Daily Management Review

Walmart Too Joins The Investment Rounds In Home Market


05/22/2019


Creating new campus and jobs have become widespread in the U.S. market.



The largest retailer of the world, Walmart Inc is also the biggest employer in the private sector, which has disclosed its plans to construct “a new corporate campus”. This move comes in the footsteps of its rivals like “Amazon.com Inc and Apple” as they plan to expand their campus under pressure from the President Donald Trump for the U.S. companies to invest bigger amounts in local markets.
 
According to Reuters reports:
“The Bentonville, Ark. based-company is building a new headquarters in its hometown - a project it announced in September 2017 - that will spread over 300 acres and house its nearly 17,000 employees with room to accommodate more as it creates new jobs”.
 
The new campus has been designed to feature fitness centres, child care centres, a huge park, along with bike trails running through the campus heart. These are some of the attempts to implement “a modern aesthetic design”, informed the “executive vice-president of corporate affairs”, Dan Bartlett.
 
Moreover, the workplace will infuse the basic elements to turn retain the modern touch whereby introducing tall ceilings, “ample parking space”, numerous windows to let in natural light and “flexible open floor plans” which will boost collaboration besides offering privacy. In Bartlett’s words:
“We are striving to attract and retain the best talent in order to win the future of retail and the key component of that is the work environment that we are creating”.
 
As oppose to other rivals, Walmart has maintained a “relatively low key” status about its expansion plans. Likewise, in the September of 2017, with the announcements of building a “second headquarters”, Amazon had “captivated elected officials”, as it promised to create over fifty thousand jobs. Economic stimulus has triggered competition among states and cities while some of the states even offer “billions in potential tax credits”.
 
Similarly, Apple Inc also made an announcement to spend “$1 billion” in the construction of a “second campus in Austin, Texas,” which will hold nearly fifteen thousand workers. Under the “America First” policies introduced by President Trump, the Corporate America has feeling the pressure to invest more in the American market.
 
In fact, the U.S. companies will find more and more benefit to hype up investment as well as job creation in the U.S., for the ones shifting “jobs overseas” or “shuttered factories” have been subjected to Trump’s “sharp rebukes”, as the president seems to have “championed job creation”.
 
However, Bartlett did not reveal the investment amount involved in Walmart project, while it is still not clear as to the number of job that will be created thanks to Walmart’s new campus. He further informed that the “capital investment” will be spread across multiple years so as to not hurt any quarter’s finance plans. While, Bartlett added that for the saod project, Walmart did not get any “special packages or tax breaks that were out of the ordinary”.
 
He said:
“Our goal was not to extract things from the community”.
 
This project, informed Bartlett, was taken up by Walmart as its present headquarters are running in its hundred percent capacities; while in “Bentonville and Rogers, Arkansas”, the workforce remains divided in more than twenty buildings. The new buildings will sports solar panels on top of parking bays, along with “energy-efficient lighting, regionally sourced building materials, including mass timber construction - in addition to a connected campus design”.
 
The “McDonald’s Corp, Deloitte” among “large consumer product makers and others on the West Coast” have been the inspirational source for Walmart’s new headquarters’ design. In fact, the officials have also paid visit to “Stanford, the University of Texas and the University of Arkansas” campus. It is reported that the demolition will start this summer while the new campus is expected to be completed by the year of 2024.
 
 
References:
reuters.com







Science & Technology

Financial giants and US government turn to quantum computers

Long Way To Go For Coronavirus Vaccine, Say Drgumakers

Google's subsidiary launches recognition service for photoshopped images

Unapproved Drug For Coronavirus Treatment And Testing Given By Gilead Sciences

Live Facial Recognition Cameras Will Be Used By London Police

Driverless Vehicle For Its Ride-Sharing Service Unveiled By GM’s Cruise

Amazon will allow customers to pay with palms instead of cards

Complete Computer System For Self Driving Cars Launched By Qualcomm

In A Lifetime We Could Accumulate 20Kg Micro-Plastic In Our Body

Creator Of The First 'Gene-Edited' Babies Of The World Gets 3 Year Jail Term In China

World Politics

World & Politics

Ex-head of Mexican Pemex will be transferred to Madrid prison

China Releases First Detailed Study Of Coronaviurs Attack, Finds Elderly At Most Risk

EBA Finds Alarming Compliance Results For Gender Diversity Among Banks

Record high temperature observed in Antarctica

Venezuela to initiate international litigation against USA because of sanctions

Coronavirus Death Toll 204 In China, US Asks Americans Not To Go China

Hong Kong protesters block railway to mainland

Heavy rain kills 47 people in southeast Brazil