US: Walmart ramps up efforts to boost domestic production
Retail giant Walmart is ramping up its efforts to boost domestic manufacturing with the launch of an innovation fund to find solutions to challenges linked to reshoring and growing US production.
The Walmart US Manufacturing Innovation Fund, launched alongside the Walmart Foundation and the US Conference of Mayors, will be open to non-profit organisations to apply for grants of US$100,000 or more, funded by Walmart Foundations.
In its first year, the fund will focus on innovation in textiles manufacturing and processes applying to a broad range of consumer goods.
Research and academic institutions, think tanks and other non-profit organisations are anticipated to be among those taking part.
“Through the Walmart US Manufacturing Innovation Fund, we hope to help remove the barriers to revitalising and growing US manufacturing, creating jobs and building a stronger American economy,” said Cindi Marsiglio, vice president US sourcing and domestic manufacturing at Walmart.
“This is part of Walmart and the Walmart Foundation’s broader commitment to foster new ideas and jobs to promote strong communities and grow America’s manufacturing footprint.”
Part of Walmart’s commitment to buy an additional $250bn in products supporting American manufacturing, the fund will be open to applications until 22 April.
The retail giant early last year outlined its commitment to increase the amount of products - including apparel - it sources from the US.
Most recently it revealed it would source footwear from a new factory in the US as part of the company's commitment to buy an extra US$50bn in US-made products over the next ten years.
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