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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.
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