News Summary
Hasbro Inc. is contemplating a move from Pawtucket, Rhode Island, to Boston, Massachusetts, as CEO Chris Cocks explores potential tax incentives. The company’s employees mostly reside in Massachusetts, making the move appealing. Rhode Island officials, including Governor Dan McKee, are actively trying to retain Hasbro’s headquarters. Massachusetts is leveraging its Economic Development Incentive Program to attract the toy giant. With ongoing restructuring and a decision timeline by mid-2026, the future of Hasbro hangs in the balance.
Pawtucket, Rhode Island – A Series of Shocking Developments with Hasbro
In a surprising turn of events, Hasbro Inc. is seriously considering moving its headquarters from its long-time home in Pawtucket, Rhode Island, to the bustling city of Boston, Massachusetts. This news has created quite a buzz, as the discussions around this potential move have been ongoing for about six months now. The company’s CEO, Chris Cocks, has been in talks with Massachusetts economic development officials, and it seems a significant factor in this decision-making process is the possibility of state tax breaks.
Why the Move?
According to emails that have been made public, it’s clear that the executives at Hasbro are looking in-depth at what relocating to Boston would mean for the company. They have even taken the time to tour potential office spaces in downtown Boston to see if it could be a suitable new home. So, what’s driving this possible relocation? Well, many of Hasbro’s employees actually live in Massachusetts, so the idea of moving closer to where their workforce resides is certainly an appealing one.
Rhode Island’s Response
The news of this potential move undoubtedly caught Rhode Island officials off guard. A swift response was necessary, and Governor Dan McKee has wasted no time pledging efforts to keep Hasbro right where it is. He is rallying resources to ensure the company remains an integral part of the Rhode Island community, emphasizing the importance of Hasbro’s presence to the local economy.
Meetings & Connections
Interestingly, Chris Cocks had a dinner meeting with Massachusetts Economic Development Secretary Yvonne Hao back in early April. This meeting underscored the enthusiasm Massachusetts has about potentially welcoming Hasbro, noting the influx of other notable companies like Lego and Wayfair that have recently made Boston their home.
Incentives on the Table
In an effort to entice Hasbro further, Massachusetts is putting its Economic Development Incentive Program (EDIP) into play. This program links tax credits to job creation, although it’s important to note that, as of now, no specific offers have been formally extended to Hasbro. There has been communication about the available incentives, and interest from the Massachusetts side appears strong and focused.
What’s Next?
As the future of Hasbro hangs in the balance, it’s clear that Rhode Island isn’t sitting back. Although they haven’t released detailed plans for tax incentives to keep Hasbro in Pawtucket, ideas such as establishing a new headquarters in Providence are certainly on the table. With a timeline circulating of potentially making a decision by mid-2026, Hasbro has its work cut out for them.
Impact on Employees
In the meantime, Hasbro is undergoing some restructuring, having laid off nearly 100 employees during this transitional period. Their focus has narrowed primarily to the Boston Seaport area for potential new headquarters, demonstrating a concrete interest in the move.
The Future of Hasbro
Whatever happens next, Hasbro has expressed its desire for a work environment that fosters innovation and collaboration, values that resonate deeply with their core brands. As communities in both Rhode Island and Massachusetts hold their breath, one thing is for sure: the coming months will be crucial for Hasbro as they navigate this significant decision for their future.
Stay tuned, as we’ll be keeping a close eye on this evolving situation. Will Hasbro stay with the Ocean State or drift over to the Bay State? Only time will tell!
Deeper Dive: News & Info About This Topic
- NBC Boston
- Wikipedia: Hasbro
- Providence Journal
- Google Search: Hasbro relocation
- Boston.com
- Google Scholar: Hasbro moves
- ABC6
- Encyclopedia Britannica: Hasbro
- Turn to 10
- Google News: Hasbro Boston move
