Economy
7:02 am
Mon January 24, 2011

Chafee to EDC- focus on the basics

Providence, RI – Governor Lincoln Chafee ushered in a new philosophy for bringing jobs to the Ocean State as he chaired his first meeting of the state's Economic Development Corporation yesterday.

Chafee says like any business or sports team that's in trouble, Rhode Island needs to focus on the basics and away from bigger projects like the EDC's $75 million loan to video game developer 38 Studios.

"The football analogy would be, you block and tackle before you do the Hail Mary and the Statue of Liberty play," he says.

Those basics include encouraging development around the new train station connecting TF Green Airport to Providence and coordinating efforts to help small businesses in urban areas.

Chafee repeatedly referenced lessons learned from a report written by former EDC vice chairman Alfred Verrecchia that criticized the corporation for lacking focus.

Last week, the Governor accepted Verrecchia's offer to resign from the board. Chafee says it's natural to want new leadership as his administration takes over the EDC.

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