Siemens, the world's biggest manufacturer of wind turbines, has chosen Hull as the location for a brand new manufacturing plant, which will create 700 jobs in the area.
The company has earmarked Alexandra Dock in east Hull as the ideal place to establish the hub and boost the region's industry.
Plans include a new £80 million factory and the construction of a £100 million deepwater berth, with site owner ABP contributing to the development as well.
Prime minister David Cameron revealed his happiness at the move and told the East Riding Mail that it will transform the area.
"Over the next decade and beyond we will need thousands of offshore turbines as we shift to a low-carbon economy. Hull is now poised to capitalise on the jobs and investment this will bring," he added.
According to the UK Wind Energy Database, the UK currently has 3,153 wind turbines in operation.
Offshore Group Newcastle has won the rights to construct a North Sea drilling platform.
Read moreA legal loophole that allows shipping companies to pay foreign workers as little as £2 an hour should be dealt with by the coalition, one organisation has argued.
Read moreThe discount retailer plans to open at least 50 new outlets next year.
Read moreAs individuals are working longer they may be more likely to have several careers, it has been noted.
Read moreMany people make several career changes in their life, it has been said.
Read moreThe coalition is now looking at barriers preventing people from finding employment from an individual's perspective, it has been noted.
Read morePeople searching for jobs may find their prospects are better than they were 12 months ago.
Read moreThere are 150 positions available to be filled immediately at six new Travelodge hotels.
Read moreThe employment service has been awarded contracts to assist people trying to re-enter employment.
Read moreDue to high competition, it may be wise for young people to think about what they plan to do after school well before they leave.
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