The Missouri Department of Economic Development (DED) announced on Dec. 13 that Vest-Fiber ApS (Tarm, Denmark), a fiberglass fabric cutter and kitter for wind blade manufacdturing, has chosen Moberly, Mo., to be the location of a new manufacturing facility. The company's capital investment of $2 million will create 50 new local jobs.
"The decision by an international company like Vest-Fiber to invest $2 million and create 50 new jobs is excellent news for the economy of Moberly and Randolph County," said Governor Jay Nixon. "From day one as Governor, my administration has been focused on creating jobs and moving our economy forward, and I am pleased that we were able to provide the economic tools to help make this project possible. This significant investment by a European company is more clear evidence that Missouri's economy is on the move."
The state of Missouri's incentive package consisted of $128,318 in Missouri Quality Jobs program incentives, which provides tax credits to companies that create a predetermined number of jobs, among other qualifications, as well as recruitment and referral assistance.
Vest-Fiber produces fiberglass and materials to the composites industry. The company specializes in cutting and kitting multiaxial reinforcement fabrics in glass and carbon fiber; structural foams/core material used in sandwich constructions; nonwoven, plastic materials and vacuum bagging consumables; and ready-to-use resin infusion net-set kits.
Vest-Fiber plans to have the new facility in Moberly operational by February 2011.
