Rhode Island Economic Development Corporation

RI News
2:20 pm
Wed August 28, 2013

RI Judge Allows Bulk of 38 Studios Lawsuit to Move Ahead

This desk trophy commemorating the 38 Studios $75 million loan was auctioned off after the company went bankrupt.
Credit file / RIPR

Rhode Island’s lawsuit over failed video game company 38 Studios will move forward. Superior Court judge Michael Silverstein dismissed some of the counts, but allows key parts of the state’s lawsuit to move ahead.

(Read the judge's 98-page decision here.)

When video game maker 38 Studios went belly up after receiving a $75 million state loan guaranty, it left taxpayers in the lurch for roughly $100 million.

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Arts & Culture
8:20 am
Tue August 13, 2013

Made In Rhode Island: Jewelry Making, An Industry On The Move

Patrick McMillan of Providence makes custom jewelry in his basement workshop.
Credit Flo Jonic / RIPR

There's a commonly held misconception in Rhode Island that the jewelry industry is washed up, kaput, a victim of the ravaged manufacturing sector. But according to the Rhode Island Economic Development Corporation, we have the highest concentration of jobs in the jewelry industry in the United States. This morning as we continue our 'Made in Rhode Island' series, Rhode Island Public Radio's Flo Jonic delves into the jewelry industry through the eyes of three of its players:

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The Bottom Line
6:00 pm
Fri June 7, 2013

The Bottom Line: RI's Economic Development Plans Still Uncertain

Providence Business News Editor Mark Murphy joins Rhode Island Public Radio's Dave Fallon for a weekly business segment we're calling "The Bottom Line." Each Friday they look at business news and themes that affect local business and the public.

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Political Roundtable
4:00 am
Fri June 7, 2013

Political Roundtable: Walsh on Gist, 38 Studios, Economic Development + more

Credit Ian Donnis / RIPR

Robert A. Walsh Jr., executive director of the National Education Association Rhode Island, joins the Roundtable this week to discuss state Education Commissioner Deborah Gist; conflicting views on economic development; the debate over defaulting on bonds for 38 Studios; and Council 94's hiring of a prominent critic of state Treasurer Gina Raimondo.

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RI News
3:15 pm
Mon April 8, 2013

Marcel Valois Nominated as Executive Director of RI EDC

Marcel Valois has been nominated for Executive Director of the Rhode Island Economic Develop Corporation, which has been under a cloud since the 38 Studios bankruptcy.

It is the same position Valois held in the 1990’s under then Governor Lincoln Almond.

Valois most recently served as the Vice President of the Foundation of Rhode Island, a private non-profit organization.

The announcement came today from Governor Lincoln Chafee after his initial choice for the position, William Parsons, withdrew for medical reasons.

On Politics
2:56 pm
Thu March 7, 2013

Woonsocket Council Prez Ward Concerned About Possible Tax Hit for CVS

Woonsocket City Council President John Ward is concerned that jobs provided by CVS Caremark Corporation could vanish if the company loses a big chunk of a state tax credit.

"Based on their reaction, I'm a little concerned," Ward said, referring to how CVS lobbyist Robert Goldberg said the company may reconsider its ties to Rhode Island if it loses part of a job development tax credit worth about $15 million a year.

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Political Roundtable
4:00 am
Fri March 1, 2013

Political Roundtable: Saul Kaplan says RI Should Decide its Economic Focus

Kaplan.
Credit Ian Donnis / RIPR

Saul Kaplan, founder and head of the Business Innovation Factory, and a former director of the state Economic Development Corporation, joins the panel to discuss struggles at the EDC, the outlook for gun-related legislation, municipal finance woes in Woonsocket and more.

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Business
11:00 am
Fri February 1, 2013

RIEDC overestimated America's Cup haul

Credit PHOTO: RIPR FILE

The Rhode Island Economic Development Corporation estimated this summer’s America’s Cup sailing event would pump more than $70 million into the state’s economy. But the actual haul was much less.

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On Politics
12:00 pm
Wed November 21, 2012

Chafee remains undecided on approach for reshaping EDC leadership

Governor Lincoln Chafee remains open to the idea of putting one person in charge of the state’s economic development efforts, although the precise approach for doing that hasn’t been decided, his office says.

Almost two months have passed since the Rhode Island Public Expenditure Council issued its recommendations for reshaping the state’s strategy to improving the economy.

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On Politics
1:00 am
Fri November 9, 2012

Chafee announces step toward “integrated approach” on economic development

Governor Lincoln Chafee, perhaps responding to the clamor about the need for more short-term steps on boosting hte economy, has issued this news release:

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