Presentation by Prof. Edward J. Blakely, University of Sydney, Australia at the OECD LEED conference on "Demographic transition and ageing society - Implications for local labour markets" (Lodz, Poland), 21/-22 March 2013.
4. New Infrastructure Required for Knowledge
Based vs Machine Based Community
1. Place Creating and Generating Infrastructure
2. Human Capital Building Infrastructure
3. Tele-mobility Infrastructure
4. Social Capital Infrastructure
5. New Governance Infrastructure
5. New Economic Development
Four Factor Theory
Human Image
Creative
Firms Institutions
Market Access
Magnet
Infrastructure
Deep Resource Pool
Knowledge Generation
Socio-economic
Regional Equity
Sustainability
Strong Connectivity
internal Global Environmental
Venue Quality
Distinction
6. Theory to Implementation
Ingredients Recipes Results
• Intellectual capital • New ideas • Productivity
• Human capital • Entrepreneurs • Prosperity
• Financial capital • Networks • Cluster vitality
7. Global Producer Services
Dominate Economies
The fastest growing industry clusters were
Information and Communications Services,
Health and Business Services
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8. Shifting Industries
Low cost Knowledge
Quantity Quality
Stability Speed
Capital equipment Flexibility
Control Networks
9. Innovation is a Social Process
Interactive—doesn’t occur in a straight line.
Group creativity—not dependent on a few.
Tacit knowledge—depends on “know-how.”
Networks—ideas flow more freely.
Competition/collaboration—both are needed.
11. Creating Your Demographics
Universities attract
international students
Bounty for job creators
Re-examination of
roles and hierarchies of
centres
Role of New
populations in creating
and sustaining new
economic and
commercial activities
12. Innovation is Place Based
Most innovative work occurs in face-to-face exchange
within teams.
Geographic clustering is a powerful mechanism for
sharing personal knowledge.
The creative heart and soul of the economy will continue
to be tied to place.
Location is still important.
14. The Innovation Process
It’s not the ingredients but the recipe.
What matters most is the ability of entrepreneurs to
connect regional assets and leverage them through the
innovation process to achieve competitive results.
17. Financing the New Knowledge Precincts
Knowledge Space
Live-work Space
Work-Communi-space
18. Regional Leadership Makes the
Difference in Innovative Regions
Build fundamental assets.
Connect entrepreneurs to assets.
Promote a culture of innovation.
Make quality of life an innovation asset.
19. Regional Leadership Makes the
Difference in Innovative Regions
Talent
Technology
Capital
Supportive Infrastructure
Transportation
Housing
Advanced telecommunications
20. New Magnets for Regional Development
Human Image
Magnet
Infrastructure
Deep Resource Pool
Sustainability
22. Capacity Resource of City
Connectivity High quality and reliable Frankfurt, Chicago, Denver
telecommunications, airports, that are global cities primarily
seaports and efficient cross because of their internal and
regional connectivity by public external communication and
and private transportation air transport systems
systems
Strategic Capacity Ability to mobilize public and Atlanta, Boston, Washington
private actors for a common DC, Pittsburgh, Brussels with
agenda able local leadership in public
and private sectors
Innovation/ entrepreneurship Firms organizations lead by San Jose Costa Rica,
creative economic and social Berkeley Calif, Los