State takes back $15 million investment in Braidy Industries

Photo Credit: Governor Andy Beshear Facebook Page

On Thursday, Kentucky Gov. Andy Beshear announced the state has recouped its $15 million investment in a company that was set to build an aluminum mill in northeastern Kentucky.

The $15 million was appropriated through legislation passed in 2017 in connection with a planned investment by Braidy Industries to construct an aluminum mill in Boyd and Greenup counties. The project did not come to fruition.

The Governor also said that the land, which was previously acquired as part of the proposed project, would be donated back to the local communities to be used for future economic development opportunities as part of a larger land transaction being negotiated.

“Given the current economic momentum we are experiencing across the state, I am confident we will secure a significant project on the property, as it is a great site for a potential employer,” Governor Beshear said in a press conference, adding the announcement was “a long time coming.”

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Jacqueline Pitts
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