Faribault Mill's Commitment to American Manufacturing

Summary

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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

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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.

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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)

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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)

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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

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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.

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Transcript

[Host 1]

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[Host 1]

Bloomberg Audio Studios podcasts radio news.

[Ross Widmoyer]

You're listening to Bloomberg Businessweek with Carol Massar and Tim Stanvak on Bloomberg Radio.

[Host 1]

We talk about this a lot. Manufacturing in the US I should say the president in the White House talks.

[Host 2]

About it a lot and the importance of just really 100% manufacturing. They've targeted big tech companies who still have manufacturing elsewhere and they really just want to be everything 100% made in the USA.

[Host 1]

Yeah. And there's been a lot of like attracting investments into the US is certainly a big theme here in 2025. So our trade deals, changing global flows top of mind for investors. Which is why it's kind of a great time to check in with our next guest. Whose company does manufacturing. The United States has been doing so for 160 years. Is a great read to on the US economy, US business and also consumers. So it's nice to have back with Ross Widmoyer. He is president and CEO of Faribault Mill. He also held a senior merchandising roles or several I should say, at Target and he joins us from Minnesota. Ross, good to have you back with us. How are you?

[Ross Widmoyer]

I'm well. Thanks for having me on today so.

[Host 1]

You know, I was thinking about this, we were thinking about this and getting ready for you to join us. I think we talked in July. Tell us about the past few months. What's changed in terms of process, strategy, outlook, and really your outlook too on the US Economy?

[Ross Widmoyer]

Yeah, I would say a couple of things on that front. Number one, you know, for us as a US Manufacturer, it's been business as usual and I think other manufacturers I've talked to, not only here in Minnesota, but around the country, it's been anything but business as usual. So, you know, from that standpoint, it's, it's, it's been a good thing for our company, it's been a good thing for our employees. You know, I think the other piece I would add to that is, you know, with all of the noise around tariffs and what that's going to mean not only for manufacturers and consumer products, but also for the consumer, there's a lot of noise and I think it's caused a bit of a, an undercurrent of economic uncertainty which heading into the holiday season, you know, can be a little bit scary for those of us who are in the retail business, particularly a fourth quarter driven retail business. But we're still, despite all that, really optimistic about, about the upcoming holiday season.

[Host 2]

Your company has reported record revenue growth for around four consecutive years and launched over 100 new products. What's driving that momentum and what lessons do you wish to parlay to those who are saying that it's impossible for things to be 100% made in the USA?

[Ross Widmoyer]

Yeah, well, you know, I wouldn't say it's impossible because we've been doing it for 160 years here in Minnesota. And you know, we have a proven product. We've been perfecting our, our wool and cotton blankets that we, we make here in Minnesota, also in Maine, I should say, over that course of time. So, you know, Made in America is, we were doing Made in America before Made in America was cool. But I would say that they're really, with, with a newfound investment in American manufacturing, you're developing the workforce, reinvigorated a plant like we did here in Minnesota. We put a multiple million dollar effort and investment into our mill here in the States with new equipment to help modernize us and get us not only out of the 19th century, but into the 20th and eventually the 21st century. And that's really kind of helped us gain this, this newfound momentum we have as a company, as a brand. And we're really excited about it and we'd Love for others to follow in our footsteps as well.

[Host 2]

And you've recently been able to lower prices permanently also, which is something very rare in the manufacturing space. Can you walk us through any specific changes that you've made, whether it's technological or more procedural that made that possible?

[Ross Widmoyer]

Yeah, no, I think that that's been the big news coming out of Faribault, Minnesota is that we've been lowering prices while others are raising prices, especially in this hyperinflationary environment we've experienced over the last couple of years. And we've been able to do that all the while raising wages here with our workers in Minnesota, which we're really proud to have done that. But really for us it's about the investment in new equipment and helping automate the manufacturing of a craft that we've been doing for 160 years. And I think sometimes automation in a bit of a dirty word, particularly if you're in the workforce, it oftentimes means replacing workers with machines. We're doing anything but that. We're continuing to grow employment here at our plant in Minnesota and in Maine. But we're able to make more product as a consequence of the new high speed, high tech machinery we've invested in over the last couple of years. And that's allowed us to make blankets more cheaply. And rather than pocket all of that gain, we wanted to pass it on to our consumers because we know that they're getting pinched from all corners of their life and it's the least we could do here as a great American brand and a great American company.

[Host 1]

Hey, you know, I am curious too about selling like I'm on your website right now, I mean, how much is direct to consumer? How much is, and forgive me for not knowing like retail or do you have partnerships that you sell at existing retailers?

