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Walmart, Suppliers And Government Officials Accelerate Job Growth And Production Opportunities At U.S. Manufacturing Summit

Stocks in this article: WMT

GE Chairman and CEO Jeff Immelt said, "GE and Walmart understand how to bring together the best people and the best technologies to make the world work better. Today's announcement builds on the history of collaboration between GE and Walmart, and reinforces our belief that manufacturing is a competitive advantage, allowing U.S. companies to compete and win in every corner of the world."

Supplier Commitments:

During the summit, suppliers and manufacturers discussed opportunities to create jobs, restore communities and drive economic growth. Multiple companies announced domestic manufacturing investments, including the following:

  • GE is creating 150 jobs through a $30 million investment to produce domestically made GE Energy Efficient Soft White bulbs that will be sold exclusively at U.S.-based Walmart stores.
  • No nonsense ®, one of the most recognizable legwear brands in America, made by Kayser-Roth Corporation, announced today a sock initiative with Walmart that will add more than 100 new jobs at Kayser-Roth and additional jobs in local industries in North Carolina. No nonsense ® will be expanding its Made in the USA Program by investing up to $28 million in its existing production facilities located in North Carolina.
  • Element Electronics Corp. plans to open a new flat screen TV factory in Winnsboro, S.C. Production is scheduled to begin in December 2013 and the aggressive project will target up to 500 jobs.
  • Renfro, a North Carolina based, multi-national legwear company specializing in the design, manufacture and sale of all kinds of socks is expanding its capacities over the next two years in Cleveland, Tenn., and Fort Payne, Ala., by investing an additional $14 million and creating an additional 195 manufacturing jobs.
  • Chobani, maker of America's No. 1 selling Greek Yogurt, invested $450 million to open its Twin Falls, Idaho, plant last December. The plant employs more than 1,000 people and is the largest yogurt manufacturing facility in the world.
  • Hampton Products International has been analyzing re-shoring production over the last five years and recently invested $5 million in a new Shell Lake, Wis., facility to begin production of Wright Products ® screen and storm door hardware. The company plans additional capital investments in 2014 at that site that over time are expected to add an additional 150 jobs.

"Many of us want to move forward, but it can be difficult for any one retailer, supplier or local government to know where to start," concluded Simon. "At the summit, we are building a network of support for domestic manufacturing. In the room, we have the capital, the expertise, the ideas, and, most importantly, the will."

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