The Missouri Department of Economic Development (DED) announced today that Vest-Fiber, a supplier of fiberglass products and services primarily to the wind turbine industry headquartered in Denmark, has chosen Moberly 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.
“Having Vest-Fiber select Moberly as the site for its newest fiberglass manufacturing facility is exciting news for the state,” said David Kerr, Director of the Missouri Department of Economic Development. “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 to the Composite Industry mainly to applications as wind turbine blades. Based in Denmark, the company specializes in cutting and kitting multi-axial reinforcement fabrics in