12 companies eyeing 38 Studios-type loan guarantees from EDC

PROVIDENCE – A dozen companies – half of them out-of-state businesses looking to relocate to the Ocean State – are lining up to take advantage of the same controversial loan-guarantee program that drew Curt Schilling's video game company, 38 Studios LLC, to Providence. Keith W. Stokes, executive director of the R.I. Economic Development Corporation, told…

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  1. If Chafee thinks that companies will come to Rhode Island on their own steam without incentives, he needs to look at the draw….educated employees? no lower taxes? no etc. etc. It’s a GOOD thing that Rhode Island is on the map as a potential location for new and emerging companies. And while I’m on my soapbox, there is much to be said about “emerging knowledge-driven companies” and their fast-paced growth. Most of them are guided by the best advisors with proven track records in the venture community. This is a NEW economy, and there is a brilliant, new thinking generation who have a better chance at navigating it with these advisors. Let’s get on board with this century, Rhode Island….fast forward to 2023….and think about choosing companies who will be successful then, not ones who got their start in 1923.

  2. Sorry, Susan. It’s not going to happen as quickly as you or I would like. This state is way too infected with a low quality workforce. We need to keep the current white trash flight out of this state going strong. Only when we have purged the majority of locals out of the workforce will we see the kind of growth in new business you desire. Lucky for us, RI has the assets to replace them all. By the way, ALL states use incentives to attract business. This is not just a RI thing.

  3. As a business owner, Susan, YES that is my well thought out and hard learned response. It’s not just me. Ask any other business owner how hard it is to find quality help from the local population. You want high tech knowledge-based companies to come here? Good luck. Heck, I can’t even hire a local to be a competent secretary. The biggest problem with RI is not taxes, unions, the governor or the General Assembly. It’s the low education attainment of the local population and their ability to think that being a “clever” laborer (as I was told a while back by some low-quality local who made fun of me for having a college degree) is all you need for a state to succeed. RI has been doing that since the Great Depression in the 1930’s. How’s that plan working out?