The money will be invested in new digital technology, a second satellite truck to cover north Wales, staff training and refurbishing the site ITV bought in April for £18.7m.
The investment also covers a bespoke digital newsroom, set to go live in November, to allow journalists to edit their own news stories and create graphics.
It also includes seven Avid Adrenaline suites for editing news and local programming. ITV Wales' 102 production and editorial staff will be trained on Avid's iNews, which enables desktop editing and immediate access to the central digital news system.
The new infrastructure will also allow ITV Wales to connect to other ITV regions to exchange footage and programme content
Programmes produced at the Culverhouse Cross site include consumer show The Ferret, regional news programme ITV Wales Tonightand current affairs programme Wales This Week.
The broadcaster's office space at the site will undergo a complete refurbishment and all of ITV Wales' Culverhouse Cross-based staff, which total approximately 200, will be located together on one open-plan floor.
ITV Wales managing director Roger Lewis said the upgrade would 'link people and ideas together around a range of facilities, spaces and offices'.
The move comes as part of ITV's ongoing nationwide upgrade of its desktop editing infrastructure, which is understood to include an installation at ITV Creative of around 30 Apple G5 workstations complete with Final Cut Pro, Artbox and Adobe packages for editing, audio and graphics creation.
The investment also coincides with the news that ITV is to close its Granada Bristol site and its in-house children's production arm, putting at risk up to 50 and 19 jobs respectively.