Walmart $10 million fund to spur on U.S. manufacturing & suppliers

Walmart $10 million fund

January 23rd Wal-Mart announced it has created a $10 million fund. This is to support manufacturing in the United States offering grants to innovators in U.S. manufacturing.

The company’s long-time suppliers are returning production to the United States, as rising wages in China and other offshore production less profitable.   Kent International, a New Jersey-based bicycle manufacturer, announced with Wal-Mart on Thursday that it will move its production to Clarendon, South Carolina, and create 175 new jobs and assemble 500,000 bicycles annually by 2016.

Wal-Mart is the largest private employer in the world and employs around 1.3 million people in the United States.

http://www.reuters.com/article/2014/01/23/us-usa-walmart-jobs-idUSBREA0M1AD20140123

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