Sep 20, 2024
PROVIDENCE, R.I. (WPRI) -- Let the wooing begin. Gov. Dan McKee and R.I. House Speaker Joe Shekarchi met Thursday with Hasbro CEO Chris Cocks, days after news surfaced that the company is considering whether to move its headquarters out of Rhode Island. BACKGROUND: Hasbro mulls leaving Rhode Island State leaders are now scrambling to convince the toymaking and entertainment conglomerate to stay. Hasbro has been headquartered in Rhode Island for more than a century. It's currently located on Newport Avenue in Pawtucket. "Yesterday afternoon, Governor McKee and Speaker Shekarchi had the first of what they anticipate to be many productive meetings with Hasbro CEO Chris Cocks and his team," McKee spokesperson Olivia DaRocha said in a statement. DaRocha said this is the first time the governor has ever met with Cocks. "Following the meeting, the governor briefed Senate President Ruggerio on their discussion," she continued. "The governor, the speaker and the Senate president are prepared to continue making a strong case for Rhode Island and both the administration and the General Assembly are fully committed to pursuing all options to keep the company anchored in our state.” Hasbro spokesperson Roberta Thomson echoed McKee's office, saying in a statement, "The Hasbro team had a productive meeting with Governor McKee and Speaker Shekarchi. We look forward to continuing the discussions as we take the time to explore the best options for Hasbro's future." Absent from the meeting was Pawtucket Mayor Donald Grebien, who had said throughout the week that he and the governor were trying to get in touch with Cocks. The CEO has indicated the existing Pawtucket headquarters is too outdated for the company, which generated $5 billion in revenue last year. READ MORE: Pawtucket mayor strives to keep Hasbro in RI amid potential move "While Mayor Grebien was not involved in the initial meeting with Hasbro CEO Chris Cocks, both the speaker and Governor McKee have briefed the mayor in detail, as well as assured him he will be included in all conversations moving forward," Grebien spokesperson Grace Voll said in a statement. Hasbro paid $1.3 million in tangible and real estate taxes to the city last year, making it one of the city's larger commercial taxpayers. "The mayor is fully aware of what took place during yesterday’s meeting and will be involved in frequent discussions with Mr. Cocks and his team to keep Hasbro in Pawtucket for decades to come," Voll added.   Speaking with reporters Friday, Sherkarchi characterized the meeting as a preliminary step and didn't comment on whether Cocks had asked for anything from the state. Shekarchi said the goal is to keep Hasbro in Rhode Island, even if it isn't necessarily in Pawtucket. "We're looking at this as a state business and a state asset," he said. "We'd love to have them stay in Pawtucket, if possible, but if they can't stay we'd love to have them stay in the state of Rhode Island." Cocks told employees earlier this week they'd been exploring options in Boston and the surrounding suburbs. The Boston Business Journal reported executives had already visited real estate in the area. 12 News has confirmed that Hasbro leaders have held informal talks with Massachusetts Gov. Maura Healey's administration about a potential move. News that Hasbro was seriously exploring a relocation came as a surprise to Rhode Island elected officials. Shekarchi said the plan is to have more meetings with the Hasbro team, but he declined to specify what was talked about, calling it a sensitive issue. "We talked about Hasbro's 100-year commitment to Rhode Island," Shekarchi said, adding that he left the meeting feeling positive. "We want all of our businesses to stay and prosper and grow in Rhode Island," he said. RELATED: Hasbro CEO says no relocation for at least 18 months Ahead of the meeting Thursday, McKee told reporters the plan was to ask Hasbro executives what they wanted -- likely in the form of publicly funded incentives -- in exchange for staying in the state. "We'll be asking them what their ask is," he said. "We have every intention of maintaining Hasbro in the state of Rhode Island." It's not the first time Hasbro has flirted with the idea of leaving the state. The company had publicly acknowledged such discussions in 2019 under then-CEO Brian Goldner, who had been close to then-Gov. Gina Raimondo. But talk about moving died down after the coronavirus pandemic, and Goldner died of cancer in 2021, while Raimondo left for Washington. Cocks became CEO in 2022 and bought a home in Providence. He is originally from the West Coast and has said Hasbro needs to have a headquarters that's accessible. It's unclear how much of a relationship Rhode Island officials have forged with Cocks since he became CEO. The governor's office has not yet responded to a question Friday about the last time McKee or another senior administration official met with Cocks prior to this week. "We are looking to find a space that allows for collaboration, design and showcases who we are and what we stand for," Cocks wrote in a memo to employees on Monday. "A space that is accessible to our teams and partners." However, he warned employees, "Don't pack your bags yet," saying no move would happen before 2026. Eli Sherman ([email protected]) is a Target 12 investigative reporter for 12 News. Connect with him on Twitter and on Facebook. Kate Wilkinson and Ted Nesi contributed to this report. Close Thanks for signing up! Watch for us in your inbox. Subscribe Now Special Coverage & Notices SIGN UP NOW
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