Rhode Island Assembly continues EDC review

Associated Press

PROVIDENCE, R.I. (AP) — A committee of the Rhode Island General Assembly is holding its second meeting to review the state's economic development programs following the state's bad investment in Curt Schilling's failed video game company.

The Joint Committee on Economic Development is scheduled to meet Monday afternoon.

The committee expects to review a report entitled "Rebooting the Economic Development System in Rhode Island."

The panel is looking at ways to reform the state's Economic Development Corporation. The EDC gave Schilling's 38 Studios a $75 million loan guarantee. The former Red Sox pitcher's company laid off all its employees and is now seeking bankruptcy protection.

The panel has already received a presentation on ways to improve the EDC from the Rhode Island Public Expenditure Council.