More than 120 New Jobs Coming to Michigan, $31.2 Million Investment Across Two Companies in Wayne, Charlevoix Counties

LANSING, Mich. - Today, Governor Gretchen Whitmer announced two new small business expansion announcements in Wayne and Charlevoix Counties that will result in more than $31.2 million in capital investment, creating at least 126 new jobs.

"In every corner of our state, people and businesses are choosing Michigan to grow and thrive," said Governor Whitmer. "The results speak for themselves. Our population is growing, and we've been ranked as a top state for opportunity and doing business. Today's $31 million investment by Ricardo, LLC and LM Marine Services will create more than a hundred good-paying jobs and position Michigan as a leader in advanced manufacturing for energy infrastructure and boating. Let's keep working together to grow our economy and help more businesses 'make it' in Michigan."

"Today's announcement further underscores MEDC's commitment to supporting businesses of all sizes as they grow and thrive in every region of the state," said Matt McCauley, Senior Vice President of Regional Development at the Michigan Economic Development Corporation. "We commend Ricardo, LLC and LM Marine Services for their steadfast dedication to expanding their presence in Michigan, creating jobs, and contributing to more equitable, vibrant communities across the state."

Ricardo is a global engineering and manufacturing company committed to creating safe, secure, and sustainable solutions. With operations in more than 20 countries and over a century of engineering and scientific expertise, Ricardo partners with government agencies and private organizations to deliver innovative solutions that build resilient infrastructure, support energy security, and enable sustainable growth.

Ricardo is announcing their plans to establish a new manufacturing line in their Van Buren Township facility to design, develop, and supply a high-performance gasoline-powered internal combustion engine for a customer. This project is expected to create a total capital investment of $24.1 million in Wayne County. To support this expansion, the Michigan Strategic Fund (MSF) has offered support through a Michigan Business Development Program (MBDP) performance-based grant in the amount of $855,000. The project will also result in the creation of at least 114 new jobs with starting wages of $23.10, ranging to $70 per hour per hour plus benefits.

On the expansion, Ricardo CEO, Jason Oms O'Donnell said, "We're delighted to be growing our footprint in metropolitan Detroit, a region with a long, proud history of automotive technology. Having been established in Southeast Michigan for over 35 years, we're excited to embed ourselves further into region, to provide further opportunities for the community and our customers."

"Ricardo's expansion and investment in Van Buren Township is a great fit for the Detroit Region's engineering and assembly talent, and will present new, strong career opportunities for our neighbors," said Maureen Donohue Krauss, President and CEO, Detroit Regional Partnership. "We're proud to have been able to support and partner with Ricardo in bringing this underutilized facility back to life through regional data and research, incentive navigation, and talent connections."

This expansion project will allow Ricardo to produce a flagship product for a customer. Winning this project will be a victory for advanced manufacturing in this state and help secure Michigan as an indispensable player in the future of high-performance specialty engine manufacturing.

"I appreciate the Michigan Strategic Fund's recognition of the importance of manufacturing in Wayne County and its support for investments that can strengthen our local economy," said state Rep. Reggie Miller (D-Van Buren Twp.). "Van Buren Township has a talented workforce and a strong manufacturing tradition, and I welcome projects that create opportunities for residents and help businesses grow. I look forward to following Ricardo's expansion and the positive impact it can have for workers, families and our broader community."

"We are excited about the new investments and job opportunities that Ricardo Performance Products will be making in our community, and we look forward to continuing to work with them as they continue to grow and thrive in Van Buren Township," added Kevin McNamara, Supervisor of Van Buren Township.

In addition to MSF support, Southeast Michigan Works! has offered support in the form of workforce development support services.

LM Marine Services, LLC, dba Lake Michigan Yacht Sales Charlevoix , is announcing their acquisition of a 33,000 square-foot building in Charlevoix. The building will comprise of yacht sales and management, office space, and company operations. Phase 1 of the project will include renovations and upgrades to the existing structure that already exists. Phase 2 of the project will construct an additional 35,000 square-foot building on the east end of the property. This new structure will connect directly to the existing facility and provide additional room for servicing and warehousing.

"We are thrilled to be moving forward with this project that will directly benefit our Northern Michigan customers. Boating has always been such a huge part of our communities, and we are so fortunate to be part of that and part of its continued growth," said Matt Mrozinski, President, Lake Michigan Yacht Sales. "The MEDC played an integral role in making this happen, and we cannot thank them enough for all of their efforts. Charlevoix Township and the Northern Lakes Economic Alliance have also done so much to help move this project forward."

It is anticipated that the expansion and construction project will result in $7.15 million in capital investment along with the creation of 12 jobs with wages beginning at $25 per hour plus benefits, over $3.00 more than the regional median wage of $21.75. Support for this job creating expansion comes from the MSF through an MBDP performance-based grant in the amount of $150,000.

"Northwest Michigan Works! is proud to partner with LM Marine/Michigan Yacht Sales as they expand their operations in Charlevoix County," said Jessica Willis, LMSW, Director of Northwest Michigan Works! "By creating new, high-quality career opportunities, LM Marine Services Sales is investing meaningfully in the region's economy and workforce. We welcome the opportunity to support their efforts."

The renovations and upgrades that the company is exploring at the project site would greatly benefit the community and ultimately raise the value of the surrounding properties after the expansion is complete. The company is committed to remaining a key player in the economy of Northwest Michigan.

"We were proud to work alongside LM Marine to support their continued growth in Northern Michigan," added Payton Heins, CEO of Northern Lakes Economic Alliance. "With the creation of these new, family-sustaining career opportunities and planned improvements to an existing industrial property, the impact of this investment will be felt well beyond the walls of the facility for years to come."

LM Marine Service's parent company , Onekama Marine Inc., was established in 1963 by the Mrozinski family in Onekama, Michigan, and developed a strong reputation for stellar service and fair pricing in the boat servicing and maintenance industry. In 2002, Matt Mrozinski opened a premier sales showroom in Bayshore doing business as Lake Michigan Yacht Sales. Revenues from the showroom have steadily increased and put the company in a position to capitalize on their growth by opening a larger facility for the company's operations. LM Marine Services, LLC was established to enable the company to pursue its plans for growth in the region. The company employs eight Michiganders and was established in 2025.

NOTE FROM THE MEDC:

Investment and job numbers represent the commitment made by the business to the state of Michigan. Terms will be formalized in a performance-based project agreement, with funds disbursed as milestones are reached, and are subject to amendment or cancellation if the commitments are not met due to risks or uncertainties. The Michigan Economic Development Corporation provides a public annual report on agreements and their status to the state legislature.

About Michigan Economic Development Corporation (MEDC)

The Michigan Economic Development Corporation is the state's marketing arm and lead advocate for business development, job awareness and community development with the focus on growing Michigan's economy. For more information on the MEDC and our initiatives, visit www.MichiganBusiness.org. For Pure Michigan® tourism information, your trip begins at www.michigan.org. Join the conversation on: FacebookInstagramLinkedIn, and Twitter.