Walmart Outlines Policy Roadmap to Renew U.S. Manufacturing
July 26 2017 - 9:45AM
Business Wire
Proposes 10 policy actions to address major
barriers to U.S. manufacturing growth, help recapture an estimated
$300 billion in production of consumer goods, and create an
estimated 1.5 million U.S. jobs
Walmart today convened a broad group of individuals and
organizations representing government, business, and
non-governmental organizations from across the country to present a
Policy Roadmap to Renew U.S. Manufacturing. The meeting included a
bipartisan conversation about the current challenges and
opportunities in the U.S. manufacturing sector as well as case
studies of successful collaboration among key stakeholders.
“As we’ve worked over the last four years alongside our
suppliers toward our goal to source an additional $250 billion in
products that support American jobs, we’ve learned a great deal
about the challenges our suppliers face in domestic manufacturing,”
said Cindi Marsiglio, Walmart vice president for U.S. Sourcing and
Manufacturing. “The good news is we’ve also learned how to overcome
the challenges and, because of our experience, Walmart is uniquely
positioned to help facilitate broad engagement in accelerating the
expansion of U.S. manufacturing.”
According to analysis conducted by The Boston Consulting Group
(BCG), decreasing policy barriers to domestic manufacturing creates
an opportunity to recapture approximately $300 billion in consumer
goods that are currently imported, including furniture, cookware,
and sporting goods, potentially resulting in the creation of an
estimated 1.5 million American jobs. The analysis, which laid the
foundation for the policy roadmap, leveraged BCG’s expertise in
economic policy and manufacturing along with Walmart’s sourcing
data and included interviews with merchants, suppliers, and other
policy experts.
Walmart’s Policy Roadmap to Renew U.S. Manufacturing offers a
comprehensive approach to tackling the major barriers that keep
companies from manufacturing more consumer goods in the United
States. The roadmap identifies the highest impact policy barriers
as (1) workforce, (2) coordination and financing, (3) regulation,
and (4) tax and trade and proposes specific policies that have the
potential to effectively accelerate and grow U.S.
manufacturing.
“Enhancing US manufacturing is a top priority of mine,” said
U.S. Representative Tom Reed, who serves as co-chair of the House
Manufacturing Caucus. “Manufacturing is an advancing field where
new technologies will open doors to job creation and economic
growth. We must work together to remove barriers so that we are
more competitive and good paying jobs are once again created right
here in the United States.”
The roadmap details 10 concrete policy actions that can be taken
to address these barriers and goes a step further to suggest the
appropriate entities, including federal, state, and local
governments, manufacturers, and businesses, that must collaborate
on those policy actions to affect meaningful change that will
unlock greater growth and job creation in domestic manufacturing of
consumer goods.
“It’s important to note that there is no silver bullet that will
solve the problem on its own. The barriers to domestic
manufacturing are just too broad and too complex,” said Dustin
Burke, a partner in BCG’s manufacturing practice. “The purpose of
Walmart’s Policy Roadmap to Renew U.S. Manufacturing is to provide
a framework for collaboration among key stakeholders and highlight
10 actionable policy levers that, taken together, can help
strengthen U.S. manufacturing and significantly reduce long-term
unemployment.”
Last month, Walmart CEO Doug McMillon signaled the company’s
intention to pursue policy proposals that help create a favorable
climate for job creation in his remarks to more than 500 small- and
medium-sized companies that attended Walmart’s fourth annual Open
Call for U.S. products on June 28. “We are also committed to
participating as a leader in the country when it comes to policy,”
he said. “We believe that we should be one of the voices at the
table and we want to help renew U.S. manufacturing and drive the
creation of manufacturing jobs across the United States.”
According to data from its suppliers, approximately two-thirds
of Walmart U.S. merchandise spending is for items that are made,
assembled, sourced, or grown in the U.S. In 2013, Walmart committed
to sourcing an additional $250 billion over ten years on products
that support American jobs.
For more information on Walmart’s commitment to U.S.
manufacturing, visit www.walmart.com/americanjobs.
About WalmartWal-Mart Stores, Inc. (NYSE: WMT) helps
people around the world save money and live better - anytime and
anywhere - in retail stores, online, and through their mobile
devices. Each week, over 260 million customers and members visit
our 11,695 stores under 59 banners in 28 countries and e-commerce
websites in 11 countries. With fiscal year 2017 revenue of $485.9
billion, Walmart employs approximately 2.3 million associates
worldwide. Walmart continues to be a leader in sustainability,
corporate philanthropy and employment opportunity. Additional
information about Walmart can be found by visiting
http://corporate.walmart.com on Facebook at
http://facebook.com/walmart and on Twitter at
http://twitter.com/walmart.
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Wal-Mart Stores, Inc.Scott Markley,
1-800-331-0085news.walmart.com/reporter
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