Calling All Inventors: Walmart Launching Program for New Products

Retail giant has promised to spend an additional $250 billion over the next decade on American products.
2:16 | 07/08/14

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Transcript for Calling All Inventors: Walmart Launching Program for New Products
And now to Walmart and a big made in America headline. Tonight the largest retailer in the country makes news about its promise to spend billions of dollars supporting home grown companies and American jobs. And some of your neighbors may have inventions that might win the prize. ABC's chief business correspondent Rebecca Jarvis tells us about it. Reporter: For these American inventors, today is the chance of a lifetime. Their big ideas could be the next million dollar must-have product for sale on Walmart shelves. Joe Ertel from Iowa and his grandson with their family made toy trucks. Marcia martin from Little Rock selling these personalized baby shower gifts. Here comes trouble. Reporter: They're all here as part of that new promise from Walmart, to spend $250 billion over the next decade on american-made products for their stores. Economists estimating that could create 1 million new jobs in the U.S. They know this is not a pr thing, it is an economic thingment for the first time in over a generation the economics are making sense to these in the U.S. Reporter: After a year of declining sales they know it's good for business. For three years on "World news," the made in America team has been introducing us to inventors around the country. Remember last fall, David Muir took us inside Walmart's headquarters as American inventors pitched their gadgets to buyers. This year it's supersized. And speaking to Walmart today, the governor of Arkansas where Walmart's headquarters are based reminded them. I watched a clip, ABC news, as you all know. Reporter: He was watching maze nails from Peru, Illinois, that nail company tonight -- Thank you for choosing American nails. Made right here in Illinois. Reporter: And now the Jarratt family. My name is Hugh Jarratt. I'm Nicole Jarratt. Reporter: Hoping you'll buy their invention too. This taco plate that'll keep your tacos from spilling. There's a lot of people who are going to say, why didn't I think of that? What do you say to them? Well, I'm glad you didn't. Or we wouldn't be standing here. Reporter: We're there for the pitch and walmawalmart's order, 1 million plates. Rebecca Jarvis, ABC news, bentonville, Arkansas.

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