Walmart Aids Onshoring Trend with $50 Billion Purchase Pledge
Walmart will spend over $50 billion on American goods over the next 10 years.
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The next toaster oven you buy from Walmart might have a "Made in the USA" sticker on it. Walmart announced on Friday a plan to buy an additional $50 billion of American-made products over the next 10 years, according to ApplianceMagazine.com.
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At the heart of our national political conversation today is one issue: creating jobs to grow the economy," said Bill Simon, Walmart U.S. President and CEO. "We are meeting with our suppliers on domestic manufacturing and are making a strong commitment to move this forward."
This pledge adds even more momentum to the "onshoring" trend, a small (for now) but significant return of manufacturing jobs to the U.S. after decades of movement overseas. Appliance production is a particularly bright spot—The Atlantic profiled the re-awakening of GE's Appliance Park in Kentucky as the centerpiece of a recent article about onshoring.
Walmart will meet with producers at a manufacturers' summit this summer, and plans to sign long-term purchase agreements with suppliers.
[via ApplianceMagazine.com]
Photo: brittanylynae, Flickr [CC-BY-3.0]