The International Convention Centre (ICC) was first conceived in 1983. Work was started in 1986. The whole project cost £121,000,000 of which £40,000,000 was funded be the European Community. It was arranged by the National Exhibition Centre Limited (privately owned by the Birmingham City Council to manage the NEC). Space was needed for the ICC so certain buildings had to be sacrificed but Oozells Street School, The Brass House and the Crescent Theatre were rescued from demolition and have been incorporated into Brindley Place.
The ICC created 3,000 jobs for the local community and in 1991 it generated 54 million pounds of money towards Birmingham's economy. It has been visited by many international delegates such as President Clinton, John Major, Chancellor Cole, Jacques Curac and President Yeltsin. The G8 conference, the conference for the world's economically and technologically advanced countries (US, Canada, UK, France, Japan, Australia, China and now for the first time Russia) was hosted by Birmingham because of the ICC's presence. It is estimated that the G8's impression on the world of Birmingham could result as much as one billion dollars of foreign investment. The ICC was supposed to take Birmingham out of the industrial age, oh and has it worked. 2% of workers worked in services in 1900 now it's closer to 80%.