New factory coming to Moberly brings promise of 50 jobs

Moberly Area Economic Development Corporation and the City of Moberly have teamed up once again to bring a whirlwind project to fruition with the promise of 50 new local jobs.

The multinational Danish company Vest-Fiber Aps and its affiliate Vest-Fiber, Inc, producers

of carbon fiber products and services for the wind turbine industry, plan to base

U.S. manufacturing efforts in Moberly. The project will be moving into an existing facility

in Moberly with a capital investment of $2 million and will create 50 new full-time local

jobs.

“This is an exciting project that will have a positive impact on the economy in northcentral

Missouri,” said Moberly Mayor Bob Riley.

David Gaines, MAEDC Vice-President went on to add, “Our first contact with the

company came in August of this year. Since then a tremendous amount of work has taken

place in a short period of time thanks to excellent cooperation from our partners including

the City, County, State, NEMO WIB (Northeast Missouri Workforce Investment Board), MACC, Moberly Public Schools, taxing jurisdictions and private businesses along with Vest-Fiber to make today’s announcement possible.”

“The past several months have been very exciting,” said Corey Mehaffy, President of

Moberly Area Economic Development Corporation. “The Vest-Fiber project is another

first in Missouri that is locating in Moberly. The Vest-Fiber project is the first foreign

wind component investment in the State of Missouri and we are excited that the company

chose to make the investment in the MAEDC region.”

The state of Missouri’s incentive package consisted of $128,318 in Missouri quality Jobs program incentives, which provides tax credits to companies that crate a predetermined number of jobs, among other qualifications, as well as recruitment and referral assistance.

Founded in 2000, Vest-Fiber produces fiberglass and materials to the Composite Industry

mainly to applications as with turbine blades, Based in Denmark, 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. The

company operates state-of-the-art cutting units that process more than 7,000 tons of fabrics

and convert more than 600,000 square meters of core material on a yearly basis.

“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.”