Hundreds of engineering jobs will be created across the North East as large firms secure new contracts, and expand existing projects.
The international firm AMEC, which is based in Darlington, is looking for up to 700 contract staff.
And Tyneside shipyard OGN has secured a multi-million pound contract, which will create 170 jobs and secure 300 more at the site in Wallsend.
Business leaders say the challenge now is in making sure there are enough skilled workers to fill the posts.
Children from 14 schools across the region have been getting a taste of the fastest motor sport in the world - Formula One.
They've been competing in the 'F1 for Schools' regional finals at the Great North Museum in Newcastle.
A team from Gateshead were crowned winners and they'll be heading to the UK finals in Birmingham in March.
Phil Roscoe reports.
Team 'Shockwave' from Emmanuel College in Gateshead is the winner of the local final of the 'F1 in Schools' competition.
14 teams from North East Schools gathered at the Great North Museum in Newcastle today, January 14th, to compete. The pupils had to build and race scale model F1 cars.
Only three groups can go forward in the national contest: the winning team, runner up and a team who have entered the competition for the first time.
Winner: 'Shockwave' from Emmanuel College in Gateshead
Runner Up: 'Alpha Project' from St Bede's Roman Catholic School in Peterlee
Rookie winner: 'Nova Racing' from Royal Grammar School in Newcastle.
In March our region's top teams will have to beat pupils from across the country if they want to represent Great Britain at the F1 in Schools world final in Abu Dhabi later this year.
F1 in Schools is social enterprise aimed at getting more children interested in engineering and get hands on experience.
The government has confirmed a £4.5 billion pound Hitachi contract will be used to build the next generation of Britain's Intercity Trains.
A new factory will be built at the site in Newton Aycliffe, County Durham, which will manufacture 92 high capacity trains to replace the existing Intercity 125's.
The contract will create 900 new jobs in the area and thousands more in the supply chain.
Hitachi has also confirmed that a Research and Development centre will also be based at the Newton Aycliffe site which could help the firm to secure more European rail contracts in the future.
The last of 16 protective bollards has been removed from Gateshead's Millennium Bridge
The last of the bollards at Gateshead's Millennium Bridge is being removed.
Civil engineers have been extracting the piles from the River Tyne for the last five weeks, after it was decided they are no longer needed.
The 16 pillars were installed when the structure was built in 2000, to protect against vessels accidentally colliding into the bridge.
However, recent assessments found that risk of collision was minimal.