YOUNGSTOWN — The Youngstown Business Incubator hasn’t received approval on its $26 million state funding request to help create an innovation hub for aerospace and defense in the city’s downtown, but its CEO remains optimistic about the proposal’s chances.

“We are still anticipating an award,” said Barb Ewing, YBI’s CEO. “We’ve had very good interactions with state officials and a lot of support from them for the project. We’re still waiting as there’s been a lot going on with the state.”

Ewing added: “We’re grateful to everyone for getting us to this point. We have not heard anything that causes us concern. It’s just a timing issue.”

Ewing was expecting to hear last month on the $26 million request.

But with the political maneuvering in Ohio — J.D. Vance moving from senator to vice president, Jon Husted replacing him and opening up the lieutenant governor’s position and the need to now replace him — in addition to the start of a new legislative session, a decision hasn’t been announced.

YBI wants to house the innovation hub at the former Youngstown Vindicator building on the corner of Vindicator Square and Front Street downtown.

One of the conditions of getting the $26 million in state funding is a $4.3 million local match, Ewing said.

YBI’s local match is $11 million, which includes a $1.35 million commitment from Youngstown City Council paid in four installments over four years as well as several other funding sources from foundations and corporations.

Also, there is $43 million in federal funding for activities related to product development and commercialization to take the aerospace and defense products to market.

The initiative’s impact would be $191.7 million over the next four years with creation of 271 jobs, with average projected annual salaries of $81,806, as well as 481 additional indirect jobs, Ewing said. Of the 271 new jobs, about 150 would be located in the former Vindicator building at 107 Vindicator Square, which has about 130,000 square feet, Ewing said.

Without the state funding, leasing and redeveloping the building would be very difficult, Ewing said.

The old Vindicator closed five years ago with its name, subscription list and website purchased by the Tribune Chronicle, which continues to publish the newspaper.

The initial plan is to lease the downtown building and redevelop it before eventually purchasing it.

The plan would be to house expansions of JuggerBot 3D, a manufacturer of industrial 3D printers, and Ursa Major, a rocket propulsion company, at the building, she said.

It would cost about $26 million to renovate the building with electrical upgrades being costly.

YBI purchased the original Vindicator building, across the street from the other location and renamed Tech Block Building No. 5, in 2015 for $654,500.

YBI owns five downtown buildings.