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Obama set to visit Speedway manufacturer

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President Barack Obama plans to make a trip to Indianapolis on Friday to visit Speedway-based manufacturer Allison Transmission Inc., the company confirmed Monday afternoon.

The White House said Obama will tour the plant and discuss "his long-term plan to protect consumers against rising oil prices and decrease oil imports while ensuring a cleaner, safer, and more secure energy future."  

Allison received a $62.8 million Department of Energy stimulus grant, announced in August 2009, to work on hybrid systems for commercial vehicles. The company started renovating a vacant manufacturing space last June to start the work. About 100 new and retained jobs are associated with the project.

Last month, the company filed plans for an initial public offering that could raise $750 million.

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