After more than 100 years in Rhode Island, Hasbro is packing up and leaving the Ocean State behind. The Pawtucket-based toymaker — home of Monopoly, Nerf, and Transformers — announced Monday it will relocate its corporate headquarters to Boston’s Seaport District by the end of 2026.
The company will move into 400 Summer Street, occupying seven floors and 265,000 square feet of prime office space. At least 700 employees are expected to make the transition to Massachusetts, where Hasbro says it can “accelerate innovation, attract top talent, and drive long-term growth.”
Massachusetts Gov. Maura Healey wasted no time celebrating, calling the move a “huge win” for her state and praising Massachusetts as the nation’s best home for business, education, and families.
Rhode Island Gov. Dan McKee insisted that Rhode Island remains “the best place for Hasbro to call home” and pointing to other job creation under his administration.
But the reality is hard to ignore: Rhode Island just lost its largest corporate name, and it’s happening as the state continues to sink to the bottom of national business rankings.
A 2025 WalletHub study ranked Rhode Island dead last in America for starting or growing a business. The report called out:
* A stagnant economy (#50): The state offers few opportunities for companies to expand.
* Weak resources (#40): Entrepreneurs hit roadblocks finding capital or qualified workers.
* Crushing costs (#40): Taxes, rent, and utilities drive businesses away instead of attracting them.
For Hasbro, founded as Hassenfeld Brothers in Providence in 1923, Rhode Island’s challenges proved too big to overlook. Even with the company’s long legacy of philanthropy — from Hasbro Children’s Hospital to the Special Olympics — Boston simply offered more.
The message is clear: while Massachusetts is luring iconic brands with growth and opportunity, Rhode Island is losing ground and losing companies. For the state ranked worst in the nation for business, Hasbro’s departure is more than a move — it’s a verdict.
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