Bloomberg Businessweek Podcast Summary

Episode: Faribault Mill's Commitment to American Manufacturing
Date: October 22, 2025
Hosts: Carol Massar & Tim Stenovec
Guest: Ross Widmoyer, President & CEO, Faribault Mill

Overview

This episode spotlights Faribault Mill, a Minnesota-based textile manufacturer with a 160-year legacy of making products in the USA. Hosted by Carol Massar and Tim Stenovec, the conversation with CEO Ross Widmoyer delves into Faribault’s sustained growth, manufacturing innovation, commitment to American jobs, and the broader context of “Made in USA” in today’s political and economic climate.

Key Discussion Points & Insights

1. The State of US Manufacturing

• Discussion of Manufacturing as a National Theme
  • The resurgence of domestic manufacturing is a key issue for both policymakers and investors in 2025. The Biden administration (later noted as Trump’s White House as well) has prioritized bringing manufacturing back to the US and supporting companies committed to domestic production.
    (01:44–02:00)
• Global Uncertainty & Tariffs
  • Economic volatility, changing tariffs, and shifting trade flows continue to inject uncertainty, especially important for consumer-facing manufacturing as the holiday shopping season approaches.
    (02:42–03:50)

2. Faribault’s Growth & Adaptation

• Resilience Amid Uncertainty
  • Ross Widmoyer highlights that, while other manufacturers face challenges, Faribault is experiencing ongoing stability and optimism, due to modernizing investments and a reliable business model.

  “It’s been business as usual…for our company and our employees, even while for many manufacturers it's been anything but.”
  — Ross Widmoyer (02:56)

• Record Growth & Product Expansion
  • Faribault has enjoyed four consecutive years of record revenue and has launched over 100 new products, thanks in part to investments in modernization and a focus on unique, “Made in America” craftsmanship.

  “We were doing Made in America before Made in America was cool.”
  — Ross Widmoyer (04:07)

• Modernizing Without Reducing Jobs
  • Unlike automation that replaces workers, Faribault’s technological upgrades have increased both productivity and employment.

  “Automation’s often a dirty word…we’re doing anything but that. We’re continuing to grow employment.”
  — Ross Widmoyer (05:20)

3. Pricing, Wages, and Consumer Focus

• Permanent Price Reductions
  • Faribault has been able to permanently lower its prices, a rarity in manufacturing, while simultaneously raising worker wages. This was achieved through strategic investments in high-tech, high-speed equipment.

  “We’ve been lowering prices while others are raising prices…all the while raising wages here with our workers in Minnesota.”
  — Ross Widmoyer (05:20)

  • The company’s ethos is to pass cost-savings to consumers rather than pocketing them:

  “Rather than pocket all of that gain, we wanted to pass it on to our consumers because we know they’re getting pinched…”
  — Ross Widmoyer (06:19)

4. Sales Channels & Business Model Evolution

• Shift to Direct-to-Consumer (DTC)
  • Faribault has pivoted from primarily contract manufacturing to an agile, DTC and partnership-based model, driving recent growth.

  “We’ve really…made a strategic pivot…into more of a short-run, nimble, customizable, direct-to-consumer marketer and merchandiser.”
  — Ross Widmoyer (06:46)

• Strategic Partnerships & Military Contracts
  • Collaborations with brands like Coach and Supreme, plus longstanding contracts supplying blankets to the US military (recently expanded to both Army and Navy), help balance revenue streams.
  • DTC is the biggest contributor to revenue growth.

  “Newness is the lifeblood of any consumer product company…we have a lot of unique product.”
  — Ross Widmoyer (07:50)

5. Competing on Cost, Quality, and Flexibility

• Manufacturing in the US: Challenges and Shifting Dynamics
  • Historically, higher costs of US manufacturing—especially labor—were offset by quality and flexibility. Tariffs have narrowed cost differences with overseas competitors.

  “With tariffs in place, that cost gap has shrunk…we think we can win on all three aspects: cost, quality, and flexibility.”
  — Ross Widmoyer (08:50)

6. Workforce Development: The Key Bottleneck

• Skilled Labor Shortage
  • The most significant challenge: finding and training workers for advanced manufacturing jobs.

  “The number one issue…is finding not only workers…but a skilled workforce that can do the type of work we need them to do.”
  — Ross Widmoyer (10:23)

• Education & Apprenticeship
  • Emphasizes the need for vocational education, starting as early as middle and high school. College degrees are not a prerequisite; mechanical aptitude and willingness to learn matter most.

  “It’s an apprenticeship business…we need people with mechanical aptitude who are willing to work, who are willing to learn, who are curious.”
  — Ross Widmoyer (11:07 & 11:21)

7. Sustainability of the “Made in USA” Movement

• Can US Manufacturing Scale Further?
  • Ross is optimistic but realistic about the limits and challenges—especially the need for more skilled workers and ongoing technological investment.

  “Workers coupled with state of the art technology…that’s kind of the secret sauce, and that’s what we have to figure out as a country.”
  — Ross Widmoyer (11:58)

Notable Quotes & Memorable Moments

• On Being Ahead of the Trend:

  “We were doing Made in America before Made in America was cool.”
  — Ross Widmoyer (04:07)

• On Price-Lowering in Inflationary Times:

  “We’ve been lowering prices while others are raising prices…all the while raising wages here.”
  — Ross Widmoyer (05:20)

• On Training Instead of Credentials:

  “If you post on Indeed for a weave technician, you’re gonna be sitting by your computer a long time waiting for people to fill that out with experience. So we train people. It’s an apprenticeship business.”
  — Ross Widmoyer (11:07)

• On the Future of US Manufacturing:

  “It’s not going to be as easy as maybe it’s sometimes made out to be in the media. But those of us who are doing it are working at it really hard and we’re working at it with like-minded companies as well…”
  — Ross Widmoyer (11:58)

Timestamps for Key Segments

• 01:44 – 02:00: Manufacturing in the US as a political and economic focus
• 02:42 – 03:50: Faribault’s recent business climate and optimism despite uncertainty
• 04:07: The reality and legacy of “Made in USA”
• 05:20: Investing in automation without layoffs and lowering prices
• 06:46 – 07:50: The DTC pivot and unique product strategy
• 08:50: Challenges competing with global manufacturers
• 10:23 – 11:37: Workforce and vocational education needs
• 11:55 – 12:39: Sustainability and scaling issues for US manufacturing

Summary Takeaways

• Faribault Mill is thriving via a return to American manufacturing roots, thoughtful innovation, and investment in workers and automation that augments (rather than replaces) jobs.
• The company’s business model proves that US-based manufacturing is possible—if paired with modernization, unique products, and a multi-channel approach.
• The most significant barrier is a shortage of skilled workers, not in the sense of needing degrees but in terms of mechanical and adaptive skills, highlighting a national need for revitalized vocational training.
• The future of “Made in USA” is promising but depends on a balanced partnership between technology, smart workforce development, and realistic scaling strategies in manufacturing.