The money will go towards manufacturing facilities in the U.S. to support an estimated 750,000 new American jobs with a focus on plastics, textiles, small electrical appliances, food processing, pharmaceutical and medical supplies and goods not for resale.
Shares of Walmart were falling 1.38% to $128.31 on Wednesday at last check.
"In 2013, 20 years after I started at Walmart, we made a bold commitment to invest $250 billion in products made, grown or assembled in America," Walmart CEO John Furner said in a blog post Wednesday.
"We wanted to bring great new products to our customers that are sourced locally, and we wanted to support more jobs in the U.S. We’re on track to deliver on this commitment, but we think we can do more," he continued.
Walmart says the investment includes plans to avoid 100 million metric tons of carbon dioxide emissions by sourcing manufacturing locally while also providing an opportunity for 9,000 entrepreneurs to become Walmart suppliers and sellers through the company's annual Open Call events.
The Bentonville, Ark. company also announced plans to launch a program called "American Lighthouses" to bring together thought leaders from academia, government and local economic development groups to "identify and overcome top-down barriers to U.S. production."
The company says that more than 85% of its customers have said that it's important for Walmart to carry products made or assembled in the U.S.