facebooktwitterRSS
- Advertisement -
  • Most Commentedmost commented up
  • Most Emailedmost emailed up
  • Popularmost popular up
- Advertisement -
 

« News Home

The Youngstown Business Incubator is seeking $5 million to renovate a downtown building



Published: Tue, March 11, 2014 @ 12:05 a.m.

Organization would buy Vindicator office building then seek state funds to renovate for 3D expansion

photo

The Youngstown Business Incubator is seeking $5 million from the state to renovate The Vindicator’s office building on the corner of Vindicator Square and West Boardman Street for an expansion project. The incubator would use other funding to purchase the building.

By David Skolnick

skolnick@vindy.com

YOUNGSTOWN

The Youngstown Business Incubator, which owns four downtown buildings, is seeking $5 million from the state for a fifth to expand its focus on additive manufacturing and business-to-business software.

The organization submitted a proposal to receive money from the state capital budget to renovate The Vindicator’s office building on the corner of Vindicator Square and West Boardman Street for an expansion.

Any money received from the state would go toward renovations with YBI using other funding sources to purchase the building, said Barb Ewing, the incubator’s chief operating officer.

“We are well-positioned to cobble the money from different sources” to buy The Vindicator building, she said.

Mark Brown, the newspaper’s general manager, said he’s had discussions with YBI officials about selling the building.

“We don’t have an agreement in writing,” he said.

“The discussions are based on YBI obtaining funding” to purchase the structure.

The Vindicator also owns a larger and newer building on the corner of Vindicator Square and West Front Street, the location of its newsroom, printing press and loading docks. Brown said there is plenty of space at that location to accommodate the entire newspaper staff.

Ohio Senate Minority Leader Joe Schiavoni of Boardman, D-33rd, said Republicans tell him a decision on how much money would be in the state capital budget and what projects would receive funding is expected before the Legislature recesses for the summer.

Other local projects in addition to The Vindicator building renovation project submitted for state capital budget include: an amphitheater at Youngstown’s Covelli Centre; a Southern Park Historic District in Boardman that would include a museum, picnic areas and communal space; improvements to the Tech Belt Energy Innovation Center in Warren; a riverfront cleanup project in Lowellville; and upgrades to the Tyler History Center in Youngstown, and the Youngstown Historical Center of Industry and Labor.

“When the [capital budget] comes out, hopefully the Mahoning Valley will be represented well,” Schiavoni said.

“It needs to be balanced and fair throughout the state.”

Jim Cossler, YBI’s chief executive officer, said the incubator’s building occupancy is 80 percent to 85 percent, with most of that unoccupied space in its original building at 241 W. Federal St.

YBI also owns the Taft Technology Center and the Semple Building, which are just west of 241 W. Federal St., as well as America Makes, the $70 million advanced manufacturing hub previously known as the National Additive Manufacturing Innovation Institute at 236 W. Boardman St.

“We’re running out of space real fast,” Cossler said.

YBI is “confident” it will receive some state capital budget money as long as the “bill isn’t pulled off the table,” he said.

“You can do it in phases,” Cossler said.

“We don’t have to do it in one bite. We did two rounds of funding for Taft. If we get money in the first round to get it going, we can work” on finding additional money.


Comments

1glbtactivist(246 comments)posted 5 months, 3 weeks ago

No more taxpayer money for this scam. Let these rip-off businessmen make it on their own and stop using corporate welfare to rob the public.

Suggest removal:

2HenryTheBear(23 comments)posted 5 months, 3 weeks ago

Out of all the buildings in the city that need a home, they pick this one? It's been the Vindys building since the 30s and should stay that way. We should preserve our history. I don't see the need to take another occupied building when there are empty ones every where. I'm a big fan of the YBI and wish them nothing but the best but I hope there are other options on the table.

Suggest removal:

3rickking123(288 comments)posted 5 months, 3 weeks ago

Sounds like a ploy by the Vindicator to get rid of a building it no longer needs nor wants.

Suggest removal:

4UticaShale(853 comments)posted 5 months, 3 weeks ago

"MO PORK!"

Suggest removal:


News
Opinion
Entertainment
Sports
Marketplace
Classifieds
Records
Discussions
Community
Help
Forms
Neighbors

HomeTerms of UsePrivacy StatementAdvertiseStaff DirectoryHelp
© 2014 Vindy.com. All rights reserved. A service of The Vindicator.
107 Vindicator Square. Youngstown, OH 44503

Phone Main: 330.747.1471 • Interactive Advertising: 330.740.2955 • Classified Advertising: 330.746.6565
Sponsored Links: Vindy Wheels | Vindy Jobs | Vindy Homes | Pittsburgh International Airport