Kirpal Singh of Denver, right, waves a placard along with more than 100 other supporters of raising the minimum wage in Colorado during a rally on the
Kirpal Singh of Denver, right, waves a placard along with more than 100 other supporters of raising the minimum wage in Colorado during a rally on the steps of the State Capitol in Denver in this Aug. 3, 2006 file photo. (David Zalubowski, AP file)

Colorado's minimum wage will increase by 22 cents Jan. 1 to $8 an hour, benefiting 104,000 low-wage workers in the state, according to an analysis by the nonpartisan Economic Policy Institute.

The minimum for tipped workers in Colorado will also rise by 22 cents, to $4.98 an hour.

According to the Economic Policy Institute, the increased consumer spending generated by Colorado's minimum-wage increase will boost economic growth by $18.7 million.

Also raising the minimum wage Jan. 1 are Arizona, Connecticut, Florida, Missouri, Montana, New Jersey, New York, Ohio, Oregon, Rhode Island, Vermont and Washington.

"This raise will put a little more money in the pockets of Colorado's low-wage workers so that they can spend on essentials like food, utilities and repairs — purchases that will help their families and our local economy," said Erin Bennett, director of 9to5Colorado, one of the organizations that led the 2006 campaign to raise the state minimum wage.