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38 Studios Closes RI Funding Deal Amidst Criticism

Updated Thu, Feb 02, 2012 by Martuk

Despite political backlash and grumblings, Curt Schilling has managed to push through the Rhode Island deal and secure a $75 million financing package for 38 Studios in conjunction with the Rhode Island Economic Development Corporation. The developer announced the relocation of its studio to Rhode Island in September as part of the deal.

Amalur

38 Studios secures funding and pushes foward.

According to a report from gamesindustry.biz, 38 Studios recently received the first part of the package totaling about $13 million. But governor-elect Lincoln Chafee issued a statement Wednesday expressing his discontent with the EDC for not delaying the closing of the deal and vowing that he will monitor the EDC to ensure that 38 Studios meets each of its commitments. Chafee is referring to parts of the deal in which 38 Studios must create new jobs for Rhode Island and meet certain milestones to obtain the rest of its funding.

38 Studios currently has two projects in development with the MMORPG codenamed Project Copernicus and the RPG Kingdoms of Amalur: Reckoning under development by Big Huge Games.

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