President Obama Pitches 'Dynamic, Cutting-Edge Economy'

The president discusses America's future jobs prospects at Austin tech company, Applied Materials.
17:33 | 05/09/13

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Transcript for President Obama Pitches 'Dynamic, Cutting-Edge Economy'
And it's wonderful to see all of you here today first bowl game -- an outstanding round of applause for the great. The in. It is wonderful to be here applied material -- but Mike and everybody who helped out. -- hosting us and a wonderful tour the facility it would it was incredible. -- -- -- showing me some you're clean rooms where. You -- building -- equipment that makes good generous. That is basically power. -- -- powering everything. That you've got to take pictures -- right now. Smartphones computers -- laptops. And it is just remarkable to see every time I walk through these kinds of facilities -- -- -- -- this is just magic I don't know how -- note. Someone explain to me that I guess one wafers was being cleaned and is that this would be the equivalent. It was Alex who told -- Alex -- somewhere -- the equivalent. If you're mowing the south wrong but but every blade of grass. Was exactly. Cut at the same -- Within. A single human hair. That's how precise things are found its estimate. And it if that's by the way. You know the precision that you operate on -- if that's how you define a clean room then. Sasha -- gonna step up -- -- -- home. Because. It is not -- point. I want to thank your mayor. Relay and well -- head. He only lives it is doing outstanding work every -- in and help and that to bring -- -- Austin community together. Congressman Lloyd Doggett. They've been great -- how we actually have. -- special guest. The mayor of San Antonio in the house my friend. Leon costs rose. Now I've spent. The day in Austin talking with folks about what we can do to reignite. The true engine. America's economic growth. But thriving. Rising. Middle class. And a dynamic. Cutting edge economy. That's our priority. That should be Washington's top priority. And. And I think three things that we need to focus on -- number one we've got to make America a magnet for good jobs. Number two we've got to help people -- the skills they need to do those jobs. Number three we've got make sure people's hard work is rewarded so that they can make -- a decent living doing those jobs. If you watch the -- sometimes you may think that. There's just doom and gloom out there. But the truth is there's incredible stuff going on all across America. And right here in Austin that I think can be good models for the rest of America fall. Now this morning -- visited made -- to attack high school where students are earning. -- hi tech skills. That companies like applied are looking for right now they are getting excited. Working with math and science and technology and engineering. And it's -- hands on high school. Where subjects are integrated and and kids are our building things and and in conducting experiments -- that very early ages and it's sparking their imagination. In ways that may lead them to start up the next applied -- come here and work -- And -- I joined a few local families for -- to talk about how we can each make sure that hard work pays off with wages you can live on a raise a family with. With health care that you can count on. And the chance to -- away some money for retirement. And we also had good barbecue. Don't. Is necessary for economic growth. Some good barbecue once a -- And and then I came to applied materials to talk about what we can do to make. America a magnet for new jobs of manufacturers. After shedding jobs for a decade our manufacturers and added now about 500000. New manufacturing jobs over the past three years. Caterpillar's bringing jobs back from Japan and board is bringing jobs back from Mexico and -- replacing plants. In other countries like China Intel is opening its most advanced plant right here at home. This year apple started making Macs in America again. So so there's some good trend lines there but we've got to do everything we can to strengthen that Trent. We gotta do everything we can't help but kind of high tech manufacturing. -- you're doing right here at a plot. We want to make sure that takes root Beers in Austin and all across the country. And that means first ball. Creating more centers of high tech manufacturing. The last year we launched our first manufacturing. Innovation institute in Youngstown Ohio. To develop new technologies and equip workers with the skills required to master. 3-D printing techniques and in my State of the Union Address I called on congress to set up fifteen more of these manufacturing jobs all across America. And I said -- my administration was gonna go ahead and move forward with three -- loves our own even without congressional action. Well today were launching a competition for those house. We are looking for businesses and universities. That are willing to partner together to help their region. Helped turn their region. Into global centers of high tech jobs because we want the next revolution. In manufacturing to be made in America. Through this over the past couple decades too many communities have been hit hard when plants closed down and jobs right up. The economy obviously is changing all the time nobody knows that. Better than folks here at applied. I was talking to somebody who's. You know after a short break away for him some chips -- showed -- -- -- Smartphone that point the Smartphone -- said -- Forty years ago. There there'd be about. Three billion dollars. Just try to get this much computing power in this little -- except it would fill up a whole world. And -- -- economies dynamic technology is constantly changing. That means we've got about as well. And and even as we're working to reverse the trend of communities that have been hard hit with all manufacturing -- We've got -- -- partnerships with local leaders in manufacturing communities to help attract new investment. In the infrastructure. And the research that will attract new jobs new businesses -- communities that have been not down can get back up. And and get back on their -- And we should help our workers get the training they need to compete for the industries of tomorrow. No job in America should go until just because we don't have anybody with the right skills. And that's that's -- problem. Some of your colleagues that I met some of them have advanced degrees. Some of them came to apply basically right out of high school. But all of you. Whether it was in some cases through. You know a university education in some cases. The military in some cases just on the job training all of you have specialized skills. That are exactly what we need to continue to grow our economy. But we've got a whole bunch of folks out