The White House confirms it is looking for office space downtown for a campaign headquarters.
The president will file papers with the Federal Elections Commission to formally declare his candidacy sometime in March.
Mr. Obama's current Deputy Chief of Staff Jim Messina will be the campaign manager.
The president traveled to Schenectady, New York Friday to showcase a new deal between General Electric and India.
He will also announce a restructured advisory board which will focus on increasing employment and competitiveness.
General Electric CEO Jeffrey Immelt will serve as the head of that council.