Zoltek Expands In St. Louis Area With Help From State

Photo courtesy of Wikimedia Commons

ST. LOUIS –  Zoltek Corp. plans to invest $15 million in a new research and manufacturing facility in St. Peters, bringing with it a projected 155 jobs over the next three years, said Missouri Governor Jay Nixon in a public statement.

Zoltek, which currently has two buildings in the St. Louis area, manufactures carbon fibers that can be used in airplane and spacecraft parts, racing car bodies, fishing rods, automobile springs, golf club shafts and other products.

Zoltek’s expansion was partly funded by a $3.3 million economic incentive package from the state of Missouri. The package included $1.5 million in Missouri BUILD tax credits as well as $1.7 million in tax credits from the Missouri Quality Jobs program.

State auditor Thomas Schweich recently lambasted the Missouri Quality Jobs program as being ineffective and woefully mismanaged by the Missouri Department of Economic Development.

The company’s expansion was touted in Nixon’s statement as a recent example of the “positive momentum” in Missouri manufacturing.

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