RI's big bet on Curt Schilling raises questions
PROVIDENCE, R.I. (AP) -- Rhode Island's gamble on former Red Sox pitcher Curt Schilling's video game company is prompting questions from lawmakers about the wisdom of giving an untested company so much help.
38 Studios moved to Rhode Island from Massachusetts in 2010 after the state offered a $75 million loan guarantee that officials said would mean new jobs and tax revenue.
Questions about the company's financial health mounted after the company was more than two weeks late on a scheduled $1.1 million payment to the state's economic development agency. The payment was made Friday.
Schilling has asked for more assistance from the state but Gov. Lincoln Chafee says he opposes additional taxpayer investments. Some lawmakers say the state's Economic Development Corp. needs more oversight.
Analysts say the video game industry is inherently risky.