This article explores the Spanish relative position in terms of exposure to Information and Communication Technology (ICT) and its impact on economic growth over the last decade. It shows a wide set of indicators reflecting a technological gap of the country. This lag is more intensive in its less developed regions. The accessibility to data on capital stock by asset type allowed us to do carry out a Growth Accounting exercise. As a result, we find that since 1995, the steady fall in labor productivity is explained by an insufficient investment on non-ICT capital as well as by a negative contribution from Total Factor Productivity (TFP). The positive news is the finding of a slight recovery since 2000 brought about by a higher rate of ICT and non-ICT capital accumulation and by a less negative contribution from TFP. The article concludes that the most positive effects of ICT are still to come.