Earlier, Immelt also shared his belief that GE is one of the leading businesses in the country.
"I like to think that this is where capitalism and where innovation really was born, with Thomas Edison right here in Schenectady," said Immelt in his opening remarks. "This business was one of the few businesses in the world, Mr. President, that had positive earnings every year during the crisis. We did it because we are a big exporter, we're a high tech company and that is pretty much the story."
Even with the local success GE has experienced, Immelt noted 60 percent of the company's revenue comes from out of the country. He said he has a responsibility to make sure this country is the most competitive and productive nation in the world.
"We're a big exporter, 90 percent of all the product that are made in this facility are exported out of the United States, so it is really a great example I think of what we want to do to renew this country and this company. We know at GE that the future is given to no one; we have to compete and we have to win and I know that this team can compete with anybody in the world."
By extending a federal program to make green energy choices easier, Obama said GE has seen $6 billion through investments from customers, which have spun up the demand from wind turbines.
"In an ever-shrinking world, our success in these efforts will be determined not only by what we build in Schenectady, but also what we can sell in Shanghai. For America to compete around the world, we need to export more goods around the world," said Obama.
While walking through the plant, said Obama, he saw signs next to the various items and all of them had a foreign country listed for where it is being sold and shipped. He said that is exactly why he recently met with China's leaders to open up trade agreements, which he said will result in $45 billion in new business for American companies.