RIPR News
12:20 pm
Thu July 15, 2010

R.I. trying to lure Schilling game company from Mass.

Providence, R.I. – Rhode Island is moving forward with plans to bring to the state a gaming company founded by ex-baseball pitcher Curt Schilling.

The state Economic Development Corporation is offering a $75 million loan guarantee to 38 Studios, a game company currently located in Maynard, Mass. The company says it could ultimately offer 400 jobs at an average salary of $70,000.

The EDC board met behind closed doors on Thursday to discuss terms and conditions of the agreement.

EDC executive director Keith Stokes would not discuss those terms after the meeting. He acknowledged after the meeting that the investment was risky but no more so than having a double-digit unemployment rate in the state.

He said analysts had looked into the company and decided it was worthy of a loan guarantee.