Company dependent with an assist from the student.
My son interviewed with 19 places. Went to Bama. I think one was in-state. His 5 offers - all over the country. He’s west coast. He ‘applied’ to these jobs - and that’s how they found him. The internet vs on campus recruiting, makes this very common.
My daughter went to school at Charleston. Many, in any major, don’t want to leave the city so they work in hospitality or retail after school. It’s a choice they make. My daughter, however, is in Denver. I work with a C of C grad who lives in Seattle but I think out of college Detroit.
My likely future SIL went to U of Denver for finance. Works at a small firm. The founders aren’t DU grads but last year they hired two from DU as they’ve expanded. This year another. No other hires. So it depends.
I’d likely think large company - where you go matters less. Small company - might be easier to be found locally.
But look at the zillion of colleges in small areas or not near jobs. These kids get jobs.
But I imagine where kids get jobs have more to do with where they apply vs where a school is located. If you go to Indiana and want to return home to work in Chicago and only apply for jobs in Chicago, then that’s likely where you will start your career.