One 'argument' that people don't often think of is recruiting and hiring. I recruit for many companies, and the level of applicants I receive for jobs in the more emerging language communities is well above the applicants I usually get for more traditional languages. My evidence is anecdotal, but when I posted Clojure or Scala jobs (and recently Go) I received fewer applicants! but almost all of them were highly qual…
My observation (at a Baltimore company) was the exact same. When you post Clojure job ads, your pool becomes national and get rock-solid people who'd be top-2% in the Java pool. The difference is night and day.
The location is a disadvantage, except for local candidates. (There is a lot of talent in Baltimore-- more than you'd think based on the city's reputation-- but the set is small and quickly exhausted for a larger company.) Great programmers who don't mind using Java or C++ have moved on to hedge funds or upper management in the Valley by age 30. Convincing them to take a risk on a geographic move won't happen. The Clojure pool is national-- there are some really great people who will take that risk if you can promise them full-time work in their preferred language. (Being able to make this promise is rare.)
That said, as a sell to upper management, this argument tends to be unsuccessful in my experience. It is 100% true. But the way it sounds is, "People who like the same languages as I do are way better." You can probably understand why managers are skeptical of that claim-- as true as it is.
What's happening in software is that, because 90% of the work in the industry is mindless, ticket-munching bullshit (CommodityJavaDrone stuff) the top programmers are all finding ways to distinguish themselves-- this is something you have to start thinking about by 28, and you have to have a path by 32, lest you be confused for a CommodityJavaDrone and be put on bullshit work (in which case you'll be flushed out by 40)-- as "too good" for junior-level, predigested grunt work. Some become "Data Scientists" or "Machine Learning Engineers" or "Research Engineers". Some learn a lot of nontraditional languages (Clojure, Haskell, Rust). The few who have the connections become startup founders. Others get "special" engineer titles in big companies (Principal Staff Architect XIV). You won't get anyone good (meaning top 5%) over 30 unless you can establish that the job is "special"-- that they won't be lumped in with regular ol' engineering plebes who have minimal autonomy and are basically there to do what they're told-- but managers see that price of talent as a political risk they'd rather not take. It's hard to address these sociological facts (as one of those "older" (30+) top engineers) without coming across as an arrogant twat. The CommodityJavaDrone engineer mentality is borne of a managerial misconception that those older, top engineers aren't needed, that one can just hire college kids on the cheap and mash them together as if they were all the same... but it's completely wrong. A tech company rots if it can't get top talent.