Video report by Tom Barton
It has been a huge day for Sunderland, and one that has been welcomed with open arms by its people.
The £1 billion investment from Nissan in the area is expected to have a trickle down effect into local business and bank accounts.
Sue Parkin has run a cafe on Roker seafront for 17 years. She says after the worries of Brexit, it feels like the uncertainty is over.
Enjoying the sunny coastline today was the Bojangles Ukulele Group. One of the members, Charlie Lalley, told ITV Tyne Tees, "It's fantastic news, can only be excellent for the future of the area in terms of the number of opportunities and expansion, the suppliers around... there'll be loads and loads of jobs."
Nissan confirmed today that it will be investing £1 billion into a new 'gigafactory' where they will build electric car batteries, and also producing a new all-electric car at the existing plant in Washington, Sunderland.
The news came with the word that around 1600 jobs would be created, some based at the existing plant and some at the new 'gigafactory'.