PAWTUCKET, R.I. (WPRI) — Hasbro is again considering a move out of Rhode Island.
The toymaking and entertainment giant confirmed Monday it’s exploring options that include moving its headquarters out of its current home in Pawtucket.
Hasbro — which has been headquartered in Rhode Island for over a century — generated more than $5 billion in revenue last year. It’s one of the state’s largest publicly traded companies and employs about 1,400 people locally, according to the latest version of PBN Book of Lists.
“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,” Hasbro spokesperson Abby Hodes said in statement.
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The Boston Business Journal first reported the company’s potential move. Hasbro executives have been visiting real estate in Boston and its surrounding suburbs recently, according to the business publication.
“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,” Hodes added. “Regardless of the outcome and location, we remain committed to our history – not leaving it behind, but building on it.”
Hasbro CEO Chris Cocks didn’t make any mention of a potential move during a public address he delivered at a Greater Providence Chamber of Commerce event just hours before the news became public.
Asked what Hasbro’s departure would mean for the Rhode Island business community, Chamber President Laurie White said late Monday: “The state should do everything it can to retain the jobs.”
Referencing an effort earlier this year by Massachusetts Gov. Maura Healey to lure Citizens Financial Group out of Rhode Island, White said, “It’s similar to the situation that arose in the spring, where Massachusetts is aggressively going after Rhode Island companies.”
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“Take nothing for granted,” White added. “We’ve seen this pattern.”
Healey’s office didn’t immediately respond to a request for a comment.
After the news came out, Pawtucket Mayor Donald Grebien said, “All hands are on deck to keep this iconic company in Pawtucket.” The mayor said he and Gov. Dan McKee were in contact with Cocks on Monday, and they were “finalizing a meeting with the goal of ensuring Hasbro continues to thrive in the place it has called home for so many years.”
“As mayor, I want to assure our residents that we are doing everything possible to keep Hasbro here in Pawtucket,” Grebien said in a statement. “Pawtucket values its relationship with Hasbro, and we remain fully committed to supporting their future success and keeping this iconic company right here where it belongs.”
In a statement, McKee said, “Mayor Grebien and I agree — it’s all hands on deck to keep Hasbro in Pawtucket.”
“We have reached out to Hasbro CEO Chris Cocks and we look forward to meeting with him with the ultimate goal of ensuring Hasbro remains and thrives in our state,” the governor said. “Together, the state and the city will absolutely pursue all options to maintain Hasbro’s presence in Pawtucket.”
R.I. Commerce Secretary Liz Tanner met with Hasbro executives in February, and at the time they “made no mention about a potential move,” according to Matt Touchette, her spokesperson. The meeting was scheduled at Tanner’s request, he said.
Touchette added that Rhode Island officials “are committed to continuing our efforts to keep Hasbro headquartered in Rhode Island.”
A spokesperson for R.I. House Speaker Joe Shekarchi said he hadn’t heard anything yet as of Monday afternoon.
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Former Providence Mayor Joe Paolino, one of Rhode Island’s top property magnates, echoed White in saying there should be a public effort to keep the company headquartered in Rhode Island.
“That would be very disappointing if that’s happening,” Paolino said Monday. “That’s something the governor and mayor should be on top of.”
This isn’t the first time Hasbro has mulled a move out of Rhode Island.
Prior to the pandemic, company officials had examined locations outside of the state while considering a change in headquarters under its then-CEO, Brian Goldner, who died in 2021. At the time, then-Gov. Gina Raimondo expressed confidence that the company would remain in Rhode Island.
Hasbro has faced business challenges since the pandemic, announcing major layoffs. The company has already downsized its footprint in Rhode Island recently by closing an office in downtown Providence.
Ted Nesi contributed to this report.
