PRESTON, Conn. (AP) — The state of Connecticut is providing a $7 million loan to the Mystic Aquarium, a key tourist attraction hit hard financially after being forced to close for almost four months because of the pandemic.
Gov. Ned Lamont said Tuesday the multi-pronged arrangement with the nonprofit is part an ongoing effort to help the state’s tourism industry.
Under the deal, the aquarium raised more than $10 million from private donors and renegotiated loans, eliminating $14.5 million in long-term debt.
The state loan will ultimately be replaced with private capital. Before the pandemic, the aquarium had an annual attendance of 800,000 people.