Marine Trades Institute announces pause on construction project

What’s happening: The Marine Trades Institute in Cedarville has paused construction on a planned expansion, following an evaluation of the school’s financial position by a special committee formed in the summer. The institute, formerly the Great Lake Boat Building School, broke ground on the state-of-the-art building in July. The new facility was poised to house its Marine Technology School.

The evaluation: The special committee spent weeks consulting with donors, industry partners, construction experts, and financial advisors before making this decision. The committee identified several factors that led them to recommend the pause on construction. Escalating construction costs presented the most significant barrier to the success of the project, with the estimated cost for the 10,000 square-foot training facility rising from $4 million to $8.5 million.

The expansion project was supported by an EDA grant, which would have provided a significant portion of the cost of this project. However, because of the grant’s tight timelines and contractual requirements, the Institute was left with limited ability to adjust building plans to lessen the overall cost of the project. 

What they’re saying: “Our commitment is, first and foremost, to the success and stability of the Institute, our students, and the marine industry,” the institute’s board of directors said in a joint statement. “After extensive consultation with advisors, partners, and stakeholders, we believe this pause allows us to address financial challenges responsibly while planning for future growth. Our overarching goal is to ensure responsible stewardship of philanthropic gifts and other MTI resources.”

What’s next: The board emphasized that this decision is not an end to MTI’s vision for growth, but rather an important strategic recalibration, allowing MTI to explore a more appropriately scaled project that better supports enrollment patterns, market conditions, and financial realities. Moving forward, MTI leadership and the board will focus on strengthening financial stability and reducing debt, while building enrollment and expanding student support. The board is also moving forward with plans to recruit new leadership to guide the next phase of growth. Former President Nikki Storey left that role in August.