A Detroit-area based consortium of 60 companies, nonprofits and universities and a Chicago based consortium of 73 companies, nonprofits and universities is partnering with the federal government to launch two new manufacturing innovation hubs, according to President Obama.

The new American Lightweight Materials Manufacturing Innovation Institute will be located in Canton. It's expected to create thousands of new jobs in the region over the next five years.

The Canton operation will focus on creating lightweight metals to market for use in cars, trucks, airplanes and other commercial, personal and military vehicles.

The President announced the 140 million dollar award of the Michigan institute, along with another one focusing on digital technology in Chicago, on Tuesday.