The Missouri Department of Economic Development (DED) has announced that Denmark-based Vest-Fiber, a supplier of fiberglass products and services primarily to the wind turbine industry, has chosen Moberly, Mo., as the location of a new manufacturing facility. The company's capital investment of $2 million is expected to create 50 new local jobs.
The state of Missouri's incentive package consists 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.
‘Having Vest-Fiber select Moberly as the site for its newest fiberglass manufacturing facility is exciting news for the state,’ says David Kerr, director of the DED. ‘This project that involves bringing a company from overseas to north-central Missouri further demonstrates Missouri's commitment to being one of the top states in the nation in which to do business.’
Founded in 2000, Vest-Fiber produces fiberglass and materials for the composite industry, the majority of which are used in applications such as wind turbine blades. The company specializes in cutting and kitting multi-axial reinforcement fabrics in glass and carbon fiber; structural foams/core material used in sandwich constructions; non-woven, 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.
SOURCE: The Missouri Partnership