Hartford Business Journal

16 HARTFORDBUSINESS.COM | AGUST 23, 2021 By Michelle France mfrance@hartfordbusiness.com Y oung professionals help stimulate the economy, drive innovation and provide companies the talent they need to succeed, and over the years, Connecticut has fallen short in attracting and retaining them. Then the 2020 pandemic hit. "Last year, Connecticut emerged as the top destination for those looking to relocate due to the coronavirus," said Cristine Castonguay, brand director of the state Department of Economic and Community Development (DECD). "People are moving from bigger cities and opting to be closer to families, which has been beneficial to Connecticut," she continued. "Connecticut is more attractive than ever." Indeed, over 27,000 people left New York City and its surrounding metro areas for Connecticut last year, according to a CBRE analysis, which contributed to one of the state's hottest housing markets in more than a decade. The analysis, however, didn't break down the ages of those who relocated to the state, so it's not clear what percentage were young professionals, who are typically between the ages of 22 and 40, with varying education and experience levels, Castonguay said. And we still don't know if Connecticut last year was able to increase its overall population. U.S. Census Bureau migration data, which tracks people moving in and out of states, typically publishes in the fall. Regardless, state and regional economic development officials believe now is a good time to capitalize on the trend of more people seeking out smaller cities and Stemming the Brain Drain CT launching several initiatives aimed at attracting, retaining young professionals Christine Castonguay The state of Connecticut and others are working on several initiatives to attract and retain young professionals like Sabrina Tucker-Barrett, 40, of Bloomfield, who launched a Hartford-based nonprofit, Girls For Technology. PHOTO | CONTRIBUTED suburbs as a result of the pandemic, and they are taking a few concrete steps to target young professionals in particular. Attracting and retaining Prior to the pandemic, Connecticut for years had been fighting a brain drain as many recent college graduates chose to relocate to larger cities like New York and Boston, or to locations with a cheaper cost of living. According to a 2020 report from the Governor's Workforce Council, only 34% of four-year college graduates remained in-state one year after their 2017 graduation. In comparison, Massachusetts retained 42% of their graduates and New York 53%. One bright spot is that Connecticut has seen a small increase in people living in the state who are between the ages of 20 and 34. That population cohort grew 6% between 2012 and 2019 and makes up about 19.2% of the state's overall population, U.S. Census data shows. Lawmakers have even considered perks to try to make the state more attractive to young professionals. In 2017, for example, the legislature passed a bill that provided an annual $500 income tax credit to recent college graduates who received a degree in math, science, technology or engineering and remained in Connecticut to live and work. That tax credit was eliminated by Gov. Ned Lamont, who later announced a different grant incentive program for high-achieving college students that remained in Connecticut. Last month, Lamont and the DECD launched a new online hub, CTforMe.com, aimed at attracting and retaining young professionals. It's one of the state's first initiatives to target young talent, according to Castonguay. CTforMe.com offers career and entrepreneurial resources, and highlights what the state has to offer — such as its rich arts and culture scene, growing tech sector and walkable cities — to help sway young professionals into making Connecticut their home. The website also features young professionals who are planting roots in the state. Sabrina Tucker-Barrett, 40, of Bloomfield, is featured on the site. The New London area native and Charter Oak State College graduate said she chose to raise a family in Connecticut and launch a Hartford-based nonprofit, Girls For Technology. The organization, which was founded in 2015, focuses on bringing girls between the ages of 11 to 17 closer to technology and engineering. "Connecticut is a very friendly place for women entrepreneurs," she said, adding that Black women entrepreneurs are also a fast-growing group in the area. The central location between New York and Boston expands business opportunities, and the Connecticut

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