The $46 million investment will generate 612 jobs.
Mamtek International Ltd., a Hong Kong-based company that produces the sugar substitute Sweet-O, plans to build a manufacturing plant in Moberly, Mo.
The $46 million investment will generate 612 jobs, according to the governors office.
As part of its package of strategic economic incentives, the state of Missouri awarded Mamtek $7.6 million in Missouri Quality Jobs Program tax credits and $6.8 million in Missouri BUILD program tax credits.
The state also provided $2 million in Community Development Block Grant Industrial Infrastructure Program grant funds; $800,000 in funding for job training; and $368,000 for employment recruitment and referral services.
Additional funding is being provided by $37 million in bond sales initiated, structured and committed by the city of Moberly and $8 million from private investors. Moberly also has made more than $500,000 in grants and services available to Mamtek, according to the state.
At a time when too many American companies are shuttering their plants and moving jobs overseas, we are thrilled to have a global company creating hundreds of good manufacturing jobs right here in Missouri, Gov. Jay Nixon said. These jobs will be a significant boost to Missouris economy and our manufacturing sector, and theyre another positive sign that our economy is beginning to move forward. I am pleased that my administration was able to provide a competitive package of strategic economic incentives to help bring these jobs to Missouri.
Mamtek produces sucralose, a no-calorie sweetener used in carbonated beverages, baked goods and other food products. The company is owned by Chinese and American partners.