President Barack Obama is embracing a do-it-yourself approach to reviving the nation’s economy, saying Wednesday at North Carolina State University that he will bypass Congress where he can to help accelerate the recovery.

“This has to be a year of action,” Obama told a crowd of hundreds at the tennis center on the Raleigh campus. “Where I can act, on my own without Congress, I’m going to do so. And today I’m here to act.”

Obama announced a $140 million consortium of companies and universities at NCSU that will develop the next generation of energy-efficient electronic chips and devices. The effort – and other technology hubs like it – fulfill a pledge in his State of the Union address a year ago to develop high-tech jobs.

The Next Generation Power Electronics Institute will be headquartered on NCSU’s Centennial Campus. Over the next five years, the U.S. Department of Energy will provide $70 million to the institute, to be matched by at least $70 million in nonfederal money by the businesses and universities and the state of North Carolina.
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