(WHDH) — In an effort to attract younger residents, officials in Maine say they plan to use tax incentives to help newcomers pay off outstanding student debt.
The Educational Opportunity Tax Credit program, which started in 2008 to help retain college graduates already living in Maine, has since grown into a pitch to attractive potential out-of-state job candidates, according to CNN.
Under the program, money spent each year toward paying down loan debt will be subtracted from state income taxes.
“We need to attract people from other states for our workforce,” Nate Wildes, of Live + Work in Maine, told the news outlet.
Those who study in the fields of science, technology, engineering, and math are eligible to receive a check from the government if their loan payoff totals more than their taxes.
The median age in Maine is 44, which is five years older than the median age across the rest of America.
“We need to import people,” Wildes added.
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