Yesterday, the Rhode Island Public Expenditure Council (RIPEC), a venerable Rhode Island policy “voice and catalyst” founded in 1932, released a report analyzing the structure of the state’s quasi-public Economic Development Corporation (EDC) and suggesting a reorganization.  Governor Lincoln Chafee requested the report in May, following the scandalous collapse of 38 Studios, which had been the major basket in which the EDC had placed $75 million in bond-sale eggs.
Fortunately, Chafee Spokeswoman Christine Hunsinger confirms, for the Ocean State Current, that the state did not pay for the report.  That’s fortunate because — despite its 62 pages of text and 73 pages of organizational charts, definitions, and other appendices — the document does little to justify any particular new economic development structure and nothing to answer the more fundamental questions about the state’s worst-in-the-nation employment situation.
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