Retaining new college graduates is not a new problem in Connecticut, but the issue is getting another look as some of our biggest companies consider moving out of state. According to the Courant “In 2014, more than 17,000, or 7 percent, of young adults in the 20-to-24 age group moved out of Connecticut, according to recent U.S. Census data. Nationwide, Connecticut ranked 12th-worst among the contiguous 48 states.”
Experts look around the Northeast for solutions, from Main’s Educational Opportunity Tax Credit, which reimburses student loan payments for graduates from universities and colleges located in Maine who choose to live and work in Maine, to New York’s “Buffalo Billion” program which invested $1 billion in greater Buffalo to increase entrepreneurship and job creation.
The Courant quotes Joseph McGee, vice president of the Business Council of Fairfield County: “the state needs to build more middle-income housing and amenities, such as urban parks, festivals, outdoor concerts and bike trails. Cities such as Stamford, Norwalk and even New Haven and Hartford are starting to adapt this formula, investing in housing developments with amenities aimed at millennials… In Connecticut, our cities have always been perceived as failures, and now we are beginning to see that change.”