Indiana small city offers big incentives to lure young, educated workers

How much would it take for you to relocate another city? Smaller cities and rural counties are offering major incentives for people to move.

In Grant County, Indiana, prospective workers can receive up to $5,000 for a down payment and closing costs on a home and get up to 20% off rent through the “Grant for Grads” program -- in exchange for agreeing to live in the community for at least five years.

The program, aimed at attracting and keeping skilled workers in the county, is for first-time homebuyers who have earned a four-year college degree, associate’s degree or technical certificates.

And in this labor market where there are plenty of jobs, some businesses are having difficulties recruiting young, educated talent.

Advanced Cabinet Systems in Marion, Indiana, is just one example of a company that can’t find enough qualified workers, and where people have jumped on the bandwagon to take advantage of the program.

“It’s really helped out a lot,” said owner Phil Bowers to FOX Business’ Jeff Flock.

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Indiana’s unemployment rate was at 3.4 percent in March and remained significantly lower than the national average of 4.1 percent, according to the Indiana Department of Workforce Development.

But just as businesses have jumped on the opportunity to create incentives, so is Grant County.

“The county is coming around to the idea because they see how much it really helps our local employers and anything we can do to help them thrive in this community is a good thing,” said Grant County Economic Growth Council Victoria Herring.