IBTimes... Mega-retailer Walmart reportedly joined business and government officials in Washington Wednesday to unveil a plan to boost growth in the domestic manufacturing sector. Company executives said the plan would generate an estimated 1.5 million jobs in the United States. Walmart proposed 10 policy plans to boost U.S. manufacturing jobs that the company claimed might "recapture" an estimated $300 billion of the $600 billion worth of imported consumer goods.
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Walmart’s "policy roadmap" proposal included building vocational schools, reducing costs for private companies to train workers, rebranding U.S. manufacturing to draw workers and increase demand for American-made products. Other proposals included creating flexible compliance guidelines for small businesses, broadening tax deductions to promote manufacturing investment and strengthening trade agreements.
The company claimed there was a lack of available and capable workers and proper financing to fund U.S. manufacturers prevented growth in the manufacturing sector. The world’s biggest retailer, which devoted efforts to sourcing $250 million worth of U.S. made products in 2013, claimed it identified those obstacles while working with suppliers during the past four years.
Cindi Marsiglio, Walmart's vice president of U.S. Sourcing and Manufacturing, talked about those challenges and how the company planned to spark job growth.
"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," Marsiglio told Fox Business Wednesday. "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."
Marsiglio's statement came during a time when President Donald Trump promised to boost job growth in the U.S. manufacturing sector. Earlier this month, the White House held its "Made in America" week, showcasing companies and products developed across America.
With the aid of an analysis by the Boston Consulting Group and Walmart sourcing data, Walmart claimed that every $100 billion retained domestically had potential to generate over 500,000 manufacturing jobs that could, in turn, create an extra 1.5 million jobs.
Walmart said that it discussed the proposals during a meeting with representatives of business, government and non-governmental organizations in Washington D.C.
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U.S. Representative Tom Reed (R-NY), co-chair of the House Manufacturing Caucus, cited the importance of the manufacturing sector and how technological advancement opened the door for economic growth.
"Enhancing US manufacturing is a top priority of mine," Reed told Fox Business. "Manufacturing is an advancing field where new technologies will open doors to job creation and economic growth."
He added, "We must work together to remove barriers so that we are more competitive and good paying jobs are once again created right here in the United States."
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No indication if consumer has been surveyed to find out: I would buy American if...