Gamesindustry.biz reports that the studio has received the first $13 million loan from Rhode Island, which is being provided in the hopes that 38 Studios will create upward of 450 jobs for the state. The studio will have to hit "employment milestones" to receive further payments. 38 Studios is deep into production of the single-player RPG Kingdoms of Amalur: Reckoning as well as a follow-up MMO based in the same world.
The Economic Development Corporation has already closed on the deal, and according to Providence Business News the governor-elect is "very disappointed" at being cut out of the process. Chafee vows to keep a close eye on 38 Studios, even so: "I will, however, ensure that 38 Studios fully and completely comply with each and every commitment that it has made to the taxpayers of Rhode Island... We wish 38 Studios the greatest success, while vigilantly protecting taxpayer interests."