Wal-Mart Stores Inc. is hoping for a groundswell "made-in-America" movement.
The world's largest retailer is hosting its first two-day summit starting Thursday bringing together retailers, suppliers and government officials that it hopes will build on its recent commitment to drive more manufacturing in the U.S.
The event, which is expected to draw more than 1,500 people, is occurring seven months after the Bentonville-based discounter pledged that it planned to buy $50 billion more U.S. made goods over the next decade. That's the equivalent of just more than 10 percent of what Wal-Mart will sell at retail this year.
But Wal-Mart has said that if other merchants try to do the same, that would mean an additional $500 billion in American-made goods over the next decade.
Wal-Mart's CEO Mike Duke, Bill Simon, the company's U.S division CEO and other executives are joining other business leaders including Jeff Immelt, chairman and CEO of General Electric Corp., and Kevin Toomey, president and CEO of the Kayser-Roth Corp. There will also be governors of eight states.