NEW YORK - January 30 - For a record-breaking 10 years, the federal minimum wage has not been raised largely due to the lobbying efforts of elements of the business community and their allies in Congress.  However, a fast-growing campaign led by small and large business men and women are saying a higher minimum wage is in fact good for business. While the Congress debates the issue, states that have led the way by raising their minimum wages above the current $5.15 minimum wage have had better employment and small business trends than states that have not.

"Congress should know the facts are very clear versus the misinformation that's been spread over the years," said Adnan Durrani, President of Condor Ventures, an investment banking firm that specializes in technology and consumer product companies. "It is a sound business decision to increase the minimum wage." Higher wages benefit business by increasing consumer purchasing power, reducing costly employee turnover, raising productivity, and improving product quality, customer satisfaction and company reputation.

Jim Sinegal, CEO of Costco, the nation's largest wholesale club operator with 49 million cardholders, has signed the statement in support of raising the minimum wage. Sinegal said, "The increase in the minimum wage is long overdue. I hope Congress and the President will move swiftly to enact sensible legislation that will demonstrate our nation's commitment to reward hard work."

Margot Dorfman, CEO of the U.S. Women's Chamber of Commerce, said, "We all lose when American workers are underpaid. Whether as business owners or employees, women have a significant stake in providing for their families and their communities. More than a quarter of all working women hold service, production, transportation and material moving occupations, which are often subject to low pay, minimum wage earnings. The majority of women are living without a spouse. By not paying workers a living wage, we assure that a mother working hard to support her family will not be able to make ends meet."

"Investing in employees is the single most important investment that a company can make," said Brian Smith, managing partner of Blackfoot River Brewing Company in Helena, MT, a state where a ballot initiative to raise the minimum wage passed by 73%.

Voicing the sentiments of restaurant owners across the country -- from the Four Seasons Restaurant in New York to Taco del Sol in Montana -- Kirsten Poole, co-owner of Kirsten's Cafe and Dish Caterers in Silver Spring, MD, said, "Trying to save money by shortchanging my employees would be like skimping on ingredients. I'd lose more than I saved because of declining quality, service, reputation and customer base. You can't build a healthy business or a healthy economy on a miserly minimum wage."

The statement supporting higher minimum wage and a list of sample signatories appear below. Sign-On is continuing at http://www.businessforafairminimumwage.org/.

Business Owners and Executives for a Higher Minimum Wage is a project of Business for Shared Prosperity <http://www.businessforafairminimumwage.org/>  in partnership with the Let Justice Roll <www.letjusticeroll.org>campaign to raise the minimum wage. Business for Shared Prosperity is a new network, in formation, of forward-thinking business owners, executives and investors committed to building enduring economic progress on a strong foundation of opportunity, equity and innovation.

To arrange interviews with businesspeople as well as low-wage workers around the country, contact Riptide Communications 212.260.5000.