Can Surrey Really be a True Global City? For Sure and Here’s

Why

A Talk to the Fraser Valley Estate Planning Council AGMEaglequest Coyote Creek Golf Course, 21st May 2014

7778 152nd Avenue, Surrey, BC

Michael A. GoldbergProfessor and Dean EmeritusSauder School of Business

The University of British Columbia

Changing Global Economic Landscapes and CitiesFinancial markets: led globalizationReal estate markets globalized nextGlobal cities network resultedNew International Division of Labor

Global product outsourcing Now services global too

Cities key global players

www.yvr.ca

The Changing Global Context Economic restructuring

◦ Goodsservices◦ Naturalhuman resources◦ Goodsinformation, knowledge, thinking, ideas

Demographic restructuring: aging, immigration, urban not rural growth

Global trade grows twice as fast as GDP

The Changing Global Context (continued)

Social restructuring: ◦ high pay low skill jobs shrinking◦ more income inequality

Fewer people in resource regions Global integration, deregulation, reregulation

Cities and the Global Knowledge Economy IDrivers of global economyInformation and decision centresCapital centresKnowledge centresInnovation centresCreativity centresCulture centres

http://www.econ.hokudai.ac.jp/~hasimoto/

Cities and the Global Knowledge Economy II

Strategic thinking a mustCities no longer minor actorsGlobal urban competition for human capital

Education: attracts/retains best peopleTolerance, talent, technologyCultural diversity – civic urban society

All regions need strategy to prosper

Cities and the Global Knowledge Economy III

Strategic Assets of CitiesAgglomerationDiversity – stabilityEfficient urban formQuality of living environmentStrong governance Open to change & globalizationQuality – quantity public goodsInternal-external accessibilityEducated flexible labour forceSupport services

Cities and the Global Knowledge Economy IV

Strategic liabilities of citiesNIMBY-NIMTE resist changeFragmentation, local competitionIncome disparitiesVulnerabilityAging buildings and infrastructureLimited tax base and autonomyLimited access to capitalWeak finances

http://www.benwiens.com

http://www.sensibletransportation.org

http://www.unce.unr.edu

http://www.mit.ocw.universia.net

Two starkly different urban forms: The Choice is Ours

http://pointofview.bluehighways.com/images/sprawl.jpg

Going Forward: Thinking and Acting Strategically

Strategic thinking and action is 4 things◦See world as it really is◦Respond to changed reality◦Choose from new alternatives◦Seize chosen opportunities

Thinking – Acting Regionally and Cooperatively: Governance Issues

Need regional gov’ts as regional fiduciaries◦ NIMBY – NIMTE block regional needs◦ No one speaks for regions now◦ Sydney is extreme cure◦ Can-US Joint Commission◦ EU also a model◦ Senior intervention is key

http://pointofview.bluehighways.com/images/sprawl.jpg

Elements of New Thinking Use strengths to build new economy Get new metaphors Build urban economy on industries & firms:

◦ With responsive innovative cultures◦ Eager to compete globally

Switch from AM to FM to hear emerging ideas Get new measures for new goals

www.discoveryparks.com

Some Assets Visionary politicians and senior city managers Future tolls on roads and bridges New City Centre Diverse Economy and ALR Innovation Boulevard Land supply PMV – Surrey Port Mann Railyards Diverse population Great access to US City Centre Transit Low taxes Growing rapidly

Surrey in this Context - I

http://www.mtarch.com/van-surrey1130re08.jpg

Some Liabilities Lack of certainty on transit Looming tolls and congestion charges Lack of strong regional government Urban sprawl from earlier era Rapid growth and costs Huge area to govern Traffic congestion

Surrey in this Context - II

Build on assets◦ Logistics (Land, PMV, rail, US access, SFPR, etc.)◦ Innovation Boulevard (Hospital, Fraser Health, SFU-KPU)◦ Develop ties to Asia, especially India◦ Enhance food industries on ALR base◦ Education hub for BC and international students◦ Niche financial services (SFU, Coast Capital, retirees)◦ And more…imagination and energy are only limits

Suggestions to seize global opportunities

Global is the word of the day and the future◦ Global competition◦ And, global opportunities

Cities compete globally for talent, investment, jobs

Surrey is well positioned to compete globally It has the assets needed to compete A growing global vision Business leadership that is keen to expand views So, do it! Thanks for inviting me and let’s chat

Conclusions

http://www.daemery.com/Additional/vancouver.htm