BENTONVILLE, Ark .– (BUSINESS WIRE) – Today, Walmart is announcing 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 spending will support more than 750,000 new American jobs.1
In 2013, Walmart committed to investing $ 250 billion in products made, grown or assembled in America. Walmart is on track to fulfill that commitment – and expand it with today’s announcement.
“Manufacturing in the United States really matters,” said John Furner, president and CEO of Walmart US, which made the announcement at Techtronic Industries (TTI) in Anderson, SC. “It is important for our suppliers, entrepreneurs and the environment. It matters to our customers – more than 85 percent of whom say it is important for us to transport products made or assembled in the United States. And above all, because of the jobs it brings, it is important for American communities and the people who live in them. they.”
Walmart identified six priority categories on which to focus its investments: 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. This can result in an estimated reduction of up to 100 million metric tons of COtwo emissions avoided by supply closer to customerstwo as well as an increase in spending on several US-based suppliers
In addition, Walmart will launch a new concept called “American Lighthouses”, with the objective of supporting manufacturing in the United States in a sustainable and long-term manner. The retailer plans to bring together 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 representing the states that host Walmart suppliers.
“It is an honor to have Walmart CEO John Furner launch the company’s 10-year investment from TTI’s Anderson, South Carolina facility,” said US Senator Tim Scott, a Republican from South Carolina. ” I am passionate about strengthening the American supply chain and creating better-paying jobs in South Carolina and for people across the country. Congratulations and thanks to Walmart for the great impact you will continue to have on our country’s economy. ”
“I want to congratulate Walmart for increasing its commitment to manufacturing in the United States,” said US Senator Chris Coons, a Delaware Democrat, home of Zenith Home Corp./Maytex Manufacturing. “Zenith / Maytex manufactures and assembles home fashion products that we can see on store shelves at our local Walmart, and the company has been able to strengthen its operations with the help of the Delaware Manufacturing Extension partnership. We are proud that Zenith’s history of investing in the United States is an announcement that today it aspires to replicate across the country. ”
About Walmart
Walmart Inc. (NYSE: WMT) helps people around the world to save money and live better – anytime, anywhere – in retail stores, online and via 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 e-commerce sites. With fiscal year 2021 revenue of $ 559 billion, Walmart employs more than 2.2 million associates worldwide. Walmart continues to be a leader in sustainability, corporate philanthropy and employment opportunities. Additional information about Walmart can be found at corporate.walmart.com, on Facebook at facebook.com/walmart and on Twitter at twitter.com/walmart.
1 By Boston Consulting Group using data from the Economic Policy Institute and Bureau of Labor statistics.
two Calculated based on the total $ 350B spend of FY21 – FY31. Sources: Environmental Defense Fund, United Nations Conference on Trade and Development (NCTAD). Boston Consulting Group Review.