More frustration for economic development officials in the town of Moberly, Missouri.   The Assocated Press reports a New Jersey-based company has called off plans to build a shingle manufacturing plant.

GAF Roofing said in a news release Thursday that sluggish market conditions and unexpected cost increases led it to cancel plans for the plant in Moberly.

The company announced in March that it planned to invest $148 million to build the plant in Moberly and would hire 125 employees.

GAF thanked Missouri Governor Jay Nixon and the people of Missouri and Moberly for their support of the project but said it was forced by economics to cancel its plans.

The town is still reeling from efforts to open a sweetener factor in Moberly, after the main organizer of that project was charged with stealing bond funds.