diff --git a/.changes/unreleased/Security-20240416-195919.yaml b/.changes/unreleased/Security-20240416-195919.yaml
new file mode 100644
index 000000000..af8fb6f1d
--- /dev/null
+++ b/.changes/unreleased/Security-20240416-195919.yaml
@@ -0,0 +1,6 @@
+kind: Security
+body: Bump sqlparse to >=0.5.0, <0.6.0 to address GHSA-2m57-hf25-phgg along with dbt-core
+time: 2024-04-16T19:59:19.233806-05:00
+custom:
+  Author: McKnight-42
+  PR: "768"
diff --git a/setup.py b/setup.py
index 4673657b8..dbb3913b9 100644
--- a/setup.py
+++ b/setup.py
@@ -66,9 +66,9 @@ def _plugin_version_trim() -> str:
         # Pin to the patch or minor version, and bump in each new minor version of dbt-redshift.
         "redshift-connector<2.0.918,>=2.0.913,!=2.0.914",
         # add dbt-core to ensure backwards compatibility of installation, this is not a functional dependency
-        "dbt-core>=1.8.0a1",
+        "dbt-core>=1.8.0b3",
         # installed via dbt-core but referenced directly; don't pin to avoid version conflicts with dbt-core
-        "sqlparse>=0.2.3,<0.5",
+        "sqlparse>=0.5.0,<0.6.0",
         "agate",
     ],
     zip_safe=False,