News Summary
Hasbro, Inc. has announced the relocation of its global headquarters from Pawtucket, Rhode Island, to Boston’s Seaport District by the end of 2026. The new facility will accommodate over 700 employees and is part of a broader initiative to enhance innovation and attract talent. While Boston leaders welcome the move, concerns arise in Rhode Island regarding potential economic impacts, job retention, and the cost of living for employees. This transition reflects a broader trend in corporate relocations, prompting discussions on economic strategies for affected regions.
Rhode Island – Hasbro, Inc. has announced plans to relocate its global headquarters from Pawtucket, Rhode Island to Boston’s Seaport District by the end of 2026. The new headquarters will be situated at 400 Summer Street, within a state-of-the-art office building developed by WS Development.
The new facility will encompass seven floors and span 265,000 square feet, accommodating over 700 full-time employees expected to make the transition during the move. This strategic relocation is part of Hasbro’s long-term initiative known as “Playing to Win,” which aims to enhance innovation capabilities and attract high-caliber talent to the organization.
CEO Chris Cocks underscored that Boston’s vibrant business ecosystem and culture were pivotal factors influencing the decision to move. Despite the company’s shift, Hasbro acknowledges its deep-rooted connection to Rhode Island, where it has been based for more than a century, and has committed to maintaining its annual donations to local communities and continuing recruitment efforts within the state.
Details of the Move
The company’s new Boston headquarters will serve as the central hub for Hasbro’s diverse portfolio, which includes toys, board games, licensing, and most corporate services. Meanwhile, Hasbro will retain its office in Renton, Washington, which will continue to function as the headquarters for its gaming and digital sectors, including popular franchises such as Magic: The Gathering.
Responses from Local Leaders
In response to Hasbro’s announcement, Massachusetts leaders have welcomed the decision, with Governor Maura Healey highlighting the state’s reputation for education and innovation. Conversely, local political leaders in Rhode Island have raised concerns about the potential negative impacts of the relocation, particularly regarding the local economy, job retention, and loss of tax revenue for the community.
Employee Considerations
With the move to Boston, commuting logistics have become a significant concern for many employees currently residing in Rhode Island. The cost of living in Boston is considerably higher, with the average rent for a one-bedroom apartment reaching approximately $3,500, compared to $2,000 in Providence. Additionally, the financial implications of commuting add to employee uncertainties, with the daily round trip from Pawtucket to Boston costing $24.50 and monthly passes priced at $378. There is also speculation about potential salary adjustments that could be implemented to address the increased cost of living.
Evolving Corporate Landscape
Hasbro’s recent move follows the company’s earlier decision to lay off around 3% of its workforce, equating to approximately 150 employees, in an effort to restructure and turnaround the organization. The relocation is considered indicative of evolving trends among corporate headquarters and raises questions about whether other companies might follow suit to benefit from more favorable business environments.
Impact on Rhode Island
The move is poised to have significant ramifications for Pawtucket, a city that has long been synonymous with Hasbro. Local leaders have expressed the need for effective economic development strategies to address potential job losses and to attract new businesses to the region in the wake of Hasbro’s departure. As the company transitions its headquarters, the focus will shift towards ensuring continued growth and stability in the local economy.
With the relocation still a few years away, both states will be watching closely how this shift unfolds and its impact on employees, local economies, and the toy industry at large.
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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.
