Rhode Island Economic Development Corporation

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.

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:

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.

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.

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.

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.

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.


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.

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.

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:

Governor Lincoln Chafee used a video message today (above) to announce litigation by the state over the failure of 38 Studios. The defendants named in the state’s action include Curt Schilling and former EDC director Keith Stokes. 

Here’s the transcription of Chafee’s comments, as provided by the Economic Development Corporation:

John Simmons (left), executive director of the Rhode Island Public Expenditure Council (RIPEC), formally presented this morning a 136-page report on remaking Rhode Island’s approach to economic development.