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.
Senate Republicans have scuttled Gov. Jay Nixon's nominee to direct the Missouri Department of Economic Development.
The Senate Gubernatorial Appointments Committee refused to vote Wednesday on confirming Jason Hall to head the department. Senate President Pro Tem Rob Mayer says he has no intention of bringing Hall up for a committee vote before the deadline to confirm him expires.
The director of Missouri's Department of Economic Development is stepping down at the end of the year.
In a news release Tuesday from Gov. Jay Nixon, department director David Kerr cited a desire to spend more time with his family after working for 35 years in the public and private sectors. Nixon said he would move quickly to select a new director.