Increasing the state’s minimum wage to $15 over the coming years will cost New York 200,000 jobs a report from the fiscal watchdogs at the Empire Center for Public Policy and the American Action Forum.

“Our report shows that a massive increase in the minimum wage would actually hurt the very low-wage, low-skill workers it is supposed to help,” said E.J. McMahon, president of the Empire Center. “The impact on job creation and employment opportunities would be substantial in every region of New York, especially upstate.”

The report looked at the impact on employment for a minimum wage of either $15 and $12, latter of which is backed as a national floor for the minimum wage by President Obama and Democratic presidential candidate Hillary Clinton.

With the wage $15, the job losses of 200,000 was based on a methodology developed by the Congressional Budget Office, where one of the report’s co-authors, Douglas Holtz-Eakin, was a director.

The report is the latest salvo fired this week at the proposed $15 minimum wage, which Gov. Andrew Cuomo embraced this summer after backing a wage increase for workers in the fast-food industry through a Department of Labor wage board.

Business groups are pushing back against the plan, forming a coalition to counteract the campaign backed by Cuomo for the $15 minimum wage.

The Cuomo administration in response pointed to academic research on the minimum wage’s impact on the economy and jobs as well as arguments made by the U.S. Department of Labor and economists.

“It’s no surprise this report mirrors the world view of an organization backed by the very forces that fight against every minimum wage increase and runs counter to the findings of the U.S. Labor Department, noted economists and past experience in New York,” said spokesman Richard Azzopardi. “The Governor and a majority of New Yorkers believe that if you work full time you shouldn’t be condemned to a life of poverty.”

Cuomo has indicated any broad-based wage increase to $15 would be phased in over several years and has floated the possibility of tying it to a new tax cut aimed at businesses.

Potential Losses 15 Minwage by Nick Reisman