Walmart, in cooperation with the Walmart Foundation and the United States Conference of Mayors (USCM), has unveiled the Walmart U.S. Manufacturing Innovation Fund. Open to non-profit organizations, the new program will provide grants of $100,000 or more to help address challenges related to onshoring and improving U.S. manufacturing. Anticipated recipients include research and academic institutions, think tanks and other non-profit entities focused on manufacturing innovations.
The Walmart U.S. Manufacturing Innovation Fund is designed to help accelerate growth in the U.S. manufacturing industry, while also creating jobs in the U.S. The Boston Consulting Group estimated the initiative will add one million jobs nationwide, according to a press statement. Although the fund was established to help develop solutions for the entire manufacturing industry, the first year will focus on textiles and manufacturing processes used to produce consumer goods.
“Through the Walmart U.S. Manufacturing Innovation Fund, we hope to help remove the barriers to revitalizing and growing U.S. manufacturing, creating jobs and building a stronger American economy,” said Cindi Marsiglio, VP of U.S. Sourcing and Domestic Manufacturing for Walmart. “This is part of Walmart and the Walmart Foundation’s broader commitment to foster new ideas and jobs to promote strong communities and grow America’s manufacturing footprint.”
To apply for a grant, applicants will need to be sponsored by a mayor of a USCM member city. Applications are due April 22, 2014.