The Rhode Island Economic Development Corporation's handling of a $75 million loan deal to 38 Studios continues to have an effect on politics in the state, and today more reforms are being discussed so that the failure of that deal can never happen again. According to a report in the Providence Journal, the EDC's new "Marketing/Reputation Management Committee" is meeting today to discuss important goals for the organization.
Speaking to the publication today, EDC spokeswoman Melissa Czerwein said that the committee will focus on two important points in a meeting today: working with community partners on "better defining Rhode Island as a brand," and to find ways to "promote collaborative work on unified messaging around economic development branding among [other] public funded entities,'' such as the "Rhode Island Airport Corporation, the Quonset Development Corporation, and the I-195 Commission."
The subcommittee is one of five created by the EDC's Board of Directors in the aftermath of the 38 Studios bankruptcy that has left the taxpayers of Rhode Island responsible for the default on the $75 million loan. State lawmakers are also sifting through 38 Studios and EDC data to create a timeline of the events that led to the deal's failure…
Source: Providence Journal