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Kentucky recovers $15 million investment in failed project

Kentucky recovers $15 million investment in failed project
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By The Associated Press
Sep. 29, 2022 | FRANKFORT
By The Associated Press Sep. 29, 2022 | 03:03 PM | FRANKFORT
Kentucky has recovered a $15 million state investment in a failed aluminum mill project.

The site sat undeveloped for five years. Gov. Andy Beshear says the state is also in the process of having the northeastern Kentucky site returned in the form of a donation.

An aluminum company was seeking to build a massive mill, but it never materialized. Beshear says the site is valuable and will likely host another economic project.

The project was announced by former Kentucky Gov. Matt Bevin amid great fanfare in 2017. The former company, Braidy Industries, had pledged to create 550 full-time mill jobs.
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