Candidates Balk at $75 Million for Curt Schilling
Wednesday, July 28, 2010
Several candidates for governor yesterday balked at a $75 million loan guarantee the Economic Development Corporation has given to former Red Sox pitcher Curt Schilling so he will move his video gaming company, 38 Studios, from Massachusetts to Rhode Island.
Some of the stronger criticism came from independent candidate for governor Lincoln Chafee, who said the deal was a risk for Rhode Island taxpayers.
“For the State of Rhode Island to guarantee an unsecured loan of 75 million dollars to a single individual who does not have an established record in business and who is planning to compete in a high risk industry is an unacceptable gamble to ask the taxpayers of Rhode Island to take,” said campaign manager J.R. Pagliarini.
At the same time, Chafee also apologized for suggesting during a radio interview on 630 WPRO that Schilling might have faked the famous bloody sock he was sporting in the 2004 playoffs—saying his comments had distracted the media from the main issue.
“Senator Chafee regrets that what he intended as an off hand reference to published reports about the bloody sock has deflected attention from the crux of this issue,” Pagliarini said. “Senator Chafee respects Curt Schilling’s achievements as a professional athlete and his support of charitable causes. At the end of the day, however, his first concern is to protect the interest of Rhode Island taxpayers, on whose shoulders the burden of a 75 million dollar loan default would ultimately fall.”
Moderate Party candidate Ken Block also came out in opposition to the deal.
“The 38 Studios decision is a mistake,” Block said. “This is typical recycled politician thinking focused on short term planning, and it doesn't work. You can’t fix the economy with silver-bullet solutions. $75 million could go a long way to help many small businesses here in Rhode Island, and we can't afford to set aside such a large sum of money for specific inducements to special companies. Instead of putting our eggs all in one basket, our priorities should be on real, long term solutions.”
Republicans Have Mixed Feelings on Deal
The two Republican candidates for governor were more muted in their criticism, while Democrat Frank Caprio declined to comment.
Republican John Robitaille said he had “reservations” about the project and would have preferring using the $75 million to make smaller loan guarantees to Rhode Island businesses.
“However, now that the EDC has voted to support the project, I hope that Studio 38 becomes extremely successful. I wish Curt Schilling the best of luck,” Robitaille said. “We need to get Rhode Islanders back to work, and cannot let politics get in the way.”
Fellow Republican candidate Victor Moffitt told GoLocalProv he was staying neutral on the issue until he could get more information—and he said he preferred to support the EDC on its decision, since most board members approved the project.
“I am concerned about the large amount 75 million loan guarantee to one company and the potential risks involved in the gaming industry business,” Moffitt added. “Either we support the EDC or disband it. If this project is successful it could bring hundreds of new high tech gaming industry jobs to Rhode Island and give our graduates a job here in the Ocean State.”
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- Breaking News: Block Opposes Schilling Deal
- Playing Hardball: Mass. Tries to Keep Schilling Company
Comments:
Do your homework!!!! Curt Schillings company is going to compete with all the big dogs like the creators of World of War Craft, which at the end of 2009 showed 896 million dollars in profits and over 11 million subscribers world wide. That would really be bad for Rhode Island huh???? With Hasbro being one of the worlds largest toy companies in the world right here in Pawtucket, RI mixed in with the success Schillings company will have here your talking about Rhode Island becoming the gaming capital of the world perhaps??? Plus all the jobs this company will create for Rhode Islanders and college grads….Those who feel Schilling is just a face for PR purposes of this company is crazy these games are his life!!!! He is world famous for his game play on Everquest, WOW and many others so this is not a PR stunt by some business type. Schilling knows 2 things pitching and gaming! We all already know how the pitching turned out!!!! Imagine what the gaming company will do???? Good for you EDC very very smart investment loan!!!!!
Comment #1 by John Smith on 2010 07 28