I've seen a lot of 5) where I work. The company that owned our business prior to the current owners had a policy of intentionally hiring local engineering grad

I've seen a lot of 5) where I work. The company that owned our business prior to the current owners had a policy of intentionally hiring local engineering graduates and building their skills. This has held wages in the area below average, I believe, because we have a solid local talent pool who don't want to leave home sweet home (myself included - it's a nice place to live). Part of this is also cost of living - you can get a very nice, new-ish 4000+ sqft house on two acres here for just a bit over $300k.