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Walmart commits $350 bn to US manufacturing in next 10 years
05 Mar '21
2 min read
Pic: Shutterstock
Walmart recently announced a strengthened commitment to American jobs and communities, with a goal of investing $350 billion in the future of US manufacturing over the next 10 years. The retailer estimates that this will support more than 750,000 new American jobs. In 2013, it made a commitment to invest $250 billion in products made, grown or assembled in the United States.
John Furner, president and chief executive officer of Walmart US, made the announcement at Techtronic Industries (TTI) in Anderson, South Carolina.
“It matters to our suppliers, to entrepreneurs and to the environment. It matters to our customers – more than 85 per cent of which have said it is important for us to carry products made or assembled in the US. And most of all, because of the jobs it brings, it matters to American communities and the people who live in them,” he was quoted as saying in a company press release.
Walmart has identified six priority categories on which to focus its investment: textiles; plastics; small electrical appliances; food processing; pharmaceutical and medical supplies; and goods not for resale (GNFR).
In addition, Walmart will launch a new concept called ‘American Lighthouses’, with the goal of supporting US manufacturing in a sustainable, long-term way. The retailer plans to unite key stakeholders in specific regions of the country to identify and overcome barriers to US production.
These Lighthouses will bring together participants from the supplier community, including manufacturers and non-governmental organisations, as well as others from academia, government and local economic development groups.
John Furner, president and chief executive officer of Walmart US, made the announcement at Techtronic Industries (TTI) in Anderson, South Carolina.
“It matters to our suppliers, to entrepreneurs and to the environment. It matters to our customers – more than 85 per cent of which have said it is important for us to carry products made or assembled in the US. And most of all, because of the jobs it brings, it matters to American communities and the people who live in them,” he was quoted as saying in a company press release.
Walmart has identified six priority categories on which to focus its investment: textiles; plastics; small electrical appliances; food processing; pharmaceutical and medical supplies; and goods not for resale (GNFR).
In addition, Walmart will launch a new concept called ‘American Lighthouses’, with the goal of supporting US manufacturing in a sustainable, long-term way. The retailer plans to unite key stakeholders in specific regions of the country to identify and overcome barriers to US production.
These Lighthouses will bring together participants from the supplier community, including manufacturers and non-governmental organisations, as well as others from academia, government and local economic development groups.
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