Hasbro is moving its global headquarters from pawtucket, Rhode Island, to Boston‘s Seaport district, the toy and game company announced tuesday. The relocation, slated for early 2024, marks a significant shift for the 100-year-old corporation and signals a commitment to attracting top talent and fostering innovation.The move impacts approximately 300 employees who will transition to the new Boston location, while Hasbro intends to maintain a presence in Rhode Island. This decision follows a strategic review initiated in late 2022, aimed at streamlining operations and positioning the company for long-term growth. Hasbro’s lease at its current Rhode Island headquarters expires at the end of 2023.
“Boston’s vibrant innovation ecosystem and access to a diverse talent pool make it an ideal location for Hasbro’s next chapter,” said Chris Cocks, CEO of Hasbro, in a press release. “This move will allow us to better collaborate with our teams, partners, and customers, and to continue delivering innovative play experiences for families around the world.”
Hasbro has signed a lease for approximately 192,000 square feet at One Congress in Boston’s Seaport, a newly constructed office tower. The company anticipates the relocation will cost approximately $70 million,including relocation expenses and leasehold improvements.
The Rhode Island government has offered Hasbro incentives to remain in the state, but ultimately, the company steadfast that Boston offered a more favorable environment for its future growth. Hasbro employs roughly 6,100 people globally. The company’s portfolio includes iconic brands such as Transformers, G.I. Joe,My Little Pony,and monopoly.
