A state audit found The Department of Economic Development did not do enough to avoid Moberly's Mamtek disaster
Wrap: The artificialsweetener company Mamtek closed due to a financial meltdown before it even began production in Moberly.
State Auditor Tom Schweich found the Department of Economic Development did not thoroughly check Mamtek's financial credibility before it pledged 18 million dollars in state incentives.
|Description: "you look diligently at whether they have these capabilities. Mamtek was going to produce sucralose. They claimed they had a plant in China, they had patents and had money in the bank."|
But they didn't.
Mamtek did not have the resources to build the factory that would have employed 600 Missourians.
The audit found the department did not follow the common practices used to evaluate projects like Mamtek.
Reporting from the state Capitol, I'm Taylor Beck.
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