Half a million undergrad and graduate students will earn their degrees from colleges across Massachusetts this spring.

But many of them will end up moving somewhere else: A recent survey from the Greater Boston Chamber of Commerce Foundation found that roughly a quarter of young adults in Greater Boston are thinking about leaving the area in the next five years.

“We are wicked smart in our state. We have some of the best homegrown talent,” said Secretary of Economic Development Yvonne Hao. “We have amazing public education. And we have, as the governor and lieutenant governor said, the world's best brains coming to our state to study. So the question is, how do we continue to retain that talent?”

Governor Maura Healey said she wants to do something about that. With commencement season picking up, she is pitching her $3.5 billion economic development bill as a tool to help keep those new graduates and their skills in state. GBH State House reporter Katie Lannan joined Morning Edition co-host Jeremy Siegel to talk through the nuts and bolts of the plan. Here’s what you should know, and what it could include.

High costs are driving people away

Healey herself has said the reason that young people leave the state is because of the sky-high housing costs.

Healey’s economic development legislation doesn’t deal with the issue directly, but it has been presented along with a housing bond bill.

“We hear the governor pitching it in concert with another multi-billion dollar bond bill that does focus on housing,” Lannan said. “That bill, also moving through the Legislature, aims to spur the construction of new housing units and opportunities for first-time homebuyers, but also make it easier to build in-law apartments.”

Other factors that have residents considering relocating the Bay State: Problems with transportation and high childcare costs.

“The cost of living pain points affect not only where people choose to live, but where startups and other companies choose to locate,” Lannan said.

Why focus on college graduates?

There have been efforts to target various populations being pushed out of the state, Lannan said, including trying to make community college more accessible for people older than 25 without college degrees.

“But this focus on college students is a recognition that as the Massachusetts population ages, it will ultimately change the dynamics of the workforce,” Lannan said. “People are already coming here from all over the world to attend the state's dozens of colleges and universities.”

Investing in life sciences and climate technology

One thing that could help keep young people in the region: Well-paying jobs.

“The core of this bill is really a pair of billion-dollar, 10-year investments in the life sciences and climate technology,” Lannan said. “To grow those fields, there's going to need to be trained workers.”

The bill includes money for workforce training and funds for the Massachusetts Educational Financing Agency to help students and their families pay for college.

Healey is also pushing for a new tax credit that would reward companies taking on interns from local colleges.

“The idea behind that being that if it's a good work experience and so you have a connection to that company, you're meeting people who work there, developing relationships, it helps you build roots in Massachusetts as a college student or a recent grad,” Lannan said.

What's next

Some part of the bill is almost guaranteed to become law, Lannan said.

“These big bond bills are something the Legislature does every session,” she said. “The question will be what lawmakers choose to include of the governor's specific proposals. And they'll have their own ideas for creating jobs, along with earmarks for local projects from across the state.”

Another question at stake: Will these proposals be enough?

“Transportation, child care, housing — these are all things that Beacon Hill has been talking about for years,” Lannan said. “It's something that goes beyond any one piece of legislation. And something policymakers in Massachusetts are going to have to unwind.”