Details of Walmart’s Latest Investment Plan
Retail company Walmart has committed to investing a whopping $350 billion in purchasing products made, grown, or assembled in the US. The company plans to focus that investment on plastics, textiles, electrical appliances, food processing, and medical and pharmaceutical supplies.
This is the second time in less than ten years that the company made an investment in US business, with $250 billion being committed in 2013 for the exact same purpose. The newest investment is estimated to have several economic and environmental impacts as much of the recent focus from the US has been on creating jobs and lessening carbon emissions.
In fact, based on an economic study from a Boston Consulting Group, the move from the retail company could help create a whopping 750,000 jobs in the US. This could make a significant difference to US business and unemployment given the higher-than-normal jobless numbers following the slowed recovery from the COVID-19 pandemic. The investment would also allow for 9,000 small business owners to become Walmart suppliers and sellers through the Open Call events.
Environmentally, the business decision could make significant waves as well. With less need for international shipping from such a large business, Walmart could help avoid around 100 million metric tons of carbon emissions. This move would help the business take one step closer to reaching its lofty goal of being completely carbon neutral by 2040.
American Lighthouses Plan
The company also announced a new concept called American Lighthouses. American Lighthouses will bring together stakeholders from all over the US in order to break down the several barriers that have been keeping US manufacturing from reaching its full business potential. The group will be made up of members in the supplier business, academic fields, the government, and other local economic development groups.
Walmart’s latest move returns the company to its initial roots of being a US-made product seller. While the move may be a large expense, it also appears to be one that would be incredibly popular with its own consumers, with over 85% of those polled believing it is important to be stocking and selling US products.
About the Author
Tom Price is a writer focusing on entertainment and sports features. He has a degree from NYU in English with a minor in Creative Writing. He has been previously published for Washington Square News, Dignitas, CBR, and Numbers on the Boards.