Building the Next Metropolitan Centre Surreys Economic Strategy - - PowerPoint PPT Presentation

Building the Next Metropolitan Centre

Surrey’s Economic Strategy 2017-2027

Presented to:

SBOT

June 13, 2017

Many curious questions (!!) >1 Year + $1 million 200+ Answers

In Search of Excellence

Reinforcing a Metropolitan Identity

Not Creating a New One

• Knowledge Economy
• Talent
• Vibrancy
• Diversity
• Investment
• Social/ Environmental

Leadership

• Modern Infrastructure

The presence of high- quality knowledge sources The ability to mobilize socio-economic players The availability of a skilled labour force A high quality

• f life

Modern and efficient public infrastructures Access to varied funding sources Openness to the world and tolerance for differences

Metropolitan Centre for 2 Regions America’s Gateway to Metro Vancouver

Metropolitan Centre Identity

Globally Minded, Regionally Connected.

Metropolitan Centre Identity:

City of Cities - A Story of Diversity & Youth

Metropolitan Centre Identity:

A Strategic Beachhead & Transaction Hub

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.

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.

Strategic Focus Areas & Objectives (Scalable)

People, Process, Technology

4 Flagship Programs, 20 Initiatives

Investment Attraction

“To attract investment to unlock transformative city building

• pportunities”

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”

Investment Attraction Priorities:

Transformative Business Infrastructure

“Infrastructure investment

• pportunities are

found at the convergence of

• verlapping trends

and synergistic initiatives…"

Entertainment / Lifestyle Digital and Information, Communication Technology Smart Cities Infrastructure Transportation & Logistics Research & Development / Innovation

Investment Attraction Priorities:

Transformative Business Infrastructure

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

Demographic/ Social Environmental Policy Priority Legal Economic/ Resource Timeframe Other Considerations

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

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

Innovation in Surrey

Transformation for all.

Innovation Economy

Not just assets, but an innovation ecosystem.

Over the past 5 years,

• ver $285 Million in

Innovation Ecosystem Investments have been deployed in Surrey.

Building Our Conferencing Assets

INDUSTRY 4.0

Canadian Manufacturing Competitiveness

INNOVATION BOULEVARD

Smart Cities & Health Technologies

GREATER VANCOUVER CLEANTECH CHAMPIONSHIP

Celebrating regional clean technology Leadership

INVEST SURREY OPPORTUNITIES SUMMIT

The forum for deal making in Surrey

Building Distinct & Competitive

Business Communities

80% of economic growth comes from existing businesses.

Opportunity Analysis

Expansion Retention Succession Planning

Capacity Building a Necessity

Building Canada’s Economy in BC.

– One of the largest number of companies awarded contracts in the region. – Account for 5.2% ($8.6Mil )

• f the total $165M supplier

market. – Expansion & attraction.

National Shipbuilding Strategy 41 companies in Surrey awarded contracts:

BIZ SPARK Surrey: Business Visitation Program (D3M)

3 Year Target: 500 Visits

BUSINESS RELATIONSHIPS

Measurements & Data

Workforce Development

From a talent exporter to a talent importer

73% percent of surveyed companies in Surrey’s priority sectors have talent attraction challenges.

0% 8% 15% 23% 30% Langley's Delta Vancouver Tri-Cities Fraser Valley Burnaby White Rock New Westminster Richmond Maple Ridge North Vancouver Pitt Meadows

Where do Surrey workers come from?

Developing the Targets & Econometrics

• Economics data for Surrey

is difficult to obtain

• Need to create the

baselines

• 21st century solutions to a

generation-old challenge.

• Econometrics & Research

Analyst for D3M

Thank You

Stephen Wu Manager, Economic Development swu@surrey.ca l 604-591-4333