Walmart Inc. said Wednesday it will spend an additional $350 billion over the next 10 years on items made, grown or assembled in the U.S. The company estimates this spending will support 750,000 American jobs.
The new spending builds on the Bentonville-based retailer’s 2013 commitment to spend $250 billion on these products, said John Furner, president and chief executive of Walmart U.S.
"We're on track to deliver on this commitment, but we think we can do more," Furner said.
The $350 billion will focus on six categories: plastics; textiles; small electrical appliances; food processing; pharmaceutical and medical supplies; and Goods Not For Resale, defined as products and services for the company’s use.
Walmart is also introducing a concept it calls American Lighthouses, Furner said.
“We plan to unite key stakeholders in specific regions of the country to identify and overcome top-down barriers to U.S. production,” Furner said. “These Lighthouses will bring together participants from the supplier community ... as well as others from academia, government and local economic development groups.”
“By bringing together key regions and various stakeholders, we can make the supply chain more efficient,” Furner said. “The aim is to bring U.S. manufacturing back in a sustainable, long-term way.”