Mo. House panel to investigate Mamtek incentives
Thursday, October 27, 2011
JEFFERSON CITY, Mo. (AP) — Another Missouri legislative committee plans to review the state’s involvement with a Moberly business deal that has fallen through.
The House Interim Committee on Government Oversight and Accountability plans to investigate the deal involving Mamtek U.S. Inc., which has halted work on a factory that was to produce an artificial sweetener. The city of Moberly had issued $39 million in bonds to help build the facility, and the state had offered about $17 million of incentives. But Mamtek missed a payment for the bonds.
The new committee is chaired by Rep. Jay Barnes, of Jefferson City. He says the panel will review the role of the Missouri Department of Economic Development to see if any mistakes were made.
A Senate committee also has been looking into the Mamtek deal.