By Michael Dabaie

 

Walmart said it aims to invest $350 billion in the future of U.S. manufacturing over the next 10 years.

The retailer said it estimates this spending will support more than 750,000 new U.S. jobs.

Walmart said that in 2013 it committed to invest $250 billion in products made, grown, or assembled in the U.S. The retailer said it is on track to deliver on that commitment and expand on it with Wednesday's announcement.

The company said it 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, such as equipment, fixtures and construction materials.

Walmart will launch a new concept called "American Lighthouses" with the goal of supporting U.S. manufacturing. The retailer plans to bring together key stakeholders in specific regions of the country to look at barriers to U.S. production.

These will bring together participants from the supplier community, including manufacturers and NGOs, as well as others from academia, government and local economic development groups.

 

Write to Michael Dabaie at michael.dabaie@wsj.com

 

(END) Dow Jones Newswires

March 03, 2021 11:32 ET (16:32 GMT)

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