RALEIGH, N.C. -- President Barack Obama is on a fresh push to reinvigorate the economy, following through on a year-old promise to set up hubs around the country as magnets for high-tech manufacturing.
He brought his pitch to North Carolina Wednesday, using the occasion to announce that the southern state is the first recipient of these new manufacturing innovation hubs.
The president said that a consortium of 18 businesses and six universities led by North Carolina State University will spearhead the effort. The aim is to better focus on developing next-generation power electronics. North Carolina is the first of three hubs that Obama called for in last year's State of the Union address.
He's dedicating $200 million in federal money to get the hubs up and running.