President Barack Obama will focus on creating jobs and boosting advanced manufacturing when he discusses the U.S. economy in North Carolina Wednesday.

The White House says Obama will announce Wednesday in Raleigh that a consortium of businesses and universities led by North Carolina State University has been chosen to lead a manufacturing innovation institute for next-generation power electronics.

NewsChannel 12's Jon Erickson is in Raleigh and will bring live reports on President Obama's visit. You can also watch a live stream of the president's speech on wcti12.com.

Last year, Obama proposed using $200 million in federal money to create three new manufacturing institutes. The hub he's announcing Wednesday is the first of those three.

Obama's trip comes as he prepares to focus on the economy in the State of the Union address he'll deliver Jan. 28. It also follows the government's monthly unemployment report, which said employers added just 74,000 jobs in December.