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NICD reveals £1.2bn projected economic impact
The National Innovation Centre for Data (NICD), based at The Catalyst at Newcastle Helix, has revealed the findings of a new independent Economic Impact Report, highlighting the significant contribution it is making to the North East and wider UK economy.
The findings were shared at a breakfast briefing at The Catalyst, bringing together the NICD community to celebrate its achievements to date and look ahead to the Centre’s next chapter.
And there was plenty to celebrate.
Independent research by Ortus Economic Research found that between 2018 and 2026, NICD generated £141 million in cumulative net additional Gross Value Added (GVA) for the UK economy, with £116 million of that retained in the North East.
Looking ahead, NICD is projected to play a role in delivering an economic benefit of £1.2 billion to the UK over the coming decade, with £1.1 billion expected to occur in the North East.
Impact at a glance
The report highlights the scale of NICD’s impact across the economy, skills and investment:
£141m cumulative net additional GVA generated for the UK economy to 2026, including £116m in the North East.
570 net additional jobs created through NICD support, including 467 in the North East.
Up to 6,600 people upskilled through NICD’s project portfolio.
£27.20 in net additional GVA generated for every £1 of public funding invested.
1,584 jobs attracted through inward investment associated with NICD’s activities and presence in the North East.
£1.2bn projected economic impact over the coming decade, with £1.1bn expected to occur in the North East.
Unlocking the potential of data and AI
NICD was established to help organisations of all sizes make more effective use of their data, bringing together expertise in data science and AI with real-world business challenges.
NICD draws on expertise from Newcastle University and works collaboratively with businesses and organisations to build their data and AI capabilities through collaborative projects, training and skills development.
Since its inception, NICD has delivered more than 180 projects with SMEs, major businesses and public sector organisations. Its collaborative approach focuses not only on developing new data-driven services and insights, but on transferring skills into organisations so teams can continue to identify and realise opportunities for themselves.
Professor Paul Watson, Director of NICD, said the new analysis demonstrated the Centre’s contribution through developing workforce skills, creating jobs and attracting inward investment.
He added:
“As NICD's reach and reputation continues to grow, we want to build on this impact and help even more organisations realise the value of their data.”
A significant impact on the North East
While NICD’s work reaches organisations across the UK, the report demonstrates a particularly strong impact here in the North East.
Its collaborative projects have generated £116 million in cumulative net additional GVA in the region, while an estimated 467 of the 570 net additional jobs created through NICD-supported projects are located in the North East.
The Centre’s presence has also contributed to the wider data and AI ecosystem, with the independent research estimating that 1,584 jobs have been attracted through inward investment associated with NICD’s activities and presence in the North East.
The report also found that NICD has played a key role in attracting more than £102 million of public research funding to Newcastle University, through its support and involvement in funding bids.
Innovation rooted at Newcastle Helix
NICD’s connection with Newcastle Helix goes back to the development of The Catalyst itself.
Plans initially envisaged separate buildings at Helix for NICD and the National Innovation Centre for Ageing. Their funding was ultimately pooled to create a single innovation building, bringing the two national centres together in what became The Catalyst.
Today, NICD is part of the wider community of businesses, researchers and innovators based across Newcastle Helix, translating expertise in emerging technologies into practical applications for industry and the wider economy.
The latest figures offer a powerful demonstration of the impact that can be created when research, skills, business and innovation come together in one place.
And, with the report forecasting substantial further impact over the next decade, NICD’s story at Newcastle Helix is far from finished.
