Chafee nominates EDC chief

Gov. Lincoln Chafee on Monday nominated a new executive director for the state Economic Development Corp.

Marcel Valois previously served as EDC chief from 1995 to 1997 under Gov. Lincoln Almond.

Valois is currently vice president at the Economic Development Foundation of Rhode Island.

"Marcel Valois is a proven a business leader. He understands economic development, he understands Rhode Island, and he shares my commitment to taking advantage of Rhode Island's assets to strengthen our economy," Chafee said.

During his previous tenure at the EDC, Valois was credited with spearheading a master plan for the Quonset/Davisville Port and Commerce Park, leading the state's negotiating team for development of the Providence Place mall, and recruiting Fidelity Investments to Rhode Island.

Valois's past experience includes being an area vice president at Penske Automotive Group, chief operating officer at Inskip Autocenter, and executive vice president at Blackstone Valley Development Foundation.

Valois would succeed Keith Stokes, who resigned from the EDC in the aftermath of the collapse of former Red Sox pitcher Curt Schilling's video game company. The EDC approved a $75 million loan guarantee to 38 Studios.

Valois's nomination requires Senate approval.