jan. 20, 2017, and it is certain things will be changing in the business landscape after he takes office. But that wasn't the only thing American voters decided on that will have an impact for food retailers and producers.
For starters, retailers will need to contend with rising minimum wages in two states. Colorado voters approved a minimum wage hike. Colorado voters approved Amendment 70, which increases the floor wage for any non-tipped worker in the state from $8.31 per hour to $12 per hour in three steps by 2020, reported Denver Business Journal.
Meanwhile, Washington State also approved a minimum wage hike. Washington voters approved Initiative 1433, increasing the statewide minimum wage from $9.53 to $13.50 by 2020. The measure also gives all Washington workers the opportunity to earn paid sick leave, reported Puget Sound Business Journal.
Food and beverage producers will also need to adapt. San Francisco, Oakland, and Albany, CA passed measures to tax soda and sugary drinks. As of as of 11:48 p.m. P.S.T. on Nov. 8, San Francisco's Proposition V was winning 62% to 38%, with all but two precincts reporting and some provisional ballots outstanding. Oakland’s Measure HH was ahead 62% to 38% with 60% of precincts reporting, and in Albany, Measure 01 was winning, 71% to 29% percent with 76% of precincts reporting, reported San Francisco Gate.
Massachusetts voters approved a law prohibiting breeding pigs, calves raised for veal, and egg-laying hens in confined spaces. Violators can be fined up to $1,000, and the law applies to all businesses that sell pork, veal or eggs from animals held this way, even if the source is outside Massachusetts, reported Boston Business Journal.
It remains to be seen how these new regulations and laws will affect food producers and retailers, but one thing is for certain: we will be keeping a close eye on them via the Food Institute Blog. Make sure to keep checking in to stay up-to-date with the latest changes.
Larger orders are on the rise at restaurants, as customers aim to feed their whole family and have leftovers for future meals, reported The Wall Street Journal (May 30).read more
In The Food Institute's recent webinar "Achieving a self-sustaining business model: Top 3 trends companies need to think about post-COVID-19," Greg Wank, CPA, CGMA, partner and leader of Anchin's food and beverage group, as well as David Eben founder and CEO of Carrington Farms, discussed how to have a more successful business while burning less capital and attaining self-sustainability. The following summarizes the salient points highlighted during the webinar.read more
Chris is a business writer and market analyst that focuses on the Markets, Legal and Washington sections of the Food Institute Report. In addition, he assists in compiling data for various Food Institute publications throughout the year. He invites you to contact him via email at email@example.com to talk about anything food-related.
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