Thousands of new jobs are on the way after US industrial giant GE confirmed plans to build a major new turbine blade factory in Britain.
Construction will start on a new multi-million offshore wind plant this year, which will include the capacity for up to three manufacturers in a mammoth investment for the UK.
US firm GE Renewables Energy said its new facility will be based at Teesworks, Teesside, which will sit alongside the new port.
It will make the river a major UK hub for offshore wind, with industry experts saying GE's arrival will turn the former SSI steelworks site into a "high-tech clean energy powerhouse".
Tees Valley Mayor Ben Houchen told Gazette Live the deal would be "monumental".
Once complete, the Teesworks port will have the potential to support the development of 100 turbines a year.
The agreement with global energy player GE will create 750 direct jobs at its Teesside base, generating twice as many in the supply chain.
The plant will produce sets of 107m blades for GE's Haliade-X offshore wind turbine for the huge Dogger Bank wind farm in the North Sea.
Teesside had previously been tipped as a front-runner as the location for the facility last November.
Prime Minister Boris Johnson was among was among those to welcome the news on Wednesday.
He said: "Teesside will continue to drive forward our green industrial revolution as we capitalise on new opportunities to produce clean energy through a brand new offshore wind port on the River Tees.
"It will not only create thousands of jobs and harness the skills and expertise of this great industrial heartland, but also boost investment into the area as we build back greener."
Tees Valley Mayor Ben Houchen said last week's Budget freeport announcement had been crucial in GE's decision to base its factory on Teesside ahead of a rival location in France.
The company will start production in 2023, supplying blades to the Dogger Bank wind farm 130km off Teesside's coast.
Dogger Bank is the largest offshore wind farm and is due for completion in 2026.
GE Renewable Energy president Jerôme Pécresse said the company was "delighted" at the chance to create renewable energy jobs in an area with "high potential."
He added: "The UK's target to commission 40 gigawatts of offshore wind by 2030 is ambitious and requires that we invest in the local production capabilities to accompany this effort."
Mayor Ben Houchen said: "This monumental deal reached today with GE Renewables Energy, to bring their multimillion-pound manufacturing facility to Teesside and creating more than 2,000 local jobs, is a major step forward for my plan to bring skilled good-quality jobs to local people."
Houchen said the benefits of a move to Teesside were worth "many millions of pounds" to GE.
"The financial incentive to GE meant they could only come to Teesside if we got the freeport.
"If we hadn't got the freeport, they would be expanding their factory in France right now, rather than coming here.
"With the tax breaks, the freeport and the £20m from Government, it bridges the financial gap.
"Discussions have been going on for the last 18 months, the Government was extremely keen to see more manufacturers in the UK.
"We have had issues in making the UK financially competitive.
"Government has been clear with manufacturers in that if you don't build here, in the UK, you will find it increasingly difficult to win UK contracts in the future."
Labour mayoral candidate Jessie Joe Jacobs also welcomed the announcement as "great news for Teesside".
She added: "But we need to make sure local young people benefit from these investments with opportunities for training in secure, high quality jobs and we need to support local businesses so they can step up and flourish in the supply chain."
The world-first carbon capture scheme will also be based at Teesworks and will be one of two clusters by the mid-2020s, with another two set to be created by 2030.
Up to 5,500 jobs could be created in the construction of the huge project.
