Curt Schilling will in fact be moving 38 Studios to Rhode Island from Massachusetts. This comes after the Rhode Island Economic Development Corp. approved eight to one to grant the $75 million guarantee to the company.

I’ve invested a significant amount of my life’s earnings in 38 Studios, said Schilling, and I will protect the loan guarantee that’s been given by the state with the same passion and interest that I’m protecting my own investment in this company. Our paths are very much aligned.

This agreement is expected to bring 450 jobs to Rhode Island by 2012. 38 Studios’ first release, Kingdoms of Amalur: Reckoning, is scheduled for 2011, while work on their MMO is ongoing.