Walmart has presented a Policy Roadmap to Renew US Manufacturing in meeting with individuals and groups representing government, business, and non-governmental organisations from across the country. There was a discussion on the current challenges and opportunities in the manufacturing sector as well as case studies of collaboration among key stakeholders.
According to analysis conducted by The Boston Consulting Group (BCG), decreasing policy barriers to domestic manufacturing creates an opportunity to recapture approximately $300 billion in consumer goods that are currently imported, including furniture, cookware, and sporting goods, potentially resulting in the creation of an estimated 1.5 million American jobs. The analysis, which laid the foundation for the policy roadmap, leveraged BCG’s expertise in economic policy and manufacturing along with Walmart’s sourcing data and included interviews with merchants, suppliers, and other policy experts.
Walmart’s Policy Roadmap to Renew US Manufacturing offers a comprehensive approach to tackling the major barriers that keep companies from manufacturing more consumer goods in the United States. The roadmap identifies the highest impact policy barriers as workforce, coordination and financing, regulation, and tax and trade, and proposes specific policies that have the potential to effectively accelerate and grow US manufacturing.
The roadmap details ten concrete policy actions that can be taken to address these barriers and goes a step further to suggest the appropriate entities, including federal, state, and local governments, manufacturers, and businesses, that must collaborate on those policy actions to affect meaningful change that will unlock greater growth and job creation in domestic manufacturing of consumer goods.