Bringing jobs and revenue to New London
I approve of the Harbor Development Agreement with the Connecticut Port Authority for the State Pier in New London. Governor Lamont announced Eversource and Ørsted North America ratified a deal with the Connecticut Port Authority's oversight board. Legislators learned of the agreement Saturday. Early details show the development will positively impact New London and the state’s economy.
Although we are still learning specifics, there is no doubt that a development of this nature will bring a significant amount of jobs and revenue into New London. This is the type of public-private partnership that can develop Connecticut's infrastructure and stimulate its economy.
Transformation of the pier will be funded by a public-private investment of $157 million, with upgrades to rail links and freight capabilities. Completion is expected by August 2022, creating an estimated 400 jobs. The wind energy hub will be environmentally positive as Connecticut strives to produce carbon-free energy.
I attended discussions and was active in the effort to bring the development to fruition. As a quasi-public entity, the port authority has similar functions to a private entity but must be held accountable to the government's oversight and disclosure rules. Checks and balances emphasizing transparency are critical.
We must be vigilant with quasi-public entities on a project of this magnitude. State residents and, more importantly, New London deserve absolute transparency and legislative oversight.
Rep. Kathleen McCarty
38th district of Waterford and Montville
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