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38 Studios May Move

Efforts are underway to convince 38 Studios to remain in Massachusetts, reports The Boston Globe, saying the developer is in discussions to move from Maynard, MA to Rhode Island in exchange for as much as $75 million USD in loan guarantees. Studio founder Curt Schilling, who ended his Major League pitching career in Boston, has been trying to convince Massachusetts to offer tax breaks to game developers, as hed be willing to move 38 Studios to another state that would offer financial incentives. They say a 38 Studios spokesperson said the company would not comment on its discussions with Rhode Island prior to the meeting.

7. Re: 38 Studios May Move Jul 13, 2010, 18:10 DG
Cutter wrote on Jul 13, 2010, 14:35:
Uh, 75 mil isn't exactly chump change. That'd essentially allows them to make the games they're working on right now for free.
$75 million USD in loan guarantees. It's still a significant subsidy, but far from free money.

On a more general note, subsidies are a zero-sum game. They should only ever be used as a correction for a failure in the free market. We don't have that here. We have a clear net societal loss to balance the gain for the publisher executives. $75m funding guaranteed on the one hand, $75m of risk taken on by the other. X jobs created in Rhode Island, X jobs lost in Mass.
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