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Welsh Innovation Centre to Contribute £36m to Economy by 2018


A co-working space and innovation centre in Wales is set to contribute at least £36 million to the Welsh economy over the next three years, according to a new report.

Published yesterday at the Senedd in Cardiff, the report found that Welsh ICE (Innovation Centre for Enterprise), which is based in Caerphilly, has already contributed more than £13m to the local economy in just three years.

If its current GVA (gross value added) contribution continues over the next three years, Welsh ICE will generate £36.3m by 2018, and that figure could rise to more than £50m if its members achieve their projections for job creation.