RI House to vote on elimination of EDC

Rhode Island House to vote on replacing EDC with Commerce Corp.

Associated Press

PROVIDENCE, R.I. (AP) -- Lawmakers in Rhode Island are poised to vote on legislation that would eliminate the state's Economic Development Corp. and replace it with a new Commerce Corp. led by a secretary of commerce.

The House of Representatives is set to take up several bills designed to boost the state's economic development efforts

The EDC has come under fire following the collapse of former Red Sox pitcher Curt Schilling's video game company 38 Studios, which received a $75 million loan guarantee approved by the EDC board. State lawmakers say they're also looking for more effective ways to spur the state's economy.

Other bills up for a vote Tuesday include ones to create a small business loan program and create a council of economic advisors.

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