Last week, Walmart U.S. President and CEO Bill Simon emphasized the importance of U.S. manufacturing at the company’s Year Beginning Meeting in Orlando. He reminded the audience that Walmart now has pledged to spend $250 billion on U.S. products over the next 10 years. The Boston Consulting Group estimates this commitment will create 1 million jobs. At the meeting, Simon announced that Walmart will be putting its patio furniture out for bid and is looking for U.S. manufacturers.
Walmart, along with the Walmart Foundation and the U.S. Conference of Mayors, also announced last week the launch of a $10 million Walmart U.S. Manufacturing Innovation Fund. The company said the fund will provide grants of $100,000 or more to non-profit organizations with innovative ideas for the production of textiles and “common manufacturing processes that apply to a broad range of consumer goods, including small motor manufacturing and tooling for injection molding.” Applications for the grants are due April 22, 2014.
More about Walmart’s drive to support US manufacturers on IndustryWeek.