Two years ago the small northeast Missouri town issued $39 million in bonds to get the company to build an artificial sweetener plant. Mamtek later missed a bond payment and construction halted, and Moberly’s bond rating was downgraded as a result. State Auditor Tom Schweich (R) said the due diligence procedures used by the DED were woefully inadequate.
Credit (via Gov. Nixon's office / video screen capture)
Jason Hall (at podium) with Missouri Gov. Jay Nixon. Hall was Nixon's nominee to be the next director of the Missouri Department of Economic Development in late Dec. 2011. Hall has since resigned following the expiration of the deadline to confirm him.