Massachusetts did not want to negotiate to keep 38 Studios in state, says Schilling
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BLOOMBERG NEWS PHOTO
CURT SCHILLING unveils the first video game produced by his company, 38 Studios LLC, at Comic-Con last week in San Diego.
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FITCHBURG, Mass. – Curt Schilling may be coming to Rhode Island, but according to the Sentinel and Enterprise of Fitchburg, Mass., the Ocean State was not his first choice.
In a story published Thursday, the newspaper quotes Schilling saying that “we made every effort” to keep 38 Studios LLC in Massachusetts, but “it was made very clear to us that it wasn’t going to happen.”
The R.I. Economic Development Corporation approved on Monday a package that includes a $75 million loan guarantee for Schilling’s video game company that requires him to move the company to Rhode Island, in the process creating 458 jobs here. It also calls for fees that could add up to in excess of $20 million over the term of the 10-year notes being floated by the EDC to be purchased by private investors, as well as specific, staggered operational targets that must be met in order for the company to receive the money from the loans.
The Sentinel and Enterprise also quoted Massachusetts state officials admitting that Schilling came to them but the state was unwilling to get into a bidding war for his business, while admitting that the Bay State did not have a program that could match the Rhode Island offer. Schilling also reiterated his denial of trying to start a bidding war between the two states.