By Brandon Klein, Crain’s Cleveland Business
The Youngstown Business Incubator has moved a step closer to expanding its campus in downtown Youngstown.
YBI, which owns four buildings, received $3 million from the U.S. Economic Development Administration today to renovate the old Vindicator newspaper office building to expand its focus on additive manufacturing and business-to-business software.
The cost of the project to renovate the building at Vindicator Square and West Boardman Street is $5 million. The organization received $1.5 million from the Ohio Capital Appropriations budget and $500,000 from the City of Youngstown for renovations.
The space will be used for start-up space for additive manufacturing companies and graduate space for start-up firms that have entered the market.
“Right now, YBI’s graduate space on our campus is fully occupied. This is an investment that we have to make if we want to retain – and attract – the best and brightest to downtown Youngstown,” Jim Cossler, CEO of YBI, said in a statement.