One of Wearside's largest employers is set to expand, creating 120 new jobs.
Vantec Europe Ltd is building a second major warehouse in Sunderland.
The £23m building will become the largest-ever overseas project for Japan-based parent company Vantec Corporation.
Groundworks have started for the 436,000 sq ft warehouse and office building at the Hillthorn Business Park, which is close to Nissan.
The work will be completed in December, and Vantec will begin recruiting at the beginning of 2016.
Vantec Europe Ltd provides warehousing and logistics to Nissan Sunderland, Komatsu UK, Birtley and Cummins Engines, Darlington.
It currently employs over 1,000 people in Sunderland.
This is another major new project for Vantec and a great vote of confidence in our Sunderland operations from our parent companies VantecCorporation and Hitachi Transport System. The investment in this new warehouse next to the Nissan car plant will underpin our position as the largest supplier of ‘Just In Time’ logistics to Nissan Sunderland plant.”
Our ambitions for Sunderland to become Europe’s automotive hub are strengthened by this development, and it illustrates the continuing success of our Business investment team in attracting and securing major investments from global companies to the city, creating jobs and a remarkably strong automotive sector. The long-term relationships we build with businesses and investors underpin many thriving enterprises, now going from strength to strength.”
A poster campaign begins today at Heathrow Airport, encouraging firms to invest in the North East.
A series of images have been chosen to represent the breadth of the region's industries, from science, to marine engineering and the renewable energy sector.
Local firms were asked to submit photographs for the posters. Ten were chosen for the campaign.
The images will be on display for the next six weeks.
£500,000 worth of free advertising space is being made available for the campaign. The North East is the first of six UK regions to benefit from the opportunity.
Gas is now being created from sewage treatment. The project is called ‘Power from Poo’ and it has already been generating electricity.Read the full story ›
Newcastle United owner Mike Ashley has been named as the richest person in the North East, despite his fortune falling by £250m.Read the full story ›
Barclays has announced it will create more than 200 jobs in Sunderland by opening a dedicated fraud-detection centre.
The new posts will be based at the bank's offices on Wearside.
Barclays says it is a vote of confidence in the local economy.
Newcastle United has made profit for the fourth successive year. This cements Newcastle's position, in financial terms, as one of the most successful clubs in the top flight.
The club's debt remained static at £129million in the form of an interest-free loan from owner Mike Ashley - none of the debt has been repaid.
"I am pleased to report a positive set of results which confirms the healthy financial position the club now finds itself in and is a reflection of the prudent and measured manner in which we operate.
"The club benefits from a supportive owner and is financially stable. This gives us a strong platform from which to grow, both on and off the pitch, a result of which means, as we move forward, we are able to net spend on the playing squad and invest in other areas of the business.
"The most pleasing aspect in this set of accounts has been the growth in our commercial revenue and it has been our strongest year yet in that respect."
Newcastle United has announced record profits of £18.7m due to increases in television income and new sponsorship deals.
The club also saw revenues increase by 35% from £95.9m to £129.7m.
More than half the club's income (£78.3million) came from the new Premier League television rights deals.
"Most significantly, the club reported strong commercial revenue growth delivering £25.6million in 2014, up from £17.1million in 2013. This 49.7 per cent increase was largely the result of two lucrative new deals with the club's principal sponsors, Wonga and Puma."
A County Durham factory where hundreds of train carriages will be built is on target to be completed.
The final part of the track connecting the Hitachi factory at Newton Aycliffe to the rail network was laid today.
When it's finished the building will become the company's main European factory for train manufacturing, employing 700 people.
It will be the base for constructing the new Great Western Main Line and East Coast Main Line trains .
The construction of a train factory in County Durham, where hundreds of new train carriages will be built for Intercity and ScotRail contracts, is on target to be completed later this year.
More than 700 people will work at the plant in Newton Aycliffe, where hundreds of new train carriages will be built.
Today the final part of the track will be installed, connecting the factory to the rail network for the first time.