Connect with us

Rhode Island

Hasbro is considering moving from Pawtucket to Boston

Published

on

Hasbro is considering moving from Pawtucket to Boston


Business

Local politicians are scrambling to keep the toy company in Rhode Island.

The exterior of Hasbro Inc.’s location in Pawtucket, Rhode Island. Jonathan Wiggs/Globe Staff

The iconic toy maker and entertainment company Hasbro is considering uprooting its headquarters in Pawtucket, Rhode Island, to Boston. If this happens, it would leave a hole in the Ocean State but bolster the recovering downtown Boston.

“It’s all hands on deck to keep Hasbro in Pawtucket,” Rhode Island Gov. Dan McKee said in a statement. 

Advertisement

McKee and Mayor Don Grebien reached out to Hasbro’s CEO, Chris Cocks, in the hopes of persuading the company to remain in the state. 

“Together, the state and the city will absolutely pursue all options to maintain Hasbro’s presence in Pawtucket,” McKee said. 

Rhode Island Congressman Gabe Amo, who grew up in the city, also hopes to help persuade the company to stay. 

“For more than a century, Hasbro’s Pawtucket headquarters has been the place where toy ideas come to life,” he said in a statement. “The workers at this iconic Rhode Island business have been an invaluable part of our community and I hope that this storied history is on the minds of Hasbro’s leadership.”

Hasbro is one of a few large corporations headquartered in Rhode Island, along with CVS, Textron, and FM Global. 

Advertisement

The international company is known for its portfolio of over 1,800 brands, including Monopoly, Dungeons & Dragons, Nerf, Transformers, Play-Doh, and Peppa Pig. 

Hasbro was founded in 1923 by Henry and Hillel Hassenfeld. It began by selling textile remnants before manufacturing pencil boxes and school supplies. In 1952, it changed the toy industry by creating the Potato Head. 

According to the company’s 2023 annual report, it has about 5,500 employees worldwide, about half located in North America. The company owns its corporate headquarters in Pawtucket, which is about 343,000 square feet, and an adjacent facility of about 23,000 square feet.

The Boston Business Journal broke the news Monday that Hasbro was scouting Boston-area locations. 

According to a source close to Gov. Maura Healey, members of her economic team have met informally with Hasbro. 

Advertisement

“We are always competing for businesses to move and expand to our state and will continue to support existing businesses across Massachusetts,” wrote Healey’s spokesperson, Karissa Hand. 

Hand added that the state is ranked No. 1 for innovation, education, and health care and is also the best state for raising a family and for women. 

In a message Cocks sent to Hasbro employees on Monday, which Boston.com obtained a copy of, he told employees, “Don’t pack your bags yet,” as nothing is final and it could take up to two years to move. 

“As we build a workplace for the future that reflects our brands, our vision, and our impact, we are considering options for a more suitable HQ, including in the Greater Boston area,” Cocks wrote in his email. “We are looking to find a space that allows for collaboration and design and showcases who we are and what we stand for. A space that is accessible to our teams and our partners.”

Hasbro faces headwinds:

The move comes after a challenging year at the company. 

Advertisement

In 2023, the company’s net revenues decreased 15% from the prior year to about $5 billion. 

In a corporate filing last December, the toy maker announced that it was cutting 1,100 jobs or 20% of its workforce. The reductions were on top of 800 job cuts made last year as part of a strategic move to save up to $200 million to reinvest in the business. 

The same filing also announced the company’s plans to close its leased 136,000-square-foot office space in Providence, Rhode Island, by January 2025. 

In addition, the annual report said that Hasbro finalized the sale of its Entertainment One Film and television business, eOne Film and TV, to Lions Gate Entertainment Corp. for $370 million last December. 

However, Cocks was optimistic during the second quarterly results that came out in July. 

Advertisement

“Hasbro is emerging as a more profitable, agile, and operationally excellent company delighting fans of all ages through the magic of play,” Cocks said in a statement to Bussiness Wire. 





Source link

Continue Reading
Advertisement
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Rhode Island

Castro scores 16, George Washington downs Rhode Island 75-67

Published

on

Castro scores 16, George Washington downs Rhode Island 75-67


Associated Press

KINGSTON, R.I. (AP) — Rafael Castro scored 16 points as George Washington beat Rhode Island 75-67 on Wednesday night.

Castro shot 7 of 10 from the field and 2 for 4 from the line for the Revolutionaries (13-3, 2-1 Atlantic 10 Conference). Sean Hansen added 12 points while going 4 of 10 from the floor, including 1 for 5 from 3-point range, and 3 for 3 from the line while they also had five assists. Trey Autry went 4 of 8 from the field (2 for 5 from 3-point range) to finish with 10 points, while adding 10 rebounds.

Advertisement

The Rams (12-3, 1-2) were led in scoring by Sebastian Thomas, who finished with 20 points, six rebounds and three steals. Quentin Diboundje added 14 points and seven rebounds for Rhode Island. Jaden House finished with 10 points.

George Washington entered halftime up 38-30. Castro paced the team in scoring in the first half with nine points. George Washington used a 12-2 second-half run to break a 61-61 tie and take the lead at 73-63 with 1:33 remaining in the half before finishing off the victory. Jacoi Hutchinson scored 10 second-half points.

George Washington plays Wednesday against Duquesne at home, and Rhode Island visits Richmond on Saturday.

___

The Associated Press created this story using technology provided by Data Skrive and data from Sportradar.

