38 Studios also has a strict job creation schedule over the next three years. The developer must have 125 full-time jobs within a year of signing for the loan, another 175 the following year and 150 more the year after. That may just be numbers to many of you out there, but industry human resource representatives and studio directors just spit coffee all over their monitors. The studio will be penalized $7,500 per year for each of the 450 jobs it doesn't create. Obviously, if you do the math, it's cheaper not to hire for the full-time job and take the penalty.
38 Studios must also announce the location of its new studio operations and corporate headquarters by November 30, 2010 -- note: the company just has to say where it's going, not actually get there. Also, the closing of the loan requires a "signed, enforceable" 10-year lease for 38 to stay in Rhode Island. Looks like R.I. wants to make sure that it's not paying to raise a studio -- which, to date, hasn't released a single project -- and watch it leave for California or Canada after it gets all that cash.