President Barack Obama held up Ford Motor Co. as an example of companies contributing to the economy by bringing jobs back into the U.S. — and they should be rewarded for their efforts.

"You've heard of outsourcing. Well, these companies are insourcing," Obama said Wednesday in a speech, surrounded by business executives, state and local officials and union leaders.

Ford plans to invest $16 billion in the U.S. by 2015, he said. "And that includes bringing back about 2,000 jobs" into the country.