Nebraska voters approved a minimum wage hike in the midterm elections on Tuesday.

Initiative 433, which was approved by 59%, calls for annual raises of the minimum wage for the next four years to help offset costs from inflation.

The initiative will raise the minimum wage by $1.50 for the next four years, increasing the state's current $9-per-hour wage to a minimum of $15 per hour.

After 2026, the initiative will calculate the state minimum wage based on inflation.

Nebraska is one of nine states to raise their minimum wage to at least $15 per hour, according to data from the National Employment Law Project.

Nebraska is not the only moderate-to-conservative state that increased the minimum wage through ballot measures. Arizona, Arkansas and Missouri voters also approved ballot measures raising their minimum wage to $12 per hour. Twenty-two ballot measures were passed by voters across the country to increase the state minimum wage since 1996.

After the four-year period of increases ends in 2026, Nebraska will use the Consumer Price Index to adjust for inflation.

Since 2012, state legislatures have faced increased pressure from union and labor advocates to increase minimum wage.

Bud Synhorst, president of the Lincoln Independent Business Association, told Nebraska Public Media that he was not surprised Initiative 433 passed but expressed concerns about the economic impact.

"I think it's bad for the economy," Synhorst said. "It's bad for local business, and it's going to cost small, local businesses across the state."