Nerdy Cities Want to Sit at the Cool Cities' Lunchtable

Now officials in some cities and states are looking to reverse the trend -- by marketing themselves as hip places to live and giving college graduates a reason to stay.

In Michigan, [Governor Jennifer] Granholm has launched the "Cool Cities" initiative, a grants program that she insists is more about economic development than just bringing "lattes and bookstores and nightclubs" to her state.

Saugatuck, where residents are renovating an old pie factory into a center for the arts, was among the first to receive one of the state's $100,000 grants.