Cities across the nation are vying to attract and retain professionals aged 25-34 through social media and advertising campaigns, as well as with incentives which include internships, housing subsidies, student loan reimbursement, and more.
For example, in an effort to retain students attending colleges and universities in the metro area, Philadelphia, PA, launched Campus Philly.
What began as a city initiative has now become a nonprofit, which receives some city funding.
The focus, which was initially on encouraging students to explore the city, has expanded to include linking young professionals with internships at local companies while also exposing them to the arts and volunteer opportunities.
Efforts are paying off says a report from the PEW Charitable Trusts. Retention of out-of-town students following graduation has risen from 29 percent to 51 percent.
Meanwhile, in Niagara Falls, NY, efforts are also focused on retaining local students. Two years ago, the city started offering up to $7,000 in student loan reimbursements to young adults willing to move downtown; as of this spring 13 renters have taken the city up on its offer.
The full article appeared in our print edition. To always get the full story, read Downtown Idea Exchange.