RI Senate pitches plan to aid economy, reform EDC

PROVIDENCE, R.I. (AP) -- Rhode Island state Senate leaders are pushing a legislative package designed to boost the economy and restructure the state's troubled Economic Development Corp.

Senate President Teresa Paiva Weed and other senators highlighted several bills Tuesday including ones to reinstitute a tax credit for historic redevelopment, streamline business regulations and help unemployed people train for new jobs.

One proposal would rechristen the EDC as the Rhode Island Commerce Corp. and create a new code of ethics and mission statement for the organization. The EDC has come under fire for approving a $75 million loan guarantee to former Red Sox pitcher Curt Schilling's now-defunct video game company, 38 Studios.

Paiva Weed, a Newport Democrat, says improving Rhode Island's economy is her top priority and believes many of the proposals will pass.