Parsons named to lead Rhode Island EDC

PROVIDENCE, RI (WPRI) - The man who’s been in charge of the Rhode Island Economic Development Corporation’s day to day operations since the 38 Studios meltdown has been tabbed as its new Executive Director.

Sources tell Target 12, William Parsons, who was the EDC’s Managing Director of Business and Community Development, will now step into the vacancy left when Keith Stokes resigned in May.

According to the RIEDC website, Parsons has been with the organization and its predecessor since 1975.

Curt Schilling's 38 Studios gaming company received a $75 million loan guarantee from the EDC in July of 2010 but went bankrupt in May. Stokes and several board members resigned shortly after the collapse. Stokes, who supported the loan guarantee, was appointed by former Governor Don Carcieri.

EDC attorneys filed a lawsuit in November against several of the principals behind the deal, including Schilling and Stokes.

Salary and other details surrounding Parsons new job are unavailable at this time.

Send news tips to Target 12 Investigator Walt Buteau at wbuteau@wpri.com and follow Walt on Twitter: @wbuteau .