RIPR News
7:41 am
Mon July 26, 2010

Candidates raise concerns about proposed Schilling business deal

Providence, R.I. – Rhode Island's five main gubernatorial candidates say they have concerns about a proposal from the state Economic Development Corporation to offer a $75 million loan
guarantee to a game development company founded by former Boston Red Sox pitcher Curt Schilling.

The EDC is meeting Monday to discuss and likely vote on terms and conditions of a deal to bring 38 Studios from its current location in Maynard, Mass., to Rhode Island.

The state is dangling a $75 million loan guarantee as an inducement to the company. The company says it could bring more than 400 well-paying jobs by the end of 2012.

The gubernatorial candidates say they're concerned by the size of the loan guarantee and that taxpayers could be on the hook if the company fails.