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ST. LOUIS, MO (KTVI)-  A big vote on minimum wage took place Friday at City Hall. The board of aldermen approved a compromise plan to raise the minimum wage to $11 an hour by 2018.  Mayor Francis Slay signed the bill Friday evening.

Supporters say it will give minimum wage workers more spending power. Critics warn this could be bad for business, discouraging new ones, and encouraging current ones to head to the county. At a special meeting on Tuesday, the alderman went back and forth for hours. The minimum wage in St. Louis was the same as in Missouri: $7.65 an hour.

This bill being raises the minimum wage to $8.25 as soon as it`s passed.  There will be wage increases over the next few years, until it hits $11 an hour in January 2018.

Although it looks different from the original bill proposed by Alderman Shane Cohn, everyone was not on board.   Alderman Antonio French opposed the bill, arguing it could send the already few jobs that exist in the city out to St. Louis County. French says we just need more information.

Unlike some other cities, St. Louis has not formally studied how increasing minimum wage impact the local economy. Supporters say passing the bill means more money in people`s pockets, which they feel could entice more businesses.