News Summary
Hasbro, the iconic toy company known for its popular brands like Monopoly and Mr. Potato Head, is relocating its headquarters from Pawtucket, Rhode Island, to Boston’s Seaport District. The move entails transitioning 700 employees to a new 265,000 square foot space by the end of next year. Despite efforts from Rhode Island officials to retain the company, Hasbro’s decision aligns with its strategy to innovate and attract top talent. The transition marks a significant shift for both Hasbro and the evolving business landscape in the region.
Boston – Hasbro, the iconic toy company famous for beloved products such as Mr. Potato Head and Monopoly, has announced plans to relocate its headquarters from Pawtucket, Rhode Island, to Boston’s Seaport District. The move, which is expected to be finalized by the end of next year, involves transitioning 700 full-time employees to a newly developed space at 400 Summer St., comprising 265,000 square feet over seven floors.
The relocation is significant as it positions Hasbro in one of the nation’s rising business hubs, aligning with the company’s strategy to enhance innovation, attract top industry talent, and promote long-term growth. The new headquarters will house the primary operations for Hasbro’s toys, board games, licensing businesses, and various corporate services.
Patrons of Rhode Island’s business community have expressed disappointment regarding the move, which comes after Hasbro explored relocation options for over a year. Although Rhode Island officials made efforts to retain the company, including offering land incentives and support initiatives, these attempts ultimately fell short. Rhode Island Governor Dan McKee emphasized that he believed the state was an optimal place for Hasbro’s continued success.
The transition to Boston represents a broader trend in which companies are gravitating towards urban centers with increased business development and networking opportunities. Alongside Hasbro, Boston has previously attracted well-known companies like LEGO and Keurig Dr Pepper, further solidifying its reputation as an economic powerhouse.
Established in 1923 as Hassenfeld Brothers, Hasbro has a rich history in the toy industry. Originally focused on textiles, the company gradually shifted its focus to school supplies and eventually—after a groundbreaking launch of Mr. Potato Head in 1952—established its foothold in toys. Since 1968, Hasbro has maintained its operations in Pawtucket, where it has played a pivotal role in Rhode Island’s economy and culture. The decision to move marks the end of an era and raises questions about the future of the toy giant in its longtime hometown.
With the firm commitment to support local community initiatives, Hasbro intends to continue its contributions to Hasbro Children’s Hospital in Providence, demonstrating an ongoing loyalty to its roots. Additionally, the company plans to recruit talent from Rhode Island’s colleges and universities to honor the legacy of its founding family.
As Boston prepares for the transition, city officials including Governor Maura Healey and Mayor Michelle Wu have welcomed Hasbro to Massachusetts, emphasizing the company’s importance as a cultural icon within the state. Wu noted that Hasbro’s creative spirit aligns well with the city’s mission of fostering a family-friendly environment.
This monumental shift for Hasbro marks not only a pivotal change for the company but also signifies evolving business landscapes in the region. Companies increasingly prioritize locations that offer connectivity and innovative workspaces, contributing to the ongoing transformation of urban economic frameworks. The completion of this move will be closely watched, as it unfolds against the backdrop of a dynamic business environment in Boston.
Deeper Dive: News & Info About This Topic
- CBS News: Hasbro Moving Headquarters
- Wikipedia: Hasbro
- Turn to 10: Hasbro Relocates
- Google Search: Hasbro Headquarters Move
- NBC Boston: Hasbro Moves Headquarters
- Encyclopedia Britannica: Toy
- Boston.com: Hasbro Relocates to Boston
- Google News: Hasbro Boston Move
Author: STAFF HERE BOSTON WRITER
BOSTON STAFF WRITER The BOSTON STAFF WRITER represents the experienced team at HEREBoston.com, your go-to source for actionable local news and information in Boston, Suffolk County, and beyond. Specializing in "news you can use," we cover essential topics like product reviews for personal and business needs, local business directories, politics, real estate trends, neighborhood insights, and state news affecting the area—with deep expertise drawn from years of dedicated reporting and strong community input, including local press releases and business updates. We deliver top reporting on high-value events such as Boston Marathon, Head of the Charles Regatta, and Boston Harborfest. Our coverage extends to key organizations like the Greater Boston Chamber of Commerce and Associated Industries of Massachusetts, plus leading businesses in finance, biotech, and insurance that power the local economy such as Fidelity Investments, Biogen, and Liberty Mutual Insurance. As part of the broader HERE network, we provide comprehensive, credible insights into Massachusetts's dynamic landscape.
