Roofing company cancels plans to build facility in Moberly

Thursday, GAF Roofing Shingles and Materials announced it has canceled plans to open a new asphalt shingle manufacturing facility in Moberly.

According to the company’s website, it has stopped the project because of slow market conditions and unexpected increases in project and operating costs.

“We thank Gov. Nixon and officials from the State of Missouri for their leadership in support for this project which we received from local city officials and the Moberly Area Economic Development Corporation,” GAF president and CEO Bob Tafaro said. “Unfortunately, we had to make a difficult business decision as the economics of this investment have been impacted by the sustained sluggish market conditions for asphalt shingles couples with increased project and operating costs.”

Last March, GAF promised 125 new jobs to Moberly. The company planned to build a $165 million facility on a 147-acre plot of land at the city’s industrial park.

And just last month the project appeared to be on track as city officials met with Department of Natural Resources officials to apply for permits.

“I don’t think it was anything the city did,” Moberly City Manager Andrew Morris said.”I can’t speak for the state, but I am confident that we will progress and move on and hopefully market that property.”

Morris said the GAF withdrawl will not affect the city’s budget because he did not plan to change the city’s economic activity tax.

Thursday, Moberly Area Economic Development Corporation officials said they will continue to market the lot to bring new business to the city.