Siemens has announced plans for a new UK train factory in East Yorkshire.
This comes despite previous warnings that the company would have to consider very carefully about investing in a post-Brexit UK.
The investment of its 67 acre site in Goole in the east Riding of Yorkshire could mean an investment of up to £200 million says Siemens and will see employment for 700 people in skilled roles in addition to the 15,000 the company already employs across 13 plants in the UK, while an extra 250 will be employed during construction. There is also expected to be an additional 1,700 jobs formed in the supply chain.
Chris Grayling, the Transport secretary, called it an "exciting proposal" and said:
"I think it's a sign of confidence in the United Kingdom.
"You don't invest money in Britain if you don't think see the potential in Britain and Siemens already have a strong track record in this country.
"They are already an important part of our technology and engineering sectors."
Juergen Maier, Chief Executive at Siemens UK, said:
"We've said for some time that future success for Siemens in the rail industry would see us opening a rail manufacturing plant here and this announcement provides additional substance to those words. Having considered multiple locations in the UK, I'm delighted to confirm that we've identified a site in Goole for our new UK rail factory which not only has the potential scale we need for a facility of this size but also ready access to the skilled people we'd need to build and operate the factory.
"This investment has the potential to have a tremendous impact on the Yorkshire economy and the North of England as a whole, ensuring that the benefits of infrastructure spending are spread widely and helping to ensure the ongoing development of the UK rail industry."
Andrew Percy, MP for Goole & Brigg, said:
"This fantastic commitment from Siemens chimes perfectly with the vision we have for Goole 36 as a new centre for skilled engineering jobs locally. I am delighted that Siemens have chosen the Goole site and I will be continuing to work with Siemens and the Government to bring this investment to fruition. This has the potential to be transformative for our area and for local young people. It also builds on Siemens' other recent investment in East Yorkshire with their wind turbine facility in Hull."