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EDC is ‘not broken,’ says Chafee
Gov. Lincoln D. Chafee will keep the state’s formerly beleaguered economic development apparatus intact for the rest of the year and in his proposed budget for the next fiscal year, he said Thursday. more
Moody’s affirms 38 Studios bond rating on R.I.’s moral obligation
Moody’s Investors Service – a globally recognized rating company – affirmed the ‘A2’ rating on 38 Studios’s bonds since the bonds’ “stable” outlook is based on the state’s moral obligation pledge, which high-ranking Rhode Island officials say they intend to honor. more
EDC hires firm to investigate parties in 38 Studios deal
The R.I. Economic Development Corporation has hired Providence law firm Wistow & Barylick to pursue legal action against “third parties” connected with the 38 Studios LLC loan guarantee, Gov. Lincoln D. Chafee announced Tuesday. more
Providence firefighters settle pension lawsuits
The Providence firefighters union has settled its two outstanding Medicare and pension lawsuits with the city, the union announced Thursday. more
| 11/8/12
38 Studios employees attend job fair
Several 38 Studios employees attended a Providence recruiting event by video game-creator Turbine Inc., according to WPRI-TV CBS 12. more
| 5/23/12
R.I.’s bond sale successful, demand ‘exceeded expectations’
Rhode Island’s General Obligation Bond sale this week was a success and demand exceeded expectations, according to Gov. Lincoln D. Chafee and General Treasurer Gina M. Raimondo. more
| 10/11/12
EDC grants $1M loan guarantee to eNow Inc.
The R.I. Economic Development Corporation has guaranteed a $1 million loan to eNow Inc., an expanding Providence company that makes solar power systems for trucks. more
Suit over 38 Studios deal risks collateral damage
Rhode Island’s $75 million loan guarantee to 38 Studios LLC was already synonymous with bad judgment. The state’s lawsuit against the deal’s participants now attempts to link it with fraud and incompetence. more

By Patrick Anderson
PBN Staff Writer | 11/12/12

Missed opportunity on credits
Cornish Associates President and CEO Arnold “Buff” Chase said his company has five historic Providence buildings lined up to buy and restore once Rhode Island brings back its historic tax credit program. more
Three more EDC board members to step down
(Updated, Feb. 28, 11:45 a.m.) Three more members of the R.I. Economic Development Corporation Board of Directors have announced their intention to step down, bringing to eight the number who have left or asked off the board since last spring. more
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