JinAZ has a great look at the new CBA:
Minimum salary for MLB players increases from the current $327,000 this year to $390,000, and gets a cost of living increase each year thereafter. That moves the marginal MLB team payroll (the minimum possible MLB payroll for a 25-man team) up from $8,175,000 to $9,750,000 next year. That's a $1.575 million increase, which more or less hits all teams across the board. Not a huge spike--I think that the Reds may have spent that much on players that they released this year--but small market teams who must rely on developing players for payroll reasons will feel this hike the most.
That's one of the more interesting parts of the new agreement to me, because it hits the Reds pretty hard. Small market teams are more likely to be paying guys the minimum, so I'd guess that this will immediately lift the payroll by a (relatively) decent amount next year.
It's always kind of distressing to talk Reds payroll. Every year you start out thinking that the next offseason will see some payroll flexibility, but it always seems to get eaten by arbitration raises and stupid Rheal Cormier-type mistakes.