38 Studios is Moving to Rhode Island

by Darius Kazemi on July 27, 2010

in Boston game news

The Boston Globe reports that 38 Studios is moving to Providence:

Former Red Sox pitcher Curt Schilling is moving his videogame company 38 Studios, based in Maynard, from Massachusetts to Rhode Island. The deal will bring Schilling’s company a $75 million loan guarantee backed by that state.

“I’ve invested a significant amount of my life’s earnings in 38 Studios,” said Schilling, “and I will protect the loan guarantee that’s been given by the state with the same passion and interest that I’m protecting my own investment in this company.”

Rhode Island’s Economic Development Corporation today approved a $75 million loan guarantee to Schilling’s company.

The EDC board approved the offer after concluding that the company offered growth opportunity and could help drive the state’s economy.

The offer represents 60 percent of the maximum $125 million loan guarantee allowed under state law.

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