The ghost of 38 Studios' unpaid loans and bankruptcy still haunt the state of Rhode Island, according to comments made by current Governor Lincoln Chafee (I). The governor said that the 38 Studios failure "remains an economic development crisis" for the state.
"38 Studios was and remains an economic development crisis for the state of Rhode Island," Chafee said in a statement to the media. "I will continue to digest the report over the coming weeks as my administration works to put in place the best structure for sustained and long-term business growth."
In the aftermath of the deal put together by the EDC, Governor Chafee says that he is considering a plan to restructure the system, which currently falls under the auspices of the Rhode Island Economic Development Corporation. Under his plan Rhode Island would create a brand new agency "to oversee broader economic policy and development."