Toy making giant, Hasbro Inc. will expand in downtown Providence, Rhode Island with a $24 million investment. The project is expected to bring more than 250 jobs over the next three years.
According to Wayne Charness, a senior vice president at Hasbro, some employees will be relocated from the company headquarters in Pawtucket to the new 15 LaSalle Square address, formerly occupied by Blue Cross & Blue Shield of Rhode Island.
The company, whose products include Monopoly, Transformers, and Beyblade, is receiving up to $1.6 million in tax breaks from the state as part of the development.
“Hasbro’s expansion is part of the company’s continued emergence as a leading branded play and family entertainment company,” the state Economic Development Corporation said in a news release. “The move will further bolster the growing knowledge economy in Providence and will be a significant addition to the creative and technological talent base already flourishing around the city’s Knowledge District.”