It claims that the news will have a positive impact on businesses in the North east of England, and boost the local economy.
Sean Bullick, CEO of Newcastle NE1, said: "The decision to build a third runway at Heathrow is not just of importance to the South East of England, it is welcome news to businesses in Newcastle and the wider North East. This expansion could add more than £4bn to the economy of our region and create as many as 5,000 much needed jobs.
"This has to be understood as a decision of national significance, with the needs of each region weighted equally, and work needs to start immediately to maximise the economic benefits. The 1,400 Newcastle businesses we represent will be cheering this news. Now we need the politicians, nationally and regionally, to make this happen."
The third runway was given the go ahead today, after proposals to expand an existing runway at Heathrow or build a second runway at Gatwick were rejected.
A public consultation will now be held on the impact of a third runway at the west London hub before the final decision is put to MPs for a vote in the winter of 2017/18.
A new runway could be operational by 2025.