there who don't have those skills. Either because the education system -- it -- them or because their skills have been rendered obsolete. And that's why I want to rethink how are high school kids are prepared. I want to make sure the work training two million Americans and our Community Colleges. For skills that will lead directly to wage job. Week -- and that's also. That's also why we've got to make sure that. College is affordable and people aren't. Burdened by a mountain of -- Now -- wanna manufacture the best products we've also got invested. And cultivate. The best ideas. -- innovation. Ingenuity that's that's the constant. The American economy. That's that's -- -- Constance of our character what keeps America on the cutting edge. And just before it came here I visited capitol factory. Which is some you know the place that helps startups take off. And everywhere you turn -- got a new idea they're all thinking maybe they're taking risks it's exciting. There was a young woman who. Who's in a wheelchair. And physically disabled but. Is just incredibly. You inspired. To to make sure that she's not in any way confined by that situation she's. Basically designed and is now manufacturing a car of the people in wheelchairs can just -- -- wheelchair right into the car and start right. And then you had -- a young man who had a 3-D camera. -- this bag. And basically from. Filming. -- a static image or in the round. Can basically -- notice that immediately and create. 3-D image and then. You know use -- for three manufacturing. Three deeper printing and manufacturing and what. Currently costs about 80000 dollars cost about 3000 dollars the technology that he's developed so so they're doing amazing stuff. And one of the things we're doing to fuel. More in Bennett -- Inventiveness like -- the fuel more private sector innovation and discovery. Is to make the vast amounts of America's data. Open. And easy to access for the first time in history. So talented -- doors are -- some pretty amazing stuff. We have data the target being collected by government so over that capital factory -- met with folks behind the startup called storm pulse. Which uses government data on whether to help businesses anticipate. Disruptions -- service. Many got a Virginia company called -- power that's used government data. On trends and energy to save its customers 200 million dollars on their energy -- There's an app called I -- triage. Founded by a -- ER doctors. The uses data from the Department of Health and Human Services to help users understand medical symptoms and find local doctors. And health care providers. And today I'm announcing that -- making even more government data available and we're making it easier for people to find and to use. And that's gonna help launch more startups. Going to help launch more businesses. Some of them undoubtedly will be using this data. Powered by. Chips that essentially started right here -- applied materials. The. It's gonna help more entrepreneurs come up with. -- products and services that we haven't even imagine yet. This kind of innovation and ingenuity has the potential to transform. The way we do almost every. 13 of jobs and Austin are now supported by the -- We should do all the weekend encourage this kind of innovation economy all across America. In ways that produce new jobs and new opportunities for the middle class. We're poised for a time of progress if -- -- Not even five years after the worst economic crisis and our lifetimes. Our job market are housing market are steadily healing our deficits are falling. At the fastest rate in decades. The American auto industry has made a comeback it's thriving. American energy is booming. Well we've got to keep -- moved forward. And we got to make sure the Washington is not. Administering self inflicted wounds. What we're making progress. So Mike and I were talking about the fact that -- we can reform our tax system that -- back some of these loopholes. Potentially we could lower some rates. That would make our businesses more combat. Basic research. You'll hear people talk about -- You know government is it is not gonna do anything for small we don't understand that the private sector. Powers and drives. Our economy. On the other hand. Most of the the private sector right now has a lot of trouble financing. Basic -- certain. And that basic researches the foundation for everything that started this company and everything that's done for most your customers. And we can't afford to fall behind when it comes to base -- -- so there are some key things. That we can do. That shouldn't be ideological. They're not democratic ideas a Republican ideas are independent -- they're just good ideas. That allow the government to help create the foundation the platform the environment. In which companies like applied materials comprised. And that's what we've got to constantly champion and when you're talking to your members of congress -- -- -- and -- elected officials. You've got to remind them. We don't want government to do everything for -- but it's got a role play on infrastructure -- search. Making sure the -- fair tax system that's fair. Making sure that we've got some basic stability and our budget so people are always gets what's gonna happen around the corner. Think about how this company was built back in 1960s up. When applied materials was just getting off the ground there were five employees. It worked out of the small industrial unit in California. And I suppose -- a clean room in there but I don't know what looked like. But what they lacked in size they made up. Within just north and imagination. And rest take. And over the years as you grow to become a leader in high tech manufacturers. -- ingenuity never fault. What you've been what this company for decades as an -- unit. Or just for your. Your all focused on the future. Every day you're pushing the limits of technology a little bit further. And you're not alone. Because. Somewhere over the capital factory there is not -- mapping out a new product on the white board that may be the next big thing. Somewhere over -- -- -- new tech high school. -- -- -- scribbling down an idea for new invention that one day may turn into an entirely new industry. That's America. And when you look out across this room where you also noticed is there's talent drawn from every segment of our society. We don't care what you look like where you come from what your last name -- Which is want to make sure we're all working together. To create a better future for our kids that's America we innovate we -- we move forward. That's what often go about. I want to keep on promoting. As your brother. The United States --

This transcript has been automatically generated and may not be 100% accurate.

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