Governor Mike DeWine and Lieutenant Governor Jim Tressel announced details of Ohio's fourth Innovation Hub in Youngstown on Thursday.

The hub will be located at the old Vindicator building on West Front Street. 

The announcement unveiled the latest project funded by the $125 million Ohio Innovation Hubs Program. The DeWine administration, in collaboration with the Ohio General Assembly, established the program to stimulate investment outside of Ohio's major metropolitan areas.

Companies that specialize in Aerospace and Defense will move in after the building is renovated. Businesses that already have a presence in the Mahoning Valley like JuggerBot 3D and Ursa Major have already committed to moving in. Both specialize in Additive Manufacturing also known as 3D printing for the Department of Defense.

In January, the Youngstown Board of Control approved a $1.35 million grant for the Youngstown Business Incubator's (YBI) plans for the former Vindicator building in downtown Youngstown.

A $26 million grant from the Ohio Department of Development will support YBI's planned conversion of the former Vindicator building into a hub for advanced manufacturing, further solidifying the Valley's manufacturing presence alongside YBI and America Makes.

Youngstown Mayor Jamael Tito Brown, who along with State Senator Al Cutrona who attended Thursday's event, stated previously that the grant is an investment in the city's economic future that extends beyond downtown.

"Having an innovation hub would mark a major turning point for the city and further catalyze the momentum we are seeing downtown," Mayor Brown said.

The city's contribution is from its business development fund, and was approved by both Mayor Brown's administration and city council.

Innovation Hubs aim to combine the resources of academic and research institutions, workforce and economic development partners, and private companies to foster collaboration and gain a competitive advantage.

Last year, Governor DeWine announced the first three Innovation Hubs: the Northwest Ohio Glass Innovation Hub in Perrysburg, which received $31.3 million in July; the onMain Innovation Hub in Dayton, awarded $35 million last month; and the Greater Akron Polymer Innovation Hub, announced in September, which will focus on accelerating polymer science innovations and supporting regional economic growth.

The program, administered by the Ohio Department of Development, is modeled after the Innovation Districts in Columbus, Cincinnati, and Cleveland. It seeks to promote regional economic growth through strategic partnerships and investments.