Rhode Island treasurer seeks to block $75M loan to 38 Studios
Rhode Island gubernatorial candidate Frank Caprio, who is also the general treasurer, is working to block the state's $75 million loan to 38 Studios. The Boston Globe reports Caprio wants to stop the loan guarantee, which the studio would receive in exchange for moving from Massachusetts to Rhode Island, until a new governor is sworn in. Several other gubernatorial candidates have also expressed concern.
The multi-million dollar deal, which would leave Rhode Island taxpayers with the bill if 38 Studios was to go under, is key to the company creating a proposed 450 jobs in the state by the end of 2012. 38 Studios currently employs approximately 200 staff.
