Hundreds of new jobs could be created, following a government announcement to speed up renewable energy projects.
In the borough of Scarborough and Whitby alone, tourism is estimated to bring in £470 million each year.
As the latest jobs figures are released, we hear the differing experiences of two young people, in looking for work
Hundreds of new jobs could be created following a government announcement to speed up private investment in power stations using renewable energy.
The firms will receive a guaranteed price for producing low-carbon energy.
The first projects to benefit are on Teesside and in Northumberland.
Lynemouth and the surrounding area was hit badly in 2012, when the former Alcan aluminium smelter was closed, with the loss of hundreds of jobs.
The power station next door, which employed 130 people and was sold to new owners, will be converted from coal to biomass.
Teesside Renewable Energy in Middlesbrough is also expected to press ahead with investment to produce biomass energy.
Berwick MP, Sir Alan Beith, says it is good news for Lynemouth.
A biomass plant at Lynemouth in Northumberland is one of eight projects, in which the government has announced new investment.
The town was hit badly in 2012 when the former aluminium smelter was closed, with the loss of hundreds of jobs. An adjacent power station, which employed 130 people, was eventually sold to new owners and will now be converted to produce biomass energy.
The other seven projects given new support include Teesside Renewable Energy in Middlesbrough and Drax in Selby, in North Yorkshire, which will both also produce biomass energy. All together, the eight UK projects could support up to 8500 jobs.
Newcastle Central MP Chi Onwurah said the announced closure of the Northern Rock Foundation is an 'incredibly sad day' for the North East.
The charity will close at the end of the year after Virgin Money, its only source of income, halted funding.
– Chi Onwurah MP, Newcastle Central
The Northern Rock Foundation has made such a difference to so many lives as well as supporting the culture and values of the area.
I have often personally seen the positive consequences of Northern Rock donations.
I am very disappointed that Virgin Money could not find a way of working with such an important local institution given the personal commitment to the city and the region that Richard Branson and the company emphasised as part of their bid for the bank and in subsequent exchanges.
Virgin Money says it has have been 'very proud' to support the Northern Rock Foundation in the North East and Cumbria.
Today the charity announced it will close at the end of the year after it failed to reach agreement with Virgin Money on future funding.
– Jo Barnett, Head of Social Enterprise at Virgin Money
The Northern Rock Foundation has contributed to some fantastic work here in the North East and Cumbrian regions for many years and we have been proud to support them with £1.5m of donations over the last two years.
We have tried hard to find a way to continue working together on programmes that would deliver significant benefit to the region, however we have not been able to agree a way forward.
We will continue to support the North East community strongly in a variety of ways and look forward to establishing new partnerships to deliver a range of exciting new projects.
The chairman of the Northern Rock Foundation said they are very disappointed that talks with Virgin Money have broken down, leading to the closure of the charity.
The Foundation, which was originally the charitable wing of failed bank Northern Rock, doesn't receive funding from any other source.
– Alastair Balls, Chairman of the Northern Rock Foundation
It is very disappointing after such extensive discussions to have to accept that Virgin Money will not commit to fund the Foundation in future.
Trustees are keen to ensure that our remaining funds are used to achieve significant benefit in the North East and Cumbria and we will announce our plans later this year.
The charitable arm of failed bank Northern Rock will close after Virgin Money confirmed it could not continue to fund it.
The Foundation said its closure was now inevitable as Virgin was its only funding source.
The Foundation's current grant programmes were due to close at the end of this year.
Announcements on the use of remaining funds will be made in the future.
Visit England CEO, James Berresford, says we need visitors to get out and about spending money to help support the local economy.
Today is set to be the busiest day on the roads so far this year as people get away for Easter.
With more than 15 million cars on the move, drivers are being urged to consider delaying their journey until the afternoon of Good Friday, when traffic is expected to be relatively quiet.