Chafee works to stabilize EDC - News, Weather and Classifieds for Southern New England

Chafee works to stabilize EDC

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PROVIDENCE -

The board of the Economic Development Corp. met Monday, which isn't necessarily a certain thing recently given the number of board members who have left.

The 13-member EDC board is already down four members, and two more recently announced they are leaving.

Both said they need to focus more attention on their own businesses, but they are staying on a bit longer and were here.

There were seven members in attendance Monday; the agency claims only 5 members are needed right now for a quorum to meet.

EDC has a rocky past, not helped by the failed 38 Studios deal last year.

The governor, who heads the EDC board, said it's hard to keep board members who may ask, "What am I getting myself into?"

"I inherited a very difficult organization, but we're making progress and just because we don't have a full board doesn't mean good work isn't being done here. Obviously, unemployment got below double digits. We're down and that trend is continuing. Revenues are up in the state. The economy is improving. We're doing good work here stabilizing what is a very, very important arm of government," Chafee told NBC 10 News.

The governor submitted names of nominees to the board to the state Senate last year.

Chafee said it is trying to move forward with filling positions, but he also said it can actually be beneficial to having a smaller group to get things done.

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