The Government has announced more than £100 million is being given to North East businesses to sustain more than 30,000 jobs.
The North East has received the highest amount of Regional Growth Fund money per person for any UK region.
The Deputy Prime Minister visited two Stockton-based companies to announce winners of the third round of the £2.4 billion fund.
Nifco and Tinsley were both successful in previous rounds of the Regional Growth Fund.
Nick Clegg met with staff and apprentices to see how the businesses are using the investments.
Ebac Group, a County Durham-based company, is using the money to become the only manufacturer of washing machines in the country, after being awarded a grant of £1 million.
The company is planning to create 200 jobs.