To boost its appeal to businesses that might potentially relocate, the city of Hamilton has crafted a plan to attract college graduates with cash incentives.
The Talent Attraction Program Scholarship offers young professionals up to $5,000 to move to Hamilton. The scholarship program was created by the Hamilton Community Foundation.
According to Bob Long, a member of that organization, currently around 15% of residents here have a college degree. It is anticipated that the incentive will push that percent up, and thereby increase the city’s appeal to businesses thinking of locating here. Long said the move would attract young and energetic people to the area.
Applicants must not be living in the city during the application process, should have a minimum of $5,000 in outstanding student loans, and have graduated from a ‘STEAM’ program within the last seven years.
Business card printing services will be among the first local businesses to benefit from the scholarships, as the winners will have to meet employment and residency requirements in order to receive the funds.
In 2018, just 10 young professionals will be selected; however the Hamilton Community Foundation hopes to increase the number of recipients per year in the future. Applications will be accepted beginning in March and those chosen will receive a maximum of 25 monthly installments of $200.
