Mo. senators seek economic development records
Wednesday, October 5, 2011
JEFFERSON CITY, Mo. (AP) — A Missouri Senate committee is starting its probe into recent economic development projects that have received public incentives and run into trouble.
The committee held its first hearing Wednesday but took no testimony. The panel plans to ask the state Department of Economic Development for documents related to projects in Moberly and Kirksville.
The Senate review comes after recent attention to efforts to build an artificial sweetener plant in Moberly.
Mamtek U.S. Inc. planned to employ several hundred people at the plant. Moberly issued $39 million in industrial development bonds and the state offered more than $17 million in incentives, although no state funds went to the company.
But the plant still is under construction and the company has laid off its employees. Mamtek also has missed a bond payment.