An unlikely company is taking action to strengthen the U.S. manufacturing industry.
Earlier this month, Walmart — the world’s largest company by annual revenue — announced plans to spur growth in the U.S. manufacturing industry. The plan proposes 10 policy actions that will help the country generate an additional $300 billion in manufactured consumer products. Aside from the additional revenue, the plan would also create an additional 1.5 million jobs in the United States.
Based in Bentonville, Arkansas, Walmart is a global retaining company that operates a large chain of department stores, grocery stores and hypermarkets. It was founded in 1962 by Sam Walton, and later incorporated in 1969. Currently, Walmart operates with more than 11,000 stores in more than three dozen countries. In the United States and Canada, it operates under the name “Walmart.” However, it operates under different names in other countries. Walmart is also the owner of Sam’s Club stores.
According to a report by Fortune Global 500, Walmart is the largest company by revenue at $480 billion. Additionally, it’s also the largest employer in the world, with more than 2.3 million workers under its employment. Furthermore, statistic show that Walmart is one of the most valuable companies in the world, and it’s the largest grocery store in the United States.
So, how does Walmart plan to use its power to strengthen the U.S. manufacturing industry? In a press release, Walmart unveiled what it’s calling the “Roadmap to Renew U.S. Manufacturing.” News of this roadmap came shortly after the retailing giant announced the creation of a new facility distribution center in Alabama, which it says will create hundreds of new jobs. Basically, the new plans seeks to overcome traditional challenges that prevent companies from manufacturing products in the Unites States. Walmart’s Roadmap to Renew U.S. Manufacturing tackles four key areas in this regard: workforce, coordination and financing, regulation, and tax and trade policies.
“As we’ve worked over the last four years alongside our suppliers toward our goal to source an additional $250 billion in products that support American jobs, we’ve learned a great deal about the challenges our suppliers face in domestic manufacturing,” said Cindi Marsiglio, Walmart vice president for U.S. Sourcing and Manufacturing, in a press release.
You can learn more about Walmart’s Roadmap to Renew U.S. Manufacturing by clicking here.
What do you think of Walmart’s plan to renew U.S. manufacturing?
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