Toy supergiant Hasbro announced on Sept. 16 that they were considering moving their global headquarters from Pawtucket to Boston.
Hasbro representatives toured office spaces in Boston and have regularly met with Boston and Massachusetts officials over the past six months, the Business Journals reported.
In an email to employees that The Herald reviewed, Hasbro CEO Chris Cocks wrote that no move would happen for “at least 18 months.” He added that the company would continue “supporting the local groups” in Rhode Island.
Gov. Dan McKee met with Cocks and R.I. House Speaker Joe Shekarchi, D-Warwick after the Sept. 16 announcement to discuss “Hasbro’s future needs … with the ultimate goal of ensuring Hasbro remains and thrives in our state,” Olivia DaRocha, press secretary for the governor, wrote in an email to The Herald.
Pawtucket Mayor Donald Grebien has also taken part in those conversations, according to Grace Voll, the city’s director of communications.
“This is not the first time Hasbro has explored alternative options,” Voll wrote in an email to The Herald. Moving Hasbro’s headquarters “would be a major loss for Pawtucket,” she added.
City officials and local organizations have offered several new Pawtucket locations to host Hasbro’s headquarters. The Pawtucket Foundation, an advocacy group focused on redevelopment efforts, proposed the city transform the former Apex building, acquired in 2021 by the Pawtucket Redevelopment Agency, into a new Hasbro base.
Providence Communications Director Josh Estrella wrote that “the city would be open to submitting a proposal” for Hasbro to relocate their headquarters to Providence.
Laurie White, president of the Greater Providence Chamber of Commerce, proposed building a new Hasbro Headquarters in the 195 District, noting the potential benefits of the proximity to Brown and the Rhode Island School of Design, such as employee recruitment.
White highlighted the competitive nature of keeping businesses in Rhode Island as other states offer a variety of incentives.
Massachusetts, for example, has established an Economic Development Incentive Program that offers state tax credits and local property tax incentives “to foster job creation and stimulate business growth.” Although Hasbro has not received specific offers, state officials have presented a summary of incentives for businesses to relocate to Massachusetts, according to the Boston Business Journal.
The R.I. Commerce Corporation also offers financial incentives and tax credits, in addition to helping companies navigate “state and local zoning, permitting, licensure and regulatory concerns,” according to their website.
“We should take nothing for granted when it comes to retaining any of our major employers,” White wrote in a statement shared with The Herald. “Rhode Island policy leaders must do everything possible to understand the dynamics of … what’s driving these location decisions for employers … and respond aggressively.”
