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House votes to abolish Job Guaranty Program, which provided for loan guarantee to 38 Studios

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By Randal Edgar

PROVIDENCE, R.I. -- The House voted 73 to 2 to abolish a Job Guaranty Program that lawmakers established in 2010, that allowed the Economic Development Corporation to guarantee up to $125 million in loans for projects tied to job creation.

The program is best known for the infamous $75-million loan to the now-defunct 38 Studios, the company that was headed by former Red Sox star Curt Schilling.


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