Although a selection committee has been mum on the identity of its choice for the new director of the state’s Economic Development Corporation, Governor Carcieri and the group’s chairman confirmed the name of one of two finalists: Ioanna T. Morfessis, of Arizona.

Morfessis is president of an economic development consulting firm in Phoenix, according to her company Web site. Prior to starting her own firm, she was the founding president and chief executive officer of the Economic Alliance of Greater Baltimore and before that, the founding president and CEO of the Greater Phoenix Economic Council. She has also been chairwoman of the International Economic Development Council.

“She’s one of the two,” Carcieri confirmed when asked about Morfessis’ selection. “I interviewed both of them. We haven’t finalized it because there are a lot of issues around contracts. She’s very good, but there are still two.”

He would not name the other finalist.

Reached by telephone, Morfessis referred requests for comments to Alfred J. Verrecchia, head of the selection team and chairman of Pawtucket-based Hasbro Inc.

Verrecchia, who earlier in the week signaled that the group had already settled on a final pick, said Friday that there were still steps to be taken.

“We have not offered her the job yet,” he said of Morfessis. “She is definitely a finalist, but we haven’t done that and a lot of things that still have to come together in order for this to all work. We have to negotiate a compensation agreement and get that agreement in place.”

“Hopefully, all those things will come together,” Verrecchia added. “But until that person shows up for work on Monday, we never know.”

The negotiations hinge, in part, on the passage of a bill before the General Assembly that would authorize the state to offer the director a three-year contract, as a guarantee that the job won’t disappear when Carcieri finishes his term in early 2011.

On her Web site, Morfessis cites her work in transforming the Phoenix region’s economy and in helping generate more than $5.2 billion of private economic activity in the Baltimore area. She received a bachelor’s degree from the American University, a master’s from George Washington University and a doctorate in economics and economic development from Arizona State University.

cneedham@projo.com