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Tue May 21, 2013
Valois Faces Approval of Full State Senate
Governor Lincoln Chafee’s choice to lead the state Economic Development Corporation faces approval by the full state Senate committee Tuesday. The votes comes amid debate over the EDC’s future.
Chafee’s choice, Marcel Valois, was unanimously approved by a Senate committee last week. Valois led the EDC in the 1990s during Lincoln Almond’s tenure as governor. He says Rhode Island needs to do a better job of helping business when it can and getting out of the way when it can’t.
Valois is currently the vice president of an economic foundation. He was previously chief operating officer of the Penske Automotive Group.
The EDC has been marked for years by turnover in its leadership. The agency lost its last leader after failed video game maker 38 Studios defaulted on a guaranteed loan … leaving Rhode Island taxpayers on the hook for about 100 million dollars.