Rhode Island Considering Regulation Changes After 38 Studios Collapse

Yikes. Though this story seemed to get worse and worse, finally, there seems to be a ray of hope. Or well, some change–perhaps forward movement. Thankfully! After the spectacular collapse of 38 Studios, you'd hope this story had hit a low.

Develop Online reports that Rhode Island's governer, Lincoln Chafee, is considering changing Rhode Island's economic development. Rightly so, I think. Remember, the state had loaned a whopping $75 million to the studio, not chump change at all–especially when you consider that the state has a high umemployment percentage.

Naturally the state finds itself in crisis at the moment. The governor went on to declare, "I will continue to digest the report over the coming weeks as my administration works to put in place the best structure for sustained and long-term business growth." The 'report' refers to something he comissioned with suggestions of a new state office that would oversee economic policy and development. Somehow, Rhode Island doesn't have one–maybe it needs one, huh?

Hopefully Rhode Island can recover from this with the right policies in place.