Around 500 supplier companies, 32 state governments and major retailers have gathered at the Walmart US Manufacturing Summit to commit an investment of up to $70m into factory growth and add more than 1,000 domestic jobs.

The National Retail Federation (NRF) has collaborated with the American retailer to host the event and promote the initiative among the members.

Walmart US president and CEO Bill Simon stated that jump-starting the manufacturing industry and rebuilding the middle class requires a national effort by companies, industry leaders, lawmakers and others.

"Together, we can help spark a revitalization of U.S.-based manufacturing, using new technology and new innovations to make production in the United States affordable and feasible," Simon noted.

Earlier in January 2013, Walmart agreed to purchase an additional $50bn US-made products over the next decade.

During the summit held at the Orlando Convention Center, suppliers and manufacturers discussed opportunities to create jobs, restore communities and drive economic growth.

GE has agreed to invest $30m for domestic manufacture of its soft white bulbs to be sold exclusively at US-based Walmart stores.

No nonsense will expand its Made in the USA Program with around $28m investment in its North Carolina production facilities.

Other companies, including Element Electronics, Renfro, Hampton Products International and Chobani, have also announced plans to boost country’s factory growth by investing in their respective US production facilities.

US Secretary of Commerce Penny Pritzker remarked, "I applaud Walmart for convening this summit and all of the participating companies for the commitment they’ve made to expand their manufacturing activities in our country. A summit like this one, which brings multiple organizations from the public and private sectors together, is exactly the type of cooperation that’s needed to grow businesses, create jobs and keep America competitive."