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N.H. Bill Would Set Up Financial Incentive for Recent College Grads Who Stay in State

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Allegra Boverman for NHPR
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New Hampshire State House.

The House considered a measure Wednesday to provide a financial incentive for recent college grads to stay in New Hampshire.

 

This bill would create a voluntary program: Employees would get a minimum of $1,000 a year for the first four years they stay in the state. That would be paid for by their employer, not the taxpayer. But companies that participate would be able to work with a network of colleges in the state to attract recent grads.

 

Joe Murray with Fidelity spoke in favor of the bill. As one of the state's largest employers, he said they're looking for ways to hold on to younger folks who struggle with student loans.

 

"Our data shows that employees with student loan debt often have to delay life events such as saving to buy a home, starting a family or saving for retirement," Murray said.

 

Will Arvelo, director of the Division of Economic Development, said the measure would be a new tool for employers that struggle to attract and retain a younger, skilled workforce.

 

"My belief is that, they're so desperate, that I can foresee a lot of employers jumping on board and supporting this program," Arvelo said.

 

The bill already passed the Senate with a unanimous vote.

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