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Rhode Island officials are scrambling after being surprised by the news that the iconic toy-maker and entertainment company Hasbro is considering moving its headquarters out of state.
“It’s all hands on deck to keep Hasbro in Pawtucket,” Gov. Dan McKee said in a statement.
McKee said Pawtucket Mayor Don Grebien and he are seeking a meeting with Hasbro CEO Chris Cocks “with the ultimate goal of ensuring Hasbro remains and thrives in our state. Together, the state and the city will absolutely pursue all options to maintain Hasbro’s presence in Pawtucket.”
The news that Hasbro was scouting Boston-area locations for a possible new headquarters was first reported Monday by the Boston Business Journal.
In a statement, company spokeswoman Roberta Thomson said, “As Hasbro continues to evolve, we’re exploring options for our global headquarters to make sure it is a space that can best serve our employees, partners, and business needs for years to come. We’re taking our time, evaluating all options that can best support our team’s creativity and innovation, and will share updates on our progress. Regardless of the outcome and location, we remain committed to our history – not leaving it behind, but building on it.”
Cocks did not mention the company’s possible relocation when he was part of the featured conversation earlier Monday during the Greater Providence Chamber of Commerce 2024 fall economic outlook luncheon at the Rhode Island Convention Center.
House Speaker Joe Shekarchi said he was unaware before the news broke that Hasbro was contemplating leaving the state.
He said the General Assembly is ready to consider possible steps to keep the company in Rhode Island.
“I have not been contacted by anyone from Hasbro and I’m not aware of any requests that the company may have – but my door remains open to them,” the speaker said in a statement. “I stand ready to work with the Governor and the Commerce Corporation in efforts to keep Hasbro in Rhode Island.”
Hasbro – named for the two brothers, Henry and Helal Hassenfeld, who launched the company in Providence as a maker of pencil boxes in 1923 – dates to the time when Rhode Island’s capital city was an industrial powerhouse.
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Now, though, Hasbro – along with CVS, Textron, and FM Global – is among a small number of large corporations with headquarters in Rhode Island. Although the unemployment rate remains low here, the state has for years lacked major engines of job growth.
With rival Mattel, Hasbro is a top toy manufacturer and it has operations in 50 countries.
Hundreds of employees work for Hasbro in Rhode Island, although the precise number – as high as 1,600 some years ago – is unclear after the company announced last December it was closing its Providence office.
Also unclear is the company’s timeline for deciding on a possible move.
“Hasbro has been an integral part of Pawtucket’s identity for decades, playing a vital role in shaping the fabric of our community while growing into one of the world’s premier toy and game companies,” Pawtucket Mayor Don Grebien said in a statement.
“We are incredibly grateful for their contributions over the years and for their ongoing commitment to our city,” Grebien added. “As mayor, I want to assure our residents that we are doing everything possible to keep Hasbro here in Pawtucket. We are working closely with Governor McKee and our Commerce teams.”
Matthew Touchette, spokesman for the state’s economic development agency, the Commerce Corporation, said, “When Secretary [Elizabeth] Tanner met with Hasbro executives in February, the company made no mention about a potential move. However, we are committed to continuing our efforts to keep Hasbro headquartered in Rhode Island.”
This story is a production of the New England News Collaborative. It was originally published by The People's Radio.
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