A sale of land at the Nissan plant in Sunderland could safeguard jobs and create thousands of new ones.
The deal, between Nissan, One North East and Sunderland City Council, will enable the car company to go ahead with a £4.5m logistics centre.
A business park is also proposed for a 45 acre site alongside the plant, as well as road improvements.
The park will include office space, industrial units, a hotel and car showroom, and create up to 4,000 jobs.
The new logistics centre will enable Nissan to process thousands of parts each year from around the world.
'First rate'
Trevor Mann, from Nissan, said: "By bulk sourcing parts we are making significant total cost savings, which helps our plant to improve its competitiveness.
"This in turn puts us in a stronger position when bidding for future models."
As part of the new development there will be also be highway improvements to the junction of the A19 with the A1231.
Cllr Bob Symonds, leader of Sunderland City Council, said: "The council has supported Nissan from day one.
"This latest deal, which will not only see efficiency improvements at the Nissan plant but a first rate business park with the potential to create more than 4,000 new jobs in the city, is an example of the council's business friendly approach."
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