Northeast Business Center Negotiates Land Sale to Northland Electric for $55K

The New London City Council has taken a significant step towards economic development by approving an offer from Northland Electric to purchase a parcel of land in the Northeast Business Center. During the special meeting held on July 24, 2025, the council discussed the details of the sale, which is set at $55,000 for approximately 5.5 acres, translating to $10,000 per acre.

The agreement includes a right of first refusal for an adjacent parcel, allowing Northland Electric the opportunity to match any future offers for that land over the next five years. This provision is designed to give the company flexibility for potential expansion, should their needs grow in the coming years. Northland Electric has committed to investing at least $750,000 into the property, signaling their intent to develop the site and contribute to local economic growth.

City officials emphasized that this transaction is part of ongoing efforts to enhance the industrial park's appeal and functionality. The council's discussions also touched on the importance of ensuring that the land is suitable for development, particularly regarding soil quality, which has been a concern in the past.

The council's approval of this land sale is expected to foster job creation and attract further investment in the area, aligning with New London's broader economic development goals. As Northland Electric moves forward with their plans, the city anticipates positive outcomes for both the company and the local community.