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Walmart Announces the $10 million U.S. Manufacturing Innovation Fund

Friday, April 04, 2014  
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We have to make things in America again. Making things is part of who we are and part of who we must be -- and we can't afford to wait a minute longer.

That's why Walmart U.S. President and CEO Bill Simon recently joined 280 of the nation's mayors in Washington, D.C. to announce a new $10 million fund for innovation in American manufacturing.

Be sure to read Simon's speech here.

Bill Simon speaks



Here's how it works: The five-year program, funded by Walmart and the Walmart Foundation, will collaborate with the U.S. Conference of Mayors to identify and award leaders in manufacturing innovation and help us all work together to create opportunity.

If we want to grow manufacturing and help rebuild America's middle class, we need the brightest minds in our universities, in our think tanks, and in our towns to tackle obstacles to U.S. manufacturing. This new $10 million fund is just one part of our commitment to that challenge.

Last August, during Walmart's U.S. Manufacturing Summit we pledged to buy an additional $50 billion in U.S. made products over the next 10 years. We estimate that this pledge, in the 10th year, will result in Walmart buying an additional $250 billion cumulatively over the next 10 years. The Boston Consulting Group predicts that this investment will create one million jobs.

$10 million for innovative leaders. A $250 billion pledge to American manufacturers. One million new jobs. That's the real Walmart.

Sincerely,

Paul Gomez
Walmart Corporate Affairs



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