RIPR News
3:02 pm
Mon July 26, 2010

RI agency meets on plan to lure Schilling company

Providence, R.I. – Rhode Island's Economic Development Corporation is meeting to discuss offering a $75 million loan guarantee to a gaming company founded by former Boston Red Sox pitcher Curt Schilling.

The potential offer is aimed at encouraging the company, 38 Studios, to relocate from Massachusetts to Rhode Island.

The EDC is scheduled to discuss and likely vote Monday evening on the terms and conditions of the agreement, which have so far remained confidential.

The company says it could bring more than 400 well-paying jobs to the state by the end of 2012. But some are concerned by the size of the loan guarantee and by the fact that the company doesn't have a proven track record.