Big companies are investing in Boston, but is it resulting in more jobs?

The shaving products company Gillette is staying in Boston, announcing plans to invest $1 billion to build a new headquarters. The company is building an innovation center at 232 A Street, adjacent to the existing campus in South Boston.

Gillette is the latest business to invest in Massachusetts.

Last year, LEGO moved its U.S. headquarters to Boston, and after more than 100 years in Rhode Island, Hasbro announced it would follow suit. The toy company is planning to have its headquarters moved to Boston by the end of the year.  

But are these moves resulting in more jobs for people in Massachusetts?

WBZ-TV's partners at the Boston Business Journal reported that Massachusetts was one of four states to lose private sector jobs since the pandemic.

Citing data from the Pioneer Institute, the BBJ found that Massachusetts had lost roughly 24,000 jobs between January 2020 and March 2025. Compare that to other states like North Carolina who added 255,000 jobs in that same time frame.

"I think there are some positives, and then there are also some things we should definitely be concerned about," said Doug Banks, executive editor of the Boston Business Journal.

While he called the news from Gillette a win for the state, he pointed out the types of jobs these companies are bringing in are high-skill, high paying ones. While companies like Cape Cod potato chips have moved their manufacturing operations out of state and taken those jobs with them.

"Companies recognize that we have talent that far exceeds many, many other states," Banks said. "But we should definitely not be complacent. Places like the research triangle in North Carolina, Austin, Texas, and other parts of the country are absolutely trying to catch up to us and they will eventually eat our lunch if we're not careful."