Emda said it had been instrumental in securing Changan's commitment to Nottingham after sending its chairman there three years ago.
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The impact will depend on how many workers move away to take jobs and how many remain, an EMDA spokesman said.
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The East Midlands Development Agency (Emda) said attracting a firm which makes about 2.5 million cars a year was "fantastic news" for the region.
"Clearly there is a significant impact on the local economy and one that we are looking to further mitigate with actions we are taking at the moment, " Mike Carr from EMDA said.
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