Walmart Inc. (WMT) met with government and business leaders in Washington on Wednesday to unveil a plan to spur growth in domestic manufacturing efforts that company executives say will create an estimated 1.5 million new jobs in the United States.
The meeting included a discussion with key individuals on both sides of the aisle about the biggest challenges the U.S. manufacturing sector currently faces. Using an analysis by the Boston Consulting Group and Walmart sourcing data, the company crafted a 10-point plan to “recapture” an estimated $300 billion in imported consumer goods, stoking job growth in the process.
“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. “The good news is we’ve also learned how to overcome the challenges and, because of our experience, Walmart is uniquely positioned to help facilitate broad engagement in accelerating the expansion of U.S. manufacturing.”