Walmart Announces $350 Billion Commitment to U.S. Manufacturing, Supporting More Than 750,000 American Jobs
March 03 2021 - 10:30AM
Business Wire
Walmart strengthens its commitment to U.S.
manufacturing with a $350-billion investment over the next 10 years
and announces the launch of “American Lighthouses,” a collaborative
program to better sustain manufacturing in strategic regions of the
country
Today, Walmart is announcing a strengthened commitment to
American jobs and communities, with a goal of investing $350
billion in the future of U.S. manufacturing over the next 10 years.
The retailer estimates that this spend will support more than
750,000 new American jobs.1
In 2013, Walmart made a commitment to invest $250 billion in
products made, grown, or assembled in America. Walmart is on track
to deliver on that commitment – and expand on it with today’s
announcement.
“U.S. manufacturing really matters,” said John Furner, President
& CEO, Walmart U.S., who made the announcement at Techtronic
Industries (TTI) in Anderson, S.C. “It matters to our suppliers, to
entrepreneurs and to the environment. It matters to our customers –
more than 85 percent of which have said it’s important for us to
carry products made or assembled in the U.S. And most of all,
because of the jobs it brings, it matters to American communities
and the people who live in them.”
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).
The impact of this commitment goes beyond products and jobs. It
could result in an estimated reduction of as much as 100M metric
tons of CO2 emissions avoided by sourcing closer to customers,2 as
well as an increase in spending with diverse suppliers based in the
U.S.
In addition, Walmart will launch a new concept called “American
Lighthouses,” with the goal of supporting U.S. 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 U.S. production. These Lighthouses will bring
together participants from the supplier community, including
manufacturers and NGOs, as well as others from academia,
government, and local economic development groups.
Walmart’s announcement drew bipartisan support from federal
officials who represent states that are home to Walmart
suppliers.
“It is an honor to have Walmart’s CEO John Furner launch the
company’s 10-year investment from TTI’s Anderson, South Carolina,
facility,” said U.S. Senator Tim Scott, a Republican from South
Carolina. “I am passionate about bolstering the American supply
chain and creating more high-paying jobs in South Carolina and for
folks all across the country. Congratulations and thank you to
Walmart for the great impact you will continue to make on our
nation’s economy.”
“I want to congratulate Walmart on increasing its commitment to
U.S. manufacturing,” said U.S. Senator Chris Coons, a Democrat from
Delaware, home to Zenith Home Corp./Maytex manufacturing.
“Zenith/Maytex manufactures and assembles home fashion products we
can see on store shelves in our local Walmart, and the company has
been able to strengthen its operations with help from the Delaware
Manufacturing Extension partnership. We’re proud that Zenith’s
story of investing in the U.S. is one today’s announcement aspires
to replicate across the country.”
About Walmart Walmart 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, approximately 220 million customers and members visit
approximately 10,500 stores and clubs under 48 banners in 24
countries and eCommerce websites. With fiscal year 2021 revenue of
$559 billion, Walmart employs over 2.2 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
corporate.walmart.com, on Facebook at facebook.com/walmart and on
Twitter at twitter.com/walmart.
1 Per Boston Consulting Group using data from the Economic
Policy Institute and Bureau of Labor statistics. 2 Calculated based
on total spend of $350B from FY21 – FY31. Sources: Environmental
Defense Fund, United Nations Conference on Trade and Development
(NCTAD). Boston Consulting Group analysis.
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