diff --git a/.changes/unreleased/Dependencies-20240227-151115.yaml b/.changes/unreleased/Dependencies-20240227-151115.yaml
new file mode 100644
index 00000000000..26663b4a255
--- /dev/null
+++ b/.changes/unreleased/Dependencies-20240227-151115.yaml
@@ -0,0 +1,6 @@
+kind: Dependencies
+body: bump dbt-common to accept major version 1
+time: 2024-02-27T15:11:15.583604-05:00
+custom:
+  Author: michelleark
+  PR: "9690"
diff --git a/core/setup.py b/core/setup.py
index f507441fd03..d506f05862e 100644
--- a/core/setup.py
+++ b/core/setup.py
@@ -74,7 +74,7 @@
         "minimal-snowplow-tracker>=0.0.2,<0.1",
         "dbt-semantic-interfaces>=0.5.0a2,<0.6",
         # Minor versions for these are expected to be backwards-compatible
-        "dbt-common<1.0",
+        "dbt-common<2.0",
         "dbt-adapters>=0.1.0a2,<1.0",
         # ----
         # Expect compatibility with all new versions of these packages, so lower bounds only.