HOUSE MINORITY LEADER CHIPPENDALE OFFERS STATEMENT ON THE LOSS OF RHODE ISLAND LEGACY COMPANY, HASBRO

State House, Providence – Rhode Island House Minority Leader Michael Chippendale offers the following statement in regard to the loss of Hasbro to Massachusetts:

“Once again, Rhode Island is left watching a major legacy company leave our state despite costly efforts to lure and retain businesses with taxpayer-funded incentive packages. This cycle repeats itself because our leaders fail to focus on improving our dismal, bottom-ranking business climate. Instead, we continue to try to compete in niche sector arenas where we cannot win against our larger neighbors, like Massachusetts.

We must stop chasing corporations with taxpayer-funded giveaways, focus on correcting what is driving this exodus, and improve our business climate for those that have invested in our state.  Good jobs for our residents and building a solid tax base depends on thoughtful action now. It requires leaders willing to change the status quo -- that will fight for reform, not just talk about it while clutching their pearls.

It is time that Rhode Island accepts the reality of our geography. Our strength is on the water. With a world-class deep-water port at Quonset, our naval heritage, and a growing defense and shipbuilding sector, we have assets that cannot be replicated elsewhere in New England. We should focus our strategy and investment on strengthening Rhode Island’s role in maritime commerce, naval research, and defense manufacturing. That is how we create lasting jobs, expand our tax base, and build an economy that plays to our strengths.”