Rhode Island Guarantees 75 Million Dollar Loan To Curt Schilling’s Video Game Company To Get Him To Relocate
Boston - Former Red Sox pitcher Curt Schilling is moving his videogame company 38 Studios, based in Maynard, from Massachusetts to Rhode Island. The deal will bring Schilling’s company a $75 million loan guarantee backed by that state. “I’ve invested a significant amount of my life’s earnings in 38 Studios,” said Schilling, “and I will protect the loan guarantee that’s been given by the state with the same passion and interest that I’m protecting my own investment in this company.” Rhode Island’s Economic Development Corporation today approved a $75 million loan guarantee to Schilling’s company. The EDC board approved the offer after concluding that the company offered growth opportunity and could help drive the state’s economy. The offer represents 60 percent of the maximum $125 million loan guarantee allowed under state law. The company said it could bring 450 direct jobs to the state by the end of 2012 and would pay a penalty if it falls short. But some are concerned by the size of the loan guarantee and that the company doesn’t have a proven track record.
Rhode Island is guaranteeing a 75 million dollar loan to Curt Schilling’s video game company? What does that even mean? Like if Curt goes bankrupt RI will have to pay back the loan? Is that shit normal? Does RI even have 75 million dollars? And if so is this really how they want to spend it all? Like I’ll gladly relocate to the Ocean State if they’ll back a 20 million dollar loan never mind 75 million. It’s kind of a no brainer if you ask me. I mean I’m pretty sure smut is way more recession proof than dorky video games. So let’s talk Rhode Island. Help me help you.