Manufacturing giant Siemens is to invest £160 million in wind turbine production and installation facilities in the UK, creating 1,000 new jobs.
The German firm had been working on plans to invest £80 million, which would have led to 700 jobs, but it has decided to revise its plans, giving a boost to the offshore wind industry.
The work will be spread across two sites comprising the previously announced Green Port Hull project construction, assembly and service facility and a new rotor blade manufacturing facility in nearby Paull, in East Riding.
Siemens will invest £160 million across the two locations and its port partner Associated British Ports (ABP) is spending a further £150 million in the Green Port Hull development.
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Guillier conceded a "severe defeat" defeat to his supporters as the result came in.