Niagara Falls, N.Y., proposes paying down student loan debt to attract new residents
Wednesday, August 15, 2012
Young professionals and recent graduates may begin flocking to whichever city is the most affordable, especially since many leave college thousands of dollars in debt. Niagara Falls, New York, recently announced its new incentive for attracting year-round residents: paying down student loans.
While Niagara Falls, Ontario, has flourished because of its emphasis on tourism, Niagara Falls, New York, has historically placed its emphasis on industry. Rampant decrease in industrial productivity has led to devastating results in the local economy.
Builders and property management services will want to take note of the new incentive. A higher percentage of young professionals will likely lead to increased demand for corporate housing, apartments, lofts and other amenities. A larger professional population could also attract new business to the Niagara Falls area.
Nissa Morin, a recent graduate from State University of New York at Fredonia, hopes to take advantage of the program and start her own business in Niagara Falls.
"How many times do you get the opportunity to come into a city and build the ideal neighborhood for yourself?" Morin told The Associated Press.