✨ Big News for ICC Wales in Newport!✨ The Welsh Government has committed a whopping £10m to help the International Convention Centre Wales (ICC Wales) manage its finances after the tough times brought on by the pandemic. This major boost is in joint partnership with Celtic Manor, which is also investing £10m, reducing ICC Wales’ debt significantly.
For those who love numbers, this means ICC Wales’ liability with NatWest has dropped by £17m! Plus, the remaining debt is now on more favourable terms, setting ICC Wales up for a brighter financial future.
ICC Wales opened its doors in September 2019, but like many, it faced a significant setback with the pandemic just six months after launching. Fast forward, and they’re bouncing back stronger than ever. With over 90,000 delegates in 2024, the venue has made a massive economic impact of £65.8m, and predictions suggest this could rise to £88.1m annually by 2027! 🚀
The convention centre not only provides a fantastic venue for events but also elevates the global profile of South Wales, making it a hub for vital sectors like fintech, medtech, and more.
This £20m joint commitment from the Welsh Government and Celtic Manor speaks volumes about their confidence in ICC Wales’ potential. Here’s to more international events, more business tourism, and more benefits for the region! 🌟
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