President Obama has chosen a former Monaco Coach Corp. facility in Wakarusa, ind., now owned by Navistar International Corp., to deliver remarks on the economy on Wednesday, the White House announced today (Aug. 3).

Obama will discuss the immediate steps the federal government has taken to rescue the economy and the long-term investments the government is making to rebuild for the future, according to the White House release.

He will discuss how to build a new economic foundation strong enough to withstand future economic storms and support lasting prosperity, and how the U.S. can recapture the spirit of innovation that has always moved America forward.

The event will be by invititation only but open to the press. The arrival and departure of Air Force One will be open to the press but closed to the public.