R.I. Economic Development Corp. - Providence Business News

Legislation on ‘no-poaching’ between states raises questions about enforcement

Economy 04/08/2022

Two Rhode Island lawmakers are calling for a truce in the economic border war waged with tax incentives with neighboring states, but some authorities...

Saul Kaplan

Entrepreneurship 11/26/2021

You can’t discuss business innovation in Rhode Island over the last two decades without mentioning Saul Kaplan. Since his days in the early 2000s at...

A JUDGE HAS cleared Peter M. Cannava, Wells Fargo lead banker on the $75 million in bonds for the video game company 38 Studios, of all charges related to an SEC complaint arguing that the R.I. Economic Development Corp. (predecessor to the R.I. Commerce Corp.), EDC officials, Wells Fargo and Cannava defrauded investors in the issuance of the bonds. Cannava was the only defendant not to settle with the SEC.

Judge rules in favor of Wells Fargo banker in 38 Studios...

38 Studios 06/12/2019

PROVIDENCE – Peter M. Cannava, the lead banker on the bonds for 38 Studios at Wells Fargo, has had claims alleging that he aided...

RISBDC, R.I. Foundation launch non-tech-related Growth Hub

Education 07/31/2018

SOUTH KINGSTOWN – A new funding outlet for non-technology-related small businesses is now available to Rhode Island companies looking to grow, thanks to a...

ALLAN TEAR, co-founder and managing partner of Betaspring. An audit by the U.S. Treasury Department found that Betaspring misused $803,644 to fund operations from the Treasury's State Small Business Credit Initiative. / PBN FILE PHOTO/Michael Salerno

Federal audit finds Betaspring intentionally misused $804K

Entrepreneurship 09/22/2017

PROVIDENCE – A federal audit released this week claims business-accelerator and consultant Betaspring LLC intentionally misused $803,644 to fund operations in 2012. A manager of...

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