Building the Next Metropolitan Centre. Surrey s Economic Strategy

Transcription

1 Building the Next Metropolitan Centre Surrey s Economic Strategy Presented to: SBOT June 13, 2017

2 In Search of Excellence Many curious questions (!!) >1 Year + $1 million 200+ Answers

3 Reinforcing a Metropolitan Identity Not Creating a New One The ability to mobilize socio-economic players Modern and efficient public infrastructures The presence of highquality knowledge sources The availability of a skilled labour force Access to varied funding sources A high quality of life Openness to the world and tolerance for differences Knowledge Economy Talent Vibrancy Diversity Investment Social/ Environmental Leadership Modern Infrastructure

4 Metropolitan Centre Identity Globally Minded, Regionally Connected. Metropolitan Centre for 2 Regions America s Gateway to Metro Vancouver

5 Metropolitan Centre Identity: City of Cities - A Story of Diversity & Youth

6 Metropolitan Centre Identity: A Strategic Beachhead & Transaction Hub

7 Our Economic Vision Our vision is for the City of Surrey to become the regional nexus for commerce and a nationally recognized centre for innovation within the next decade.

8 How We Do It We will achieve our vision by creating a vibrant business ecosystem that catalyzes the development of jobs, investment, entrepreneurship and innovation within the City of Surrey.

9 Strategic Focus Areas & Objectives (Scalable) People, Process, Technology Investment Attraction To attract investment to unlock transformative city building opportunities Distinct & Competitive Business Communities To create distinct and competitive business communities across Surrey Workforce Development To create one job for every resident worker through retention, attraction, and development. Innovation Economy To become a nationally recognized innovation centre within the next decade 4 Flagship Programs, 20 Initiatives

10 Investment Attraction Priorities: Transformative Business Infrastructure Infrastructure investment opportunities are found at the convergence of overlapping trends and synergistic initiatives "

11 Investment Attraction Priorities: Transformative Business Infrastructure Entertainment / Lifestyle Digital and Information, Communication Technology Smart Cities Infrastructure Transportation & Logistics Research & Development / Innovation

12 Investment Attraction Priorities: Surrey Investment Evaluation Matrix System (SIEMS) Weighted ranking system Deal-driven, but flexible Consistent quality customer experience Clarify staff expectations Evidence-based resource allocation Environmental Economic/ Resource Demographic/ Social Policy Priority Timeframe Legal Other Considerations

13 Investment Attraction: Invest Surrey & Partners Best-in-class Investor Services & Experience Partnership Development Investment Opportunity Analysis Market Intelligence & Custom Datasets Automated Site Selector Tool Strategic Marketing & Storytelling

14 Advanced Site Selector Tool Mk 1.0 Challenge: ~$10,000/ report Solution: Self-serve automation! Data: Economic Development Update (Quarterly) City of Surrey GIS Data (As available) Commercial/ Industrial DP (As available) Spacelist Listing Data (Monthly) Strategic Market Intelligence analysis for decision making: C-suite executives Small business owners Real estate brokers Business researchers General public

15 Innovation in Surrey Transformation for all.

16 Innovation Economy Not just assets, but an innovation ecosystem. Over the past 5 years, over $285 Million in Innovation Ecosystem Investments have been deployed in Surrey.

17 Building Our Conferencing Assets INDUSTRY 4.0 Canadian Manufacturing Competitiveness INNOVATION BOULEVARD Smart Cities & Health Technologies INVEST SURREY OPPORTUNITIES SUMMIT The forum for deal making in Surrey GREATER VANCOUVER CLEANTECH CHAMPIONSHIP Celebrating regional clean technology Leadership

18 Building Distinct & Competitive Business Communities 80% of economic growth comes from existing businesses. Opportunity Analysis Expansion Retention Succession Planning

19 Capacity Building a Necessity Building Canada s Economy in BC. National Shipbuilding Strategy 41 companies in Surrey awarded contracts: One of the largest number of companies awarded contracts in the region. Account for 5.2% ($8.6Mil ) of the total $165M supplier market. Expansion & attraction.

20 BIZ SPARK Surrey: Business Visitation Program (D3M) 3 Year Target: 500 Visits BUSINESS RELATIONSHIPS Measurements & Data

21 Workforce Development From a talent exporter to a talent importer 30% 73% percent of surveyed companies in Surrey s priority sectors have talent attraction challenges. Where do Surrey workers come from? 23% 15% 8% 0% Langley's Delta Vancouver Tri-Cities Fraser Valley Burnaby White Rock New Westminster Richmond Maple Ridge North Vancouver Pitt Meadows

22 Developing the Targets & Econometrics Economics data for Surrey is difficult to obtain Need to create the baselines 21 st century solutions to a generation-old challenge. Econometrics & Research Analyst for D3M

23 Thank You Stephen Wu Manager, Economic Development l