A $62.2 million investment, with $27.2 million from state funding, is paving the way for the Youngstown Innovation Hub for Aerospace and Defense. This project is expected to significantly bolster the local economy and create up to 750 new jobs over the next four years.
Governor Mike DeWine expressed that this initiative aims to reduce reliance on foreign manufacturing, especially in national defense sectors.
The project is led by the Youngstown Business Incubator and America Makes, alongside various partners. It has received a $26 million award from the Ohio Innovation Hub Program, marking the final allocation from a total of $125 million set aside for such projects.
Additionally, a $1.2 million grant from the Ohio Department of Natural Resources will fund the design and engineering of the new facility located in the former Youngstown Vindicator building. An $11 million local match will also support this development, including contributions from the city and other foundations.
The federal government is contributing $25 million for product development and commercialization, focusing on 3D printing to facilitate the production of military equipment.
By 2029, the hub is projected to generate $161.6 million in economic impact and create 450 new jobs, including 100 construction jobs. A comprehensive workforce development initiative aims to upskill the local workforce, providing 185 STEM credential opportunities and 40 internships.
Expectations are that the jobs will be filled by both local residents and those from outside the area. The initiative is anticipated to have an economic impact of $191.7 million over the next four years, creating 271 new jobs with average salaries of $81,806.
The hub will also house expansions for JuggerBot 3D and Ursa Major, contributing to the growth of the aerospace industry in the region. Renovations for the building are estimated to cost between $20 million and $25 million.
Local leaders, including Youngstown Mayor Jamael Tito Brown, hailed this project as a transformative investment for the region, solidifying its status as a leader in additive manufacturing. The collaboration and commitment shown over the past two years highlight the potential for lasting impact on the community.
The $26 million award is the smallest from the innovation hub program, as it utilizes nearly all remaining funds. This initiative is part of a broader strategy to enhance Ohio's position in various technological fields, including glass science and digital transformation technologies, through collaboration between academic institutions and private companies.
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