Home Economy Economic Activity Report: McKee warns Hasbro delaying HQ decision could hinder public subsidy deal

Report: McKee warns Hasbro delaying HQ decision could hinder public subsidy deal

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PBN Staff

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04/22/2025

mckeehead — GOV. DANIEL J. McKee has warned Hasbro Inc. that time is running out if the toy company seeks any public subsidies to remain in Rhode Island, WPRI-TV CBS 12 reported Tuesday. /PBN FILE PHOTO/MICHAEL SALERNO

PROVIDENCE – Gov. Daniel J. McKee has warned Hasbro Inc. that time is running out if the toy company seeks any public subsidies to remain in Rhode Island, WPRI-TV CBS 12 reported Tuesday. In a letter dated April 11, Senior Deputy Chief of Staff Antonio Afonso Jr. told Tarrant Sibley, Hasbro’s chief legal officer, that

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1 COMMENT

JAMES LOW 04/23/2025 At 1:22 pm

So the Governor is chasing Hasbro away with silly threats. Come on dude.

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PROVIDENCE – Gov. Daniel J. McKee has warned Hasbro Inc. that time is running out if the toy company seeks any public subsidies to remain in Rhode Island, WPRI-TV CBS 12 reported Tuesday. In a letter dated April 11, Senior Deputy Chief of Staff Antonio Afonso Jr. told Tarrant Sibley, Hasbro’s chief legal officer, that while the state “remains extremely interested” in having Hasbro remain headquartered in Rhode Island, state lawmakers would need a decision soon in order to take action on a proposed subsidy package, according to the report. “The General Assembly will likely recess its current session in mid-June based upon past history,” Afonso wrote. “January of 2026 would likely be when the General Assembly would reconvene.” The letter, which was copied to House Speaker K. Joseph Shekarchi, the late Senate President Dominick Ruggerio, and I-195 Commission Chairman Marc Crisafulli, came after the Pawtucket-based company delayed its decision until summer to move its headquarters to Boston. However, Shekarchi told WPRI the company’s timing won’t be an issue for the General Assembly. The House speaker told Hasbro CEO Chris Cocks after the letter was sent that that the General Assembly would be flexible in order to keep Hasbro in the state. “I had a conversation last week with Chris Cocks and I encouraged Hasbro to remain in Rhode Island on a timetable they are comfortable with,” Shekarchi told WPRI. “If there is legislation that is needed after the House recesses in June, I would be more than willing to call the House back in the off-session.” First reported by the Boston Business Journal in October citing unnamed real estate sources, Hasbro is considering commercial space in Boston’s Seaport District. Pawtucket also made a bid to Hasbro to take over a 20-acre parcel that includes the former Apex building, which Mayor Donald Grebien called a “bold and comprehensive” proposal to relocate to a site with direct pedestrian access to the new Centerville Bank Stadium entertainment district. The company, which manufactures most of its products in Asia, has said publicly that President Donald J. Trump’s 10% tariffs on China could become a risk to its portfolio. McKee told WPRI he hadn’t seen a response yet from the company. However, he doubled down on the need to move quickly on any potential deal with Hasbro so state leaders would have certainty about whether the company needed taxpayer dollars or if that money could be spent on other projects. “We want you to make a decision to stay here, but there is a time frame and limited resources,” McKee said. “Part of those resources that we have in the state have been allocated in the plan that we presented to Hasbro. “There’s an urgency here that we wanted to get on record with Hasbro,” McKee added. “The resources that we have – we need to activate those resources, so we put people to work with good-paying jobs and have that work pay off dividends for decades to come.” Hasbro will report its first quarter earnings on April 24.