Building the Next
Metropolitan Centre
Surrey’s Economic Strategy
2017-2027
Presented to:
SBOT
June 13, 2017
In Search of Excellence
Many curious questions (!!)
>1 Year + $1 million
200+ Answers
Reinforcing a Metropolitan Identity
Not Creating a New One
• Knowledge Economy
The presence of highquality knowledge
sources
The ability to mobilize
socio-economic
players
• Talent
A high quality
of life
The availability of a
skilled labour force
Access to varied
funding sources
• Diversity
• Investment
Openness to the
world and tolerance
for differences
Modern and efficient
public infrastructures
• Vibrancy
• Social/ Environmental
Leadership
• Modern Infrastructure
Metropolitan Centre Identity
Globally Minded, Regionally Connected.
Metropolitan Centre for 2 Regions
America’s Gateway to Metro Vancouver
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
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
Innovation
Economy
“To create one job
for every resident
worker through
retention, attraction,
and development.”
“To become a
nationally recognized
innovation centre
within the next
decade”
4 Flagship Programs, 20 Initiatives
Investment Attraction Priorities:
Transformative Business Infrastructure
“Infrastructure
investment
opportunities are
found at the
convergence of
overlapping trends
and synergistic
initiatives…"
Investment Attraction Priorities:
Transformative Business Infrastructure
Entertainment /
Lifestyle
Digital and
Information,
Communication
Technology
Smart Cities
Infrastructure
Transportation &
Logistics
Research &
Development /
Innovation
Investment Attraction Priorities:
Surrey Investment Evaluation Matrix System (SIEMS)
• Weighted ranking
system
• Deal-driven, but flexible
Demographic/ Social
Environmental
• Consistent quality
customer experience
• Clarify staff expectations
• Evidence-based
resource allocation
Legal
Policy Priority
Economic/ Resource
Other Considerations
Timeframe
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,
over $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
INVEST SURREY
OPPORTUNITIES
SUMMIT
GREATER VANCOUVER
CLEANTECH
CHAMPIONSHIP
The forum for deal making in
Surrey
Celebrating regional clean
technology Leadership
Building Distinct & Competitive
Business Communities
80% of economic growth
comes from existing
businesses.
Expansion
Retention
Succession Planning
Opportunity Analysis
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.
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.
Where do Surrey workers come from?
30%
23%
15%
8%
0%
Langley's
Delta
Vancouver
Tri-Cities
Fraser Valley
Burnaby
White Rock
New Westminster
Richmond
Maple Ridge
North Vancouver
Pitt Meadows
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
[email protected] l 604-591-4333