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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
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
Chafee: State eager to aid small-business growth
At a business-community outreach forum on June 5, Gov. Lincoln D. Chafee made it clear that despite the dark cloud of 38 Studios LLC’s implosion hanging over Rhode Island, the state remains ever-ready to help small-business development. more
Former 38 Studios CEO to run Ovuline business development
Jen MacLean, the former CEO of now-defunct 38 Studios LLC, has been tapped as the head of business development for Cambridge, Mass.-based startup Ovuline, reported Boston.com more
| 1/25/13
EDC leadership role in doubt after damning report
The driving force behind the privatization of the R.I. Economic Development Corporation in 1995 was a desire to separate the Ocean State’s volatile and corruption-prone politics from efforts to grow its economy. more

By Patrick Anderson
PBN Staff Writer | 10/1/12

Judge rules Providence pension settlement fair
Superior Court Associate Justice Sarah Taft-Carter has issued a ruling that Providence’s pension settlement is “fair, reasonable and adequate,” according to a statement released today by Providence Mayor Angel Taveras. more
| 3/11/13
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