News Summary
Hasbro has announced the consideration of moving its global headquarters from Pawtucket, Rhode Island, to Boston. The decision will take at least 18 months, with ongoing discussions involving local officials. Amid local economic impacts, Rhode Island leaders are exploring incentives to retain the toy giant, as Hasbro seeks modern workspace solutions. Previous headquarters relocation discussions indicate this is a recurring consideration for the company, which has deep roots in Pawtucket.
Pawtucket, Rhode Island — Hasbro, the renowned toy and game company, has announced its consideration of relocating its global headquarters from Pawtucket to Boston. This strategic deliberation was disclosed on September 16, and includes ongoing tours of potential office spaces in Boston and regular meetings with local officials over the past six months. However, company representatives have made it clear that a final decision on the move will not be reached for at least 18 months.
Hasbro CEO Chris Cocks communicated this timeline to employees through an internal email, reinforcing the company’s commitment to supporting local initiatives in Rhode Island during this period of uncertainty.
To address the potential relocation, Rhode Island Governor Dan McKee, along with R.I. House Speaker Joe Shekarchi, held discussions with Cocks to assess Hasbro’s requirements and to explore ways to retain the company within the state. Pawtucket’s Mayor Donald Grebien has also been involved in these essential conversations, recognizing the significant impact a relocation would have on the local economy.
Reports indicate that this is not the first time Hasbro has contemplated moving its headquarters. The loss of the company to Boston would be a considerable setback for Pawtucket, which has become synonymous with Hasbro’s brand since its establishment in the city. In response to these concerns, local officials and organizations have proposed several sites within Pawtucket for a potential headquarters, including an idea from the Pawtucket Foundation to renovate the former Apex building for Hasbro’s new offices.
Additionally, there has been interest expressed from Providence, where officials are open to proposals for Hasbro’s relocation. The president of the Greater Providence Chamber of Commerce pointed out the advantages of establishing a new headquarters in the 195 District, highlighting its close proximity to local universities, which is beneficial for attracting talent.
This prospective move to Boston comes at a time when Rhode Island is facing fierce competition for businesses due to incentives offered by neighboring states. Massachusetts features an Economic Development Incentive Program that provides tax credits and property tax incentives, making it an appealing option for corporations like Hasbro. In contrast, Rhode Island has its own array of financial incentives aimed at helping businesses navigate local regulations and concerns.
As Hasbro continues to evaluate its options, company leadership has expressed a desire for a more modern workspace, a significant departure from their existing facilities in Pawtucket. Economic uncertainties, heightened by recent tariffs impacting productions in Asia and a subsequent 19% drop in Hasbro’s stock price since early September, have exacerbated the urgency of this decision.
Local Rhode Island officials remain proactive, pitching various locations for a new headquarters and discussing substantial incentives to persuade Hasbro to stay. One of the locations under consideration includes the redevelopment of land at the former Interstate 195 site, which offers an affordable option for the company.
In light of Hasbro’s potentially transformative move, employees have communicated their preferences to stay in Pawtucket. The timeline for a definitive announcement regarding the headquarters shift may come as early as the first quarter of 2025. Should a decision to move be made, Hasbro is expected to provide at least a 12-month transition period before relocating.
As negotiations continue, city and state officials are making concerted efforts to convince Hasbro to maintain its roots in Rhode Island, emphasizing the importance of the company’s presence to the local culture and economy.
Deeper Dive: News & Info About This Topic
- Providence Journal: Hasbro’s Decision in Limbo
- Google Search: Hasbro headquarters move Boston
- NBC Boston: Hasbro’s Boston Headquarters
- Wikipedia: Hasbro
- Boston Globe: RI Hasbro Headquarters Move Announcement Delay
- Encyclopedia Britannica: Hasbro
- Turn to 10: Hasbro Eyeing Move to Boston’s Seaport
- Google News: Hasbro Boston headquarters move
- Brown Daily Herald: Keeping Hasbro in Rhode Island
- Google Scholar: Hasbro Boston headquarters move
Author: STAFF HERE PROVIDENCE WRITER
PROVIDENCE STAFF WRITER The PROVIDENCE STAFF WRITER represents the experienced team at HEREProvidence.com, your go-to source for actionable local news and information in Providence, Providence County, and beyond. Specializing in "news you can use," we cover essential topics like product reviews for personal and business needs, local business directories, politics, real estate trends, neighborhood insights, and state news affecting the area—with deep expertise drawn from years of dedicated reporting and strong community input, including local press releases and business updates. We deliver top reporting on high-value events such as WaterFire, Rhode Island International Film Festival, and Rhode Island Comic Con. Our coverage extends to key organizations like the Greater Providence Chamber of Commerce and Providence Warwick Convention & Visitors Bureau, plus leading businesses in finance and manufacturing that power the local economy such as Citizens Financial Group and Textron. As part of the broader HERE network, we provide comprehensive, credible insights into Rhode Island's dynamic landscape.
