R.I. governor makes pitch for Schilling
PROVIDENCE, R.I. - Gov. Lincoln Chafee said Rhode Island is working to help former pitcher Curt Schilling's video game company remain viable after it failed to make a scheduled $1.125 million payment to the state's economic development agency.
- Gov. Lincoln Chafee said Rhode Island is working to help former pitcher Curt Schilling's video game company remain viable after it failed to make a scheduled $1.125 million payment to the state's economic development agency.
Chafee said Tuesday that the state must do "everything possible" to assist 38 Studios and prevent the state from having to pay the company's debts.
The payment to the Economic Development Corp. was due May 1.
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 Economic Development Corp., whose board approved the agreement, will address the situation on Wednesday.
Chafee, an independent, said it's too early to say whether the state would be asked for concessions - or financial support - to help 38 Studios remain afloat.
"The most important thing, going forward, is the viability of the company," Chafee said. "We're looking at everything."
House Speaker Gordon Fox said he began hearing "inklings" about trouble at the company a few weeks ago, but still doesn't have the necessary information to gauge the company's health.
"It's technical financial stuff," said Fox, D-Providence. "You have to figure out the details before you can say anything."
A representative of 38 Studios did not immediately return a message left by the Associated Press. Schilling also could not be reached.
The company released its much-anticipated first game, "Kingdoms of Amalur: Reckoning," to strong reviews in February.
Chafee and others criticized the loan guarantee at the time it was offered, saying it was putting taxpayer money at risk to help a company with no track record of success. During his run for governor, Chafee called it "one of the biggest risks I've ever seen."
"It's irrelevant now," he told the AP on Tuesday. "Now we just make good decisions going forward."