U.S. President Barack Obama was set to visit Cleveland, Ohio on Wednesday to deliver an address on economic issues, the White House said on Monday.

Obama would deliver remarks on the economy at Shaker Heights High School in Cleveland, the White House said in a statement.

Obama's remarks would come on the heels of the kicking off of the GOP presidential nomination race in Iowa, as both Democrats and Republicans have geared up for the presidential election this year.

Experts held that the upcoming presidential election would be heavily influenced by economic topics, while the U.S. economy started to show signs of improvement in the latter half of 2011 despite the stubbornly high unemployment rate.