Governor Maura Healey's administration had teed up the $14 million in tax credits for Hasbro, through the state's Economic Development Incentive Program. The Economic Assistance Coordinating Council voted to approve that award on Wednesday.

Among the other winners were Voya Financial, which was awarded $3.3 million for opening its first Boston office and bringing 220 jobs there, and tech manufacturer Entegris, which was awarded $3.5 million as it embarks on a $100 million expansion of its Billerica headquarters and adding 200 jobs there.

Hasbro's sublease will last for 11.5 years, but it also has the opportunity for two 10-year extensions.

"This is a big change for Hasbro," Ethan Colaice, a vice president who heads up corporate real estate for Hasbro, told the council. "You don't take a decision to go somewhere after 100 years very lightly. This is something that we've contemplated for a while and we do believe that this is the right time for us to be making the move to Massachusetts."

Peter Milano, director of strategy and business development for the Healey administration's economic affairs office, said headquarters operations of major companies can serve as an anchor for high-wage jobs as well as revenue for suppliers, vendors, hotels, and nearby restaurants and stores. Hasbro's move, Milano told the council, also strengthens the state's reputation as a hub for innovation and creative consumer industries.

Michael Benak, a lawyer with McCarter & English who represents Hasbro, said Rhode Island officials made a big push to keep Hasbro there, including $50 million in incentives such as grants and tax breaks as well as additional parcels.

"It was not an easy decision," Benak said on behalf of the century-old company.

"We do feel that accessing the talent-rich environment in Massachusetts is going to be really beneficial for us," Hasbro's Colaice said. "Our first 100 years appear to be coming to an end. We're really excited about the next 100 being in Massachusetts."

Mass. economic council approves $14 million in tax credits for Hasbro's move from R.I. - The Boston Globe