Walmart Inc (Walmart) has pledged to support U.S. manufacturers by spending an additional $350 billion over the next 10 years on goods made, assembled or cultivated in the United States.
Walmart U.S. CEO John Furner said in a blog posting on the 2nd that the move will help create more than 750,000 U.S. jobs. The company will focus on investing in plastics, small appliances, Food processing, pharmaceuticals and medical supplies.
Furner said the investments will also reduce emissions by about 100 million tons by sourcing closer to customers locally, part of the company’s commitment to achieve carbon neutrality by 2040.
The world’s largest retailer, which in 2013 pledged to invest $250 billion in U.S.-made products, has said it sources about two-thirds of the goods it sells in the United States. Walmart’s new investment averages $35 billion a year, compared to the $420 billion the supermarket chain spent on goods sold last year.