RI working to keep Schilling's company afloat
Tuesday, May 15, 2012
PROVIDENCE, R.I. (AP) -- Leaders in Rhode Island are working to help former Red Sox pitcher Curt Schilling's video game company remain viable after it failed to make a scheduled $1.1 million payment to the state's economic development agency.
Gov. Lincoln Chafee (CHAY'-fee) says the state must do "everything possible" to assist the Providence-based company and prevent the state from having to pay its debts.
38 Studios was lured from Massachusetts in 2010 after Rhode Island offered a $75 million loan guarantee that state officials said would help bring jobs and tax revenue.
The deal required the company to make a payment to the Economic Development Corp. on May 1. The state agency plans to address 38 Studios' financing at a meeting Wednesday.
A company representative did not return messages seeking comment Tuesday.