Newcastle University's National Innovation Centre for Data (NICD) generated an estimated £141m in cumulative net additional gross value added (GVA) for the UK economy between 2018 and 2026, according to a new assessment by Ortus Economic Research.

By 2026, NICD's support had generated an estimated 570 net additional full-time equivalent jobs, 467 of them in the North East. For 2027 to 2036, Ortus projects £517m in net additional GVA from NICD's project activity.

Ortus says the assessment follows HM Treasury Green Book guidance. It combines NICD project data, a survey of former and current clients, consultation interviews and economic modelling. NICD sent the survey to 104 organisations with current contact details and received 21 responses. The report also includes 19 responses gathered for its 2024 assessment.

The model deducts 40 per cent for activity it estimates would have happened without NICD and 5 per cent for activity shifted from elsewhere. For regional estimates, it also allows for 18 per cent of the impact to fall outside the North East.

The forecast assumes that growth in jobs linked to NICD projects and inward investment continues over the next decade.

NICD director Professor Paul Watson said: “Our collaborative model is designed to leave organisations with the skills and capacity to continue developing and applying AI and data science long after a project has ended.”