We all talk about how to keep graduates of Iowa’s colleges and universities in the state. There are all kinds of internships, incubators, accelerators, mentorships, signing bonuses, added perks, and flexible hours.

Some universities take pride in the percentage of their graduates who stay in the Greater Des Moines area. But the Greater Des Moines Partnership, the Technology Association of Iowa, the colleges and universities and others still work hard to keep workers here. In technical fields alone, there can be 54 jobs out there for every qualified candidate.

We decided to push the issue by asking a handful of local leaders to answer this not-so-simple question: What one thing can Iowa do to help keep Iowa college and university graduates in the state?

You’ll notice something of a pattern here, with a number of speakers noting that Greater Des Moines is holding on to more young professionals these days, but adding that we can build on that success, especially in technical fields. 

 

Kent Henning, President, Grand View University
Use internships, community engagement to paint a picture

Give students an authentic picture of what their careers and lives in Iowa will look like through internships and community engagement. More than 90 percent of Grand View graduates, including 60 percent of out-of-state students, remain in Iowa after graduation. Nearly all of our graduates have had internships or some other form of workplace experience as a part of their education. We also connect our students with the Des Moines area through community service, and we help students take advantage of the area’s cultural and entertainment amenities. By the time they graduate, our students have a good picture of what their careers and lives in this area will be like. Central Iowa sells itself. While this is easy for our students, because we are located in Des Moines, there are ways to replicate these experiences for students from outside the area.

A second thing: Iowa could set itself apart a bit by allowing employers to offer student loan repayment benefits as a “sign-on” incentive and exempt that benefit from state income tax. 

Explanation: Currently, the first dollar of such a “signing bonus” would be subject to federal and state income taxes. If an employer offers tuition benefits to its current employees, however, the first $5,250 of those tuition benefits are exempt from taxes. It only seems fair to extend a similar tax break if employers are willing to assist with the educational expenses of their employees who completed their education prior to employment. Recent graduates will respond very well to employers’ assistance with student loan relief; enacting a tax break will help encourage employers to offer such an incentive.