Advertisement




Source link

Continue Reading

Rhode Island

$2 Million Federal Grant to Boost Providence’s Transit, Reconnect Communities – Newport Buzz

Published

on

 Million Federal Grant to Boost Providence’s Transit, Reconnect Communities – Newport Buzz


Federal officials have announced a $2 million grant aimed at improving community connectivity and pedestrian safety in Providence’s urban core. The funding, provided through the U.S. Department of Transportation’s (USDOT) Reconnecting Communities Pilot (RCP) Grant Program, will support a study for multimodal transit improvements and new commuter connections in the city.

The initiative, led by the Rhode Island Department of Transportation (RIDOT), focuses on the “Connect Four: Bridging Providence’s Urban Core” project. The study will gather community input and analyze how to reunite neighborhoods divided by infrastructure projects, such as the construction of Interstate 95 (I-95) and Rhode Island Route 10 (RI-10).

“This new $2 million grant will help make roads safer, revitalize neighborhoods, and promote healthy and connected communities,” said U.S. Senator Jack Reed. “RIDOT can use this federal grant to help remove roadblocks to transit access, improve mobility, and reduce traffic jams and pollution.”

The grant, made possible by the Bipartisan Infrastructure Law, will also prioritize pedestrian and cyclist safety while addressing outdated infrastructure. “This latest round of federal funding will lay the groundwork to create new connections between Providence neighborhoods and make getting around our capital city easier and more efficient,” said Senator Sheldon Whitehouse.

Advertisement

Revitalizing Neighborhoods and Infrastructure

The project will evaluate the redesign of four key bridges spanning I-95 and RI-10 along Atwells Avenue, Dean Street, Washington Street, and Westminster Street. These bridges, which are slated for replacement under RIDOT’s 10-year State Transportation Improvement Program, will be reimagined with a “complete streets” approach to accommodate future needs.

“We will put these funds to work right away, incorporating a complete streets design for these new bridge projects to support the current and future needs of residents and visitors in Providence,” said RIDOT Director Peter Alviti, Jr.

RIDOT will also identify unnecessary ramp infrastructure for removal, creating opportunities for new development in areas previously occupied by highway ramps.

Restoring Communities

Advertisement

The funding underscores efforts to address historic transportation decisions that disproportionately affected underserved neighborhoods.

“In Providence, working-class, majority-minority neighborhoods have been divided since the construction of the I-95 and RI-10 highways. With this $2 million federal investment, our delegation is accelerating efforts to restore communities through thoughtful growth,” said Senator Reed.

The RCP program, established under the Infrastructure Investment and Jobs Act, supports projects that improve access to jobs, education, health care, and recreation in communities historically divided by infrastructure.

Economic and Community Benefits

Dr. Charles Hall Obituary

The study is expected to lay the groundwork for enhanced public transit options and economic growth. “American households spend nearly 16 percent of their income on transportation, which can be a significant burden for low-income families,” RIDOT noted, emphasizing the broader economic implications of improved transit infrastructure.

 

Advertisement

 

 


Like Newport Buzz? We depend on the generosity of readers like you who support us, to help with our mission to keep you informed and entertained with local, independent news and content. We truly appreciate your trust and support!

 




Source link

Advertisement
Continue Reading

Rhode Island

The outlook for Rhode Island’s charter schools – The Boston Globe

Published

on

The outlook for Rhode Island’s charter schools – The Boston Globe


The charter school movement has mostly flown under the radar in Rhode Island politics in recent years, and that’s just how they like it. But 2025 could be an interesting year as one mayoral academy seeks to make a big change, other schools consider unionizing, and a potential new school goes back to the drawing board.

Here’s a look at the lay of the land.

A big change at RISE Prep

There are two kinds of charter schools in Rhode Island: Most are considered independents, but some are mayoral academies, which require a municipal chief executive to serve as chair of the board. Mayoral academies were spearheaded by Governor Dan McKee when he was mayor of Cumberland, and they have historically faced stronger push back from teachers’ unions because some of them are part of larger national or regional networks of charter schools (like Achievement First).

RISE Prep, a 3-star mayoral academy that admits students from Woonsocket, North Smithfield, and Burrillville, has been given the go-ahead to switch from a mayoral academy to an independent school. In its proposal, the school said the change “will mitigate instability and unpredictability,” both financially and politically. 

Advertisement

We know that teachers at Highlander Charter School and Paul Cuffee voted to unionize in 2024, and the state’s two teachers’ unions are engaged in conversations with other charter school teachers about joining, too. One big question is whether the incoming Trump administration will seek to roll back some of the rules set by President Joe Biden’s administration that made it easier to unionize. 

The other key question is what kind of contracts the teachers at Highlander and Cuffee will get during negotiations this year. Highlander joined the International Brotherhood of Electrical Workers Local 2323, and Cuffee’s teachers are now members of the Rhode Island Federation of Teachers and Health Professionals. If the unions can win favorable terms for their new members, other charter schools could follow.

New England Tech’s plans

The New England Institute of Technology was hoping to open a high school focused on career and technical education in September, but it faced resistance from organized labor and decided to pump the brakes on the proposal. The idea still has support at both the university and from Education Commissioner Angélica Infante-Green, but it could be difficult to open a new charter school that is opposed by labor in 2026 because it’s an election year.

Advertisement

This story first appeared in Rhode Map, our free newsletter about Rhode Island that also contains information about local events, links to interesting stories, and more. If you’d like to receive it via e-mail Monday through Friday, you can sign up here.


Dan McGowan can be reached at dan.mcgowan@globe.com. Follow him @danmcgowan.





Source link

Advertisement
Continue Reading

Trending