PResident-elect Donald Trump responded to being named TIME’s 2024 Person of the Year on Thursday morning, emphasizing the potential for America’s economic growth in his second term.

Trump said that when he takes office in January, he will be better prepared to understand how to staff his government and use his power. “‘Now we have experiences we didn’t have,” he said.

Read more: TIME Person of the Year 2024: Donald Trump

“This is the second time TIME Magazine has received this award, I think I like it better this time,” Trump said at the New York Stock Exchange before ringing the opening bell alongside TIME CEO Jessica Sibley and others. Since 1927, TIME has chosen a Person of the Year, a recognition of the person who, for better or worse, has made the greatest impact on the world and headlines. Trump was already Person of the Year in 2016 when he won the presidency for the first time.

Members of Trump’s family and the new Cabinet stood behind Trump as he spoke, including Vice President-elect JD Vance, his daughter Ivanka Trump, nominee for Department of Health and Human Services Robert F. Kennedy Jr., and nominee of the Environmental Protection Agency Lee Zeldin of the Department of Finance Nominee Scott Bessent, Nominee Scott Turner of the Department of Housing and Urban Development.

Read more: Read the full transcript of Donald Trump’s 2024 Person of the Year interview with TIME

In his remarks, Trump talked about incentivizing investment in manufacturing in the United States, including cutting taxes for those who make their products in the United States: “We will develop the incentive theory again,” Trump said. “For those who run the big companies, these great, big, beautiful companies, no one will leave us. You will come back; They will bring it back to the United States. We want you back here, all the automakers.”