Jul. 22—Kentucky Gov. Andy Beshear delivered some blistering remarks regarding Unity Aluminum, formerly Braidy Industries, during his press conference on Thursday.

Steel Dynamics announced Wednesday it is entering a joint venture agreement with Unity on a project that is too large-scale for the EastPark site that was supposed to be the location of Unity Aluminum's mill — a projected $1.3 billion plant that was to employ 550-plus.

Steel Dynamics, based in Indiana, said this $1.9 billion project — of which Steel Dynamics will own 94% — will be constructed somewhere in the southeastern portion of the United States. Kentucky isn't ruled out, but EastPark is.

While a Unity spokesperson did say Wednesday that Kentucky will recoup its $15 million investment when the joint deal closes, Beshear couldn't find any reason to bite his tongue when a TV reporter broached the subject Thursday.

First, he acknowledged the success and solid background of Steel Dynamics.

"We are very interested in working with them," said the governor. "We want their jobs to be in Kentucky, but let's talk for a minute about Braidy."

That's when the governor's gloves came off.

"Braidy's going to go down as the worst and shadiest economic development deal in Kentucky's history," Beshear said. "Former Gov. Matt Bevin invested $15 million in taxpayer money — probably unconstitutional — in a startup. They had no operations anywhere. They were led by a guy who now claims he's building a space bridge."

Beshear was referring to Craig Bouchard, the founder and former CEO of Braidy before inner turmoil led to his ousting in 2020. Bouchard is now the co-chair of the Space Railway Corp. board, which claims to have earth-shattering plans of its own.

Bouchard ultimately received a $6 million payout to walk away from Braidy, according to the Securities and Exchange Commission, about five months after the ousting.

Despite Don Foster — a man with a sturdy-as-steel resume and equally rugged approach — hopping in the driver's seat and seemingly reigniting hope in the summer of 2020, Braidy-turned-Unity couldn't get the financial backing necessary to see Bouchard's initial vision come to fruition.

Foster is no longer at the helm.

The interim president was last listed as Terry Gill, who was Economic Development Secretary under Bevin.

"Along the way we saw broken promises ... and an economic development cabinet secretary in the Bevin administration who signed away our security in the property of others who is now somehow the president of Braidy," Beshear said.

A "groundbreaking" ceremony took place in June 2018. While dirt was moved, little action occurred at EastPark.

"We saw nothing for Kentucky," Beshear said. "We were used. We were conned. They sold us false hope, and that is very, very wrong."

Beshear said his commitment is to bring "real hope."

"Either we're going to get Steel Dynamics to come here or we're going to get that property back," said the governor. "We could've located multiple opportunities on that property by now. It's an incredible piece of property, and Braidy doing nothing has kept us from ultimately developing that site."

Sen. Robin Webb, D-Grayson, said she is glad Kentucky will get $15 million back. She said Wednesday's announcement coincides with what Unity has been communicating to her, that "they were working on something."

Webb said the land at EastPark is "back in play" and she's "still hopeful that something positive will come out of this. ... (The region) has had international marketing and advertising and people know the attributes we have here.

"I want to see something come here," she added. "I've sat and clapped for other regions of the state, which is great, but it's our time."

Webb plans to reach out to Unity, but she wanted to let the "dust settle a little."

The senator was "a little taken aback by the harshness" of Beshear's words, "but I certainly understand it in a political sense."

Beshear had a message to the people of the Ashland area.

"I hope you can have real faith that we are not going to sell you false hope," he said. "... No one should have ever sold a con like this to you. My promise is we will treat you better."

Beshear said the Commonwealth has reached out to Steel Dynamics and aspires to lure the company to go through with the project in Kentucky.

Tim Gibbs, President of Ashland Alliance, touted Steel Dynamics, which does have a current presence in the Tri-State. Steel Ventures in Wurtland, Steel of West Virginia in Huntington, and Kentucky Electric Steel in Coalton are all under the Steel Dynamics umbrella.

As of press time, Unity Aluminum had not responded to an inquiry regarding the joint venture and/or Unity's present or future status in Ashland.

The Unity Aluminum website — unityal.com — contained several broken links within it on Thursday. It features just a homepage.

As of April, Unity listed Gill and 17 others on its management team. Its Board of Directors consisted of Gill, Don Foster, Dr. Christopher Schuh, Dr. Michael Porter and Barry Schneider.

(606) 326-2664 — asnyder@dailyindependent.com