CONNECTICUT PORT AUTHORITY SELECTS GATEWAY AS NEW OPERATOR OF STATE PIER NEW LONDONFinal Agreement Positions State Pier for Strong Economic Future (New London, CT) – The Connecticut Port Authority (CPA) has reached an agreement with Gateway New London LLC for the long-term operation of State Pier in New London. The decision comes after a rigorous competitive selection process designed to determine the highest and best use of State Pier and to find a partner with the capability to deliver expanded economic opportunity to the state. “Gateway shares the CPA’s vision for strengthening Connecticut’s maritime economy and creating new jobs through expanded operations at State Pier,” said Scott Bates, Chairman of the CPA. Under terms of the 20-year agreement, Gateway assumes operation of State Pier on May 1, 2019, with an option at the end of the term for the CPA to extend for two additional ten-year periods. The new contract requires that an annual fixed fee of $500,000 be paid to the CPA, increasing by $250,000 every five years. The CPA will also receive a variable fee of 7% of Gateway’s gross revenues at State Pier, with a minimum annual guarantee of $500,000 that has the potential to increase every five years based on Gateway’s percentage increase in gross revenues. Finally, Gateway will pay an annual wharfage and dockage fee equal to 50% of all wharfage and dockage user fees at State Pier. All together, these terms will provide CPA with a substantial increase in revenue versus the current operations. “We look forward to working with our new partners to increase the movement of conventional cargo through our ports, while simultaneously capturing the opportunities presented by emerging markets,” Bates continued. “This is a welcome balance as we look to better leverage Connecticut’s unique maritime assets. We are confident this selection presents the best future for State Pier and the taxpayers of Connecticut.” This agreement presents an opportunity to expand the port’s role as an economic driver by increasing the overall traffic flowing through this key point of entry. Businesses and workers around the state will benefit from greater access to valuable markets. “After months of effort on behalf of the CPA staff and Board, we are pleased to partner with Gateway on the continued development and expansion of State Pier,” said Evan Matthews, Executive Director of the CPA. “The CPA and Gateway have undertaken an extensive process to maximize outcomes and potential, and we see this partnership as the next step towards fulfilling a key objective of our 2018 Maritime Strategy.” Maximizing the potential of State Pier is the top priority of the 2018 Connecticut Maritime Strategy, released by CPA earlier this year. In support of that strategy, the CPA will work closely with Gateway to invest the funds provided through the recent Purchase Power Agreement and Zero Carbon initiative to make the pier even more attractive to the offshore wind industry and other emerging opportunities in the region. “We are excited to partner with the Connecticut Port Authority to operate and expand State Pier,” said Larry Smith, founder of Gateway Terminal. “Our partnership not only positions New London as a potential offshore wind hub for the northeastern United States, but also supports the local harbor community and existing uses, which we believe will expand when we begin our operations.” Contract Highlights
Click here to download the Connecticut Maritime Strategy 2018Executive Summary
 Connecticut Port Authority to lead State Pier revitalization in New LondonGovernor Malloy Announces $15 Million Investment(New London) – Governor Dannel Malloy has announced the State Bond Commission is expected to approve $15 million for an infrastructure improvement project that will revitalize State Pier in New London to maximize the port’s potential as a regional economic engine. The commission is scheduled to meet Friday. The Connecticut Port Authority (CPA) will oversee the project, and work has already begun on preliminary planning. Scott Bates, the chairman of the CPA, praised Governor Malloy for his decision to continue his administration’s large scale investment in the Connecticut maritime economy: “Governor Malloy has worked hard to rebuild Connecticut’s infrastructure as a way to create jobs and long term economic growth. This investment in State Pier will pay dividends for years to come in this region and across Connecticut. At the Connecticut Port Authority, we are ready to tackle this new project as we continue our work strengthening the maritime economy across the state.” State Pier in New London is the only major port, from the mid-Atlantic to Maine, without the bridge obstructions or hurricane barriers that can restrict ships from entering other harbors. This is a major advantage when it comes to using State Pier to support development initiatives along the east coast of the United States. The same natural assets that made New London the Whaling City, and a major area of regional commerce in the early days of the United States, are still assets today. The governor’s announcement of further investment in State Pier follows an announcement earlier this month of a new partnership with Electric Boat that is expected to help create nearly 2,000 jobs in the region. Local Waters. Global Solutions.Connecticut is home to three deepwater ports (Bridgeport, New Haven, and New London) and a multitude of small harbors, rail lines, and interstate highways crisscrossing the state. Connecticut is uniquely located at the intersection of maritime access and distribution networks, and a thriving maritime industry in Connecticut means stronger economic growth across each of these assets. The Connecticut Port Authority is overseeing new investments in infrastructure, dredging and intermodal terminal capabilities that are expanding the foundation of Connecticut’s maritime industry and building a thriving network of efficient, customizable transportation solutions. The Small Harbor Improvement Projects Program |
Facebook PostsThe Real Story - Investing in the Connecticut maritime industry to spark economic growth and job development. FOX61 Scott Bates Develop New London fox61.com Connecticut is moving toward a offshore "wind farm" enterprise through which the state could earn millions, even tens of millions, according to Port Authority Chairman Scott Bates. The State Pier in New London is the focal point!This was taken on the New London Maritime Society Seal Watch trip, Saturday, March 9, 2019, aboard the Black Hawk out of Niantic. NLMS owns Race Rock Light and currently is working to raise the last $5,000 needed to have an architect prepare an assessment of the light and prepare a blueprint for its restoration. At New London’s State Pier, wind power gives Connecticut its next economic development opportunity. At New London’s State Pier, wind power gives Connecticut its next economic development opportunity courant.com With the Atlantic Ocean at Connecticut’s doorstep, the state is looking for new opportunities to make money from wind turbines rising beyond New London.Yesterday, Captain Kevin Reed and Rear Admiral Andrew Tiongson met with Governor Ned Lamont and the Connecticut Port Authority Board to address the USCG Maritime Strategic Outlook. The Coast Guard and state leaders discussed the maritime industry in Connecticut, including the facilitation of trade, securing waterways, modernizing aids to navigation, and leveraging our partnerships to meet the increasingly complex operating environment. USCG RDML Tiongson addressed the Connecticut Port Authority Board today to present on the U.S. Coast Guard Maritime Commerce Strategic Outlook along with pertinent maritime issues specific to CT, Long Island Sound, and the Maritime Transportation System at large. |
