(PROVIDENCE, R.I.) -- Head of the Rhode Island Economic Development Corporation (EDC), Keith Stokes, has resigned.
Stokes reportedly submitted his resignation as Executive Director of the EDC on Wednesday, with Governor Lincoln Chafee then issuing a statement on Thursday saying that he has accepted Stokes' resignation.
On Wednesday the EDC met with video company 38 Studios regarding the issue of a $75 million loan to the company, that the EDC approved. The company has since missed its first loan payment of $1 million.
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