Wal-Mart Fund to Support U.S. Manufacturing

William S. Simon, CEO of Wal-Mart for the United States, said on Thursday at the U.S. Conference of Mayors that the company was providing a $10 million fund to promote American manufacturing in a push to sell more American-made products. The fund, to be distributed over five years, will award grants for new manufacturing processes and help to encourage such projects in this country, a company spokeswoman said. Early last year, Wal-Mart said it would increase sourcing of American-made products by $50 billion over a 10-year period, buying goods already made here and helping vendors bring production back from overseas.