TRENTON, N.J. – This week, New Jersey residents approved a constitutional amendment that would bump the state’s minimum wage up a dollar, to reach $8.25 per hour, the Daily Record reports. The amendment also tacks on an automatic cost-of-living raise to the minimum wage annually.

Last year, Gov. Chris Christie vetoed a similar proposal that would have pushed the minimum wage up to $8.50 per hour with yearly adjustments tied to inflation. This month, voters overwhelmingly approved the increase, which goes into effect Jan. 1, with cost-of-living changes happening each Sept. 1.

“It was definitely time. It’s not just about the dollar raise, it’s about helping workers move toward economic security. As the cost of living goes up, the value of the wage goes up,” said Dr. Mary Gatta, senior scholar at Wider Opportunities for Women in Washington, D.C. “That’s an additional $173 each month, so that’s money that can go to food and rent. That money not only goes to help provide basic needs, but it goes right back into the economy as families buy detergents, diapers, household items.”

However, not everybody is happy with the slated increase. “There’s another side to the story and we will just have to deal with the fallout from this vote. I think a lot of small businesses are going to decide whether they need to cut some shifts or hours from people or whether they need to let any employees go,” said Phil Kirschner, president of the New Jersey Business and Industry Association.