Marine Trades Institute Pauses Expansion to Reassess Costs and Ensure Sustainable Growth
Published: Sunday, October 5, 2025 10:00 am
The Marine Trades Institute (MTI) Board of Directors has announced a decision to pause construction on its planned school expansion project. The decision follows a comprehensive review led by a special committee formed earlier this summer to evaluate the school’s financial position and strategize for long-term sustainability.
“Our commitment is, first and foremost, to the success and stability of the Institute, our students, and the marine industry,” said the Board 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.”
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 sq. ft. 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. Any significant changes would have compromised grant funding, leaving the Institute with limited options of how to proceed with the expansion.
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 of Directors 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. With the current campus expansion paused, focus will shift to engaging donors, alumni, and industry partners in shaping a new project. Although construction has begun, only foundational work has been completed, which can be preserved and incorporated into future expansion projects that will better fit the needs of MTI and its students.
“MTI remains strong and committed to its mission of training the next generation of marine trades professionals,” said Interim President Brody Waybrant. “We see this as an opportunity to regroup and ensure that any expansion project leads to increased sustainability and is student-focused and supported by the resources needed to thrive.”
tags: Boating industry workforce, Boating workforce training, Financial sustainability, Marine education programs, Marine industry education, Marine trades careers, Marine Trades Institute, MTI expansion project, School construction pause, Student-focused growth, Vocational training
