State picks New Haven port operator to run State Pier in New London

After months of negotiations, the Connecticut Port Authority has reached an agreement with Gateway New London LLC to run State Pier in New London for at least the next 20 years. Gateway will take over operations at State Pier on May 1. At the end of the 20-year contract, the port authority has the option to extend the agreement for two additional 10-year periods. Under the agreement, the port authority will receive $500,000 annually from Gateway with $250,000 increases every five years.

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