On Thursday, Wal-Mart Stores Inc said it would be announcing three new manufacturing commitments in a special economic event in the US. The commitments were reportedly for products that would be made in the US. No other pertinent details were disclosed.
According to a Reuters report, the move was one of the giant retailer's USD50 billion investment in the US economy. The investment would go towards US-made products over the next ten years.
Wal-Mart's announcement would be done jointly by Wal-Mart US president and and chief executive officer Bill Simon and US Commerce Secretary Penny Pritzker. They will be making the announcement at SelectUSA. SelectUSA is an event focused on promoting investment and job creation in the US. The event would also have President Barack Obama and other top government officials as guest speakers.
American newspaper columnist George Will claimed Wal-Mart helped create 50 new jobs. Will also said an annual combined savings of USD200 billion by shopping at Wal-Mart could singlehandedly provide more help to the American people than government food stamps and earned income tax credit combined.
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