By Brooke Thomson
President & CEO

Suddenly, Boston is the center of the toy and game universe.

Hasbro, Inc., the world’s third-largest game/toy/IP company, announced yesterday that it will relocate its corporate headquarters and 700 jobs from Rhode Island to the Boston Seaport District.  Hasbro will occupy seven floors across 265,000 square feet at 400 Summer Street with employees expected to transition by the end of 2026.

Hasbro said the move “positions the company to accelerate innovation, attract top talent, and drive long-term growth in line with Hasbro’s “Playing to Win” strategy, which emphasizes play-driven engagement and collaboration with partners.”

“Boston’s thriving business community, deep academic partnerships and cultural vibrancy, together with our Seattle team’s leadership in technology, creativity, and innovation, give Hasbro an unparalleled foundation for growth,” said Hasbro CEO Chris P. Cocks. “Together, these offices will fuel the next chapter of Hasbro.”

The move by Hasbro comes four months after the LEGO Group, the world’s largest toy company, moved its US headquarters from Connecticut to Boston. The LEGO Group will eventually employ 800 people at its Boylston Street US Hub. Massachusetts is also home to Harmonix, known for music games like Rock Band, and indie game studios like Demiurge Studios and Proletariat.

Hasbro originated in 1923 as Hassenfeld Brothers, a Rhode Island company founded by three Polish-Jewish brothers selling textile remnants and school supplies. The company began manufacturing its own pencils in 1935 and expanded into toys with medical sets and modeling clay in the late 1930s.

Hasbro is perhaps best known for introducing iconic toys like Mr. Potato Head and G.I. Joe.  It has transformed in recent years into a dominant force in toys and games, bringing brands such as Transformers, My Little Pony, Monopoly, and Magic: The Gathering into its portfolio.

The company also has deep roots in Massachusetts – Habro acquired East Longmeadow-based Milton Bradley Company in 1984 and Beverly-based Parker Brothers in 1991.

“We are thrilled that Hasbro has chosen Massachusetts as the home of its new headquarters, and we’re ready to support the hundreds of jobs they will create here,” said Governor Maura Healey.

“We’re proud to welcome this iconic company to Team Massachusetts — where we are number one for education, health care and innovation, and ranked the best state to live in, to raise a family, to be a woman and to be a working parent. I’m grateful for the leadership of Chris Cocks and his team at Hasbro, and for the hard work of my economic-development team that helped make this possible.”

The LEGO Group also cited Boston’s deep talent pool in establishing its US headquarters in Boston.

The LEGO hub at 1001 Boylston Street features 157,000 square feet across six floors, emphasizing creativity, well-being, and collaboration. LEGO executives said the decision to relocate to Boston was driven by access to the region’s talent pool, its innovative environment, and strong relationships with universities like MIT and Tufts, according to LEGO officials.

All of this is good news at a time when some of Massachusetts’ key growth industries face an uncertain outlook. The 1,500 jobs provided by Hasbro and LEGO remind us that economic development is more than just a game.