July 9, 2010
Multinational producer of sugar substitute to open production facility in Moberly; invest $46 million in local economy
Gov. Nixon announces creation of 612 new manufacturing jobs in Moberly
MOBERLY, Mo. - A cutting-edge global production facility will create 612 new jobs in Moberly, Gov. Jay Nixon announced today.
Mamtek International, a multinational company that produces SweetOTM, a brand of the Sucralose sugar substitute, plans to base manufacturing operations in a facility owned by the city of Moberly and invest $46 million into the local economy. The Governor made this announcement at Moberly Area Community College, joined by company executives, state and local government officials, and community leaders.
"At a time when too many American companies are shuttering their plants and moving jobs overseas, we are thrilled to have a global company creating hundreds of good manufacturing jobs right here in Missouri," Gov. Nixon said. "These jobs will be a significant boost to Missouri's economy and our manufacturing sector, and they're another positive sign that our economy is beginning to move forward. I am pleased that my administration was able to provide a competitive package of strategic economic incentives to help bring these jobs to Missouri."
As part of its package of strategic economic incentives, the state of Missouri awarded Mamtek $7.6 million in Missouri Quality Jobs Program tax credits and $6.8 million in Missouri BUILD program tax credits. The state also provided $2 million in Community Development Block Grant Industrial Infrastructure Program grant funds; $800,000 in funding for job training; and $368,000 for employment recruitment and referral services.
Additional funding is being provided by $37 million in bond sales initiated, structured and committed by the city of Moberly and $8 million from private investors. Moberly also has made grants and services available to Mamtek in excess of another $500,000.
Mamtek International is a multinational company with significant American and Chinese ownership and leadership. The company's primary product, SweetOTM, is a no-calorie, no-carb sweetener used in everything from carbonated beverages to baked goods.