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STAYING HOME: Gov. Cuomo proposes plan to help grads plant roots

Gov. Andrew Cuomo wants to keep recent-graduates in New York State.

In a proposal announced this week, the governor said that he wants to establish a program that will encourage recent-graduates to buy a home in Upstate New York.

Particularly, he wants to see upstate’s cities retain their young people. He said that the program would be aimed at keeping those young, college graduates in downtown spaces — the same way college graduates in New York City stay inside the city.

Opponents of the plan have already said that there are other economic factors involved — beyond simply being able to afford a home.

Literature sent out by Gov. Cuomo states that the initiative “will foster new regional magnets where businesses may access New York’s diverse and talented workforce, setting the stage for the entrepreneurial energy needed to continue revitalizing upstate New York’s downtown areas.”

The number of students in New York City who stay locally after graduating from college sits at 71 percent. Upstate lags far behind that number, and is a large reason for the mass-exodus taking place throughout the state.

Data released last month revealed that New York State lost the equivalent of it’s fourth largest city in population last year to other states. The primary winner of those leaving the state was Florida, who is viewed as having a more favorable tax climate for individuals and businesses.

It’ll be called the Graduate to Homeownership Program, and will cost the state $5 million in this year’s budget. If it’s adopted as proposed by the governor.

Gov. Cuomo notes that it will help incentivize staying local for young people. While also working in chorus with the Downtown Revitalization Initiative.

The executive budget is expected to be completed next week for state legislators to begin mulling over.

It remains to be seen how members of the two legislative chambers will warm up to this program, which appears to leave out large portions of rural New York.

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