The Future of Ohio in the Hands of Our Youth

In recent years, Ohio has experienced a problematic ‘brain drain’ as our young talent leave the state after graduating from college. According to a report from the Thomas B. Fordham Institute, nearly six out of ten Ohio college students plan to leave the state upon graduation. The group polled a random sampling of students from seven Ohio universities on their post-college futures and important factors that impact their decision about where they live and work.

With consideration to Ohio as a place to live after college, students cited the lack of available career options as the main reason for choosing to explore opportunities in other states. Here in the Ohio House, job creation is the number one priority for my colleagues and me, which is why last month we revealed the ‘Future of Ohio’ plan. This package of ten bills was created with the intent to reenergize Ohio’s economy and prepare our state to become a global competitor in a 21st century economy.

According to the Fordham study, 65 percent of the students stated that they would consider staying in Ohio if they were offered tax credits. With this in mind, several pieces of legislation have been drafted and introduced to provide incentives that will attract and retain students after graduation.

House Bill 144 would provide income tax credits for college graduates, and another bill currently being drafted focuses on those who have reached journeyman status or its equivalent within their trades. Additionally, House Bill 123 proposes tax breaks for students majoring in science, technology, engineering and mathematics (STEM) fields. Each of these bills seek to encourage the growth of Ohio’s college-educated and  technological skill base by attracting and retaining these graduates who plan to live and work in Ohio for at least five years.

Sixty percent of surveyed students expressed interest in a state-funded program that awards graduates with cash grants toward down payments on homes. Here in the Statehouse, the state operating budget recently passed with such a program included. Originally proposed as Senate Bill 5, the Grants for Grads program was created to provide  college graduates with down payment and closing cost assistance for the purchase of their first homes in Ohio.

Details on the program are still being finalized since the passage of the budget, but the original bill stated that grant recipients must intent to live and work in Ohio for at least five years after graduation. The Ohio Housing Finance Agency has announced that all information on the program is available by visiting www.ohiohome.org or calling toll-free 888-362-6432.

By purchasing a home in Ohio, graduates are building loyalties and connections to the communities in which they live. The Fordham study suggests that the more a student becomes involved in the surrounding communities through local attractions like museums and concerts, the more likely they are to establish permanent roots to work and raise a family in that community.

The future generations of Ohio are leaving and becoming the engineers and scientists of tomorrow in other states. the future of Ohio is sure to be promising if we can retain out college graduates and continue to reenergize the economy of our great state.