The Missouri Department of Economic Development Knew the Potential For Failure With Mamtek
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The Missouri Department of Economic Development Knew the Potential For Failure With Mamtek

Date: November 29, 2011
By: Stacey Kafka
State Capitol Bureau

Intro: 
As the Department of Economic Development promoted Mamtek to the city of Moberly, they knew that the company wasn't as legitimate as they originally thought.
RunTime:  0:53
OutCue:  SOC

Wrap: The artificial sweetner company said it had a plant in China after it's attorneys confirmed the plant existed.

However no one else can confirm this.

Corey Mehaffy, President of Moberly Area Economic Development Corporation says the Department of Economic Development has not been helping the community get out of this economic disaster.

Actuality:  MAMTK2.WAV
Run Time:  00:06
Description: "How many contacts have you had with DED since early September? About the contract, none that I'm aware of."

In an April 9th email, the Department of Economic Development said "we cannot get any of their finance information."

Representative Jay Barnes says the department should make filling the empty Moberly plant a priority.

Actuality:  MAMTK3.WAV
Run Time:  00:07
Description: "They need to stop what they're doing and make filling that factory in Moberly their top priority."

The Department of Economic Development was not immediately available for comment.

Reporting from the state Capitol, I'm Stacey Kafka.

Intro: 
The Nixon administration was aware of financial problems Chinese company Mamtek had while they promoted building a new plant in Moberly.
RunTime:  0:44
OutCue:  SOC

Wrap: In an April email between an Economic Development official and an administration staff member in China, the staff member told the Economic Development official the Chinese plant was built, but they abandoned the factory.

At the same time the administration pushed for Moberly to build a Mamtek factory.

Months later, Mamtek abandoned Moberly leaving the city with nearly $40 million in bonds.

Representative Jay Barnes says the department needs to act now to fill the empty Moberly plant.

Actuality:  MAMTK3.WAV
Run Time:  00:07
Description: "They need to stop what they're doing and make filling that factory in Moberly their top priority."

There was no immediate response from the Department of Economic Development for comment.

Reporting from the state Capitol, I'm Stacey Kafka.

Intro: 
While pushing Moberly to back forty million dollars in bonds for a Chinese company, the Department of Economic Development knew the company might not be able to pay back these bonds.
RunTime:  0:42
OutCue:  SOC

Wrap: In communication between an Economic Development official and an administrative staff member in China, the Department found Mamtek had financial issues.

The sweetner company was said to have a plant in China, but only Mamtek staff members confirmed this.

Corey Mahaffy President of Moberly Area Economic Development Corporation says the city wanted to get information from someone who visited the plant.

Actuality:  MAMTK4.WAV
Run Time:  00:11
Description: "We had at that point not spoken with anyone who had been at the facility, we wanted to speak with someone who had kick the tires, so to speak, so we could ask some questions about the facility and verify the information."

The Department of Economic Development was not available for comment.

Reporting from the state Capitol, I'm Stacey Kafka.


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