The paper focuses on human capital gains and losses in the state of Indiana that are due to migration. Overall, Indiana’s human capital gain is small and does not compare favorably that of other states. This is primarily due to Indiana not having been able to attract its fair share of the highly educated workers who are disproportionately attracted to coastal states. Without the influx of highly educated immigrants, Indiana would severely lose human capital. Moreover, young highly educated women are identified as playing a major role for Indiana’s human capital accumulation.