Auditor Hits Mo. Dept. of Economic Development Over Mamtek

Photo courtesy of Creative Commons

Add Tom Schweich to the list of critics of the way Missouri economic development officials handled Mamtek.

The State Auditor Tuesday released a report hammering the Missouri Department of Economic Development for too-little due diligence of the failed sucralose plant in Moberly, and finding similar, if less-dramatic, shortcomings in other projects.

Schweich’s audit came after legislative hearingsa flurry of lawsuits and – last week – criminal charges against one key player in the debacle that left tiny Moberly with a half-built sweetener plant and $39 million in debt. It focused on the role of DED, which developed an incentive package and authorized bonds – which were later issued by Moberly – to help bring Mamtek to Missouri. Read more on St. Louis Post-Dispatch.

Tags:, , , ,

Leave a Reply

Have you heard?

Missouri Business Alert is participating in CoMoGives2019!

Find out how we plan to use your gift to enhance training and programming for our students

Learn more