[Ross Widmoyer]

Yeah, we do it all. We've really over the last five years made a strategic pivot from a long run contract based manufacturer into more of a short run, nimble, customizable, direct to consumer marketer and merchandiser. And that's really helped us grow our business. You talked about our top line sales growing over the last four years. We're expecting this to be record year number five for us. But we also do a lot of partnerships with, with different brands around the country. Coach and supreme have been two that we worked with. Not to mention the fact we've been making blankets for the US military since before World War I and we were just awarded a five year army contract. So now we make blankets for both the, the U.S. navy and the U.S. army. So anybody who enlists will get a blanket made here in Faribault, Minnesota. So it's a multi channel approach to retailing that we do, driven largely by direct to consumer, as you mentioned, but strategic wholesale and contract manufacturing as well.

[Host 1]

What's the biggest part of your revenues and revenue growth? Is it the direct to consumer?

[Ross Widmoyer]

It is the direct to consumer, and that really starts with product. You know, I've been around a lot of consumer product companies over the course of my career and newness is the lifeblood of any, any consumer product company. Newness and unique product. And we have a lot of unique product, which makes me really optimistic about the holiday season because I think regardless of any consumer uncertain, those retailers that have unique, differentiated product are poised to win. And we think we fall in that category with our city maps, our flag blankets, our artist collections. We have a lot of unique products you can't find anywhere else, all of which is made here in the United States.

[Host 2]

It seems like many of your peers are facing margin pressures and rising input costs, but you're thriving. And if you must, what would you say is the biggest pain point when you produce and manufacture everything in the U.S. is it labor? Is it just competing with overseas prices? Is it just the cost of these materials? What would you say it is?

[Ross Widmoyer]

Yeah, I think, you know, historically it's been cost, it's been more expensive to produce here in the United States than it has been, let's say, in China, because of, you know, what we pay our workers. And we pay our workers a good and a fair wage here. We want them to be able to sustain good middle class lifestyle here in Faribault, Minnesota and also out in Monmouth, Maine, where we produce our cotton blankets. So that's an important part of our mission as a company. But I will tell you, with the tariffs in place, that cost gap has shrunk. We have a proven product that we've been making for over 160 years and were made here in the United States. So if you go back to the old operational model of winning on cost, quality and flexibility, we think we can win on all three aspects of that model. And that's why we're really excited about where we are today and why we're really excited about the future.

[Host 1]

We talk a lot with you and also in general this year, certainly with President Trump in the White House about manufacturing coming back to the United States. What would make manufacturing easier for you in the US you want to pay workers what they're worth, you know, especially in an economy where we talk about a K shaped economy where not everybody's doing so well and people can't afford to, you know, put food on their table or provide housing. I mean, it's just really tough for a lot of Americans. Not just a few, but a lot of Americans. So when you look at this, what would make it easier?

[Ross Widmoyer]

Yeah, I think, you know, I talk to a lot of manufacturers and I chair the Manufacturers Council here in the state of Minnesota. And the number one issue I hear from manufacturers, and we feel it as well is, is is finding not only workers and a workforce, but a skilled workforce that can do the type of work we need them to do with state of the art machinery that we've invested in over the last few years. So I think, I think there has to be a renewed focus on investing in education in this country, particularly vocational education, starting not only at two year vocational schools, but all the way to high schools and even middle.

[Host 1]

So you don't need, so you don't need somebody necessarily with a college degree?

[Ross Widmoyer]

No, we, I mean, you know, I tell people all the time if, if, if, 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.

[Host 1]

Yeah.

[Ross Widmoyer]

And so what we need are people with mechanical aptitude who are willing to work, who are willing to learn, who are curious. And I think those are skills that can be trained certainly in middle school, all the way to high school, and if need be, up to two year vocational colleges as well.

[Host 2]

What about looking ahead? You said that you've been making things in America even before it was cool. Well, now that it's cool or what is encouraged, do you believe that the current momentum in US manufacturing here is sustainable? Like what if everyone really does manufacture in America? Is that something that can be.

[Host 1]

Yeah. Do we have enough workers?

[Host 2]

Especially if we need workers to do materials and everything?

[Ross Widmoyer]

Yeah, that, that's the key question is I think, do we have the workers to do that? I think workers coupled with state of the art technology, you know, where you can have the same number of workers like we do here, but if we have the right technology, we can actually produce more product. You know, that that's kind of the secret sauce and that's what we have to figure out as a country, as a society. It's not going to be an easy task. I don't think it's 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 because it's good for our companies, it's good for our communities, it's good for our investors too.

[Host 1]

All right, we're going to have to leave it there, Ross. Always good to get some time with you, Ross. And maybe we can get another chat with you as we get closer to the holidays because the season is just around the corner. Although we have to get through Halloween.

[Host 2]

First holiday and Thanksgiving.

[Host 1]

And Thanksgiving. But you know how it goes around here. It's like Christmas or holidays. All of it's coming. Ross Windmoyer, He's President CEO Faribault Mill joining us from Minnesota.

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