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Obama to announce manufacturing institute in NC

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WASHINGTON (AP) - President Barack Obama will focus today on creating jobs and boosting advanced manufacturing when he discusses the U.S. economy in North Carolina.

The White House says Obama will announce 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.

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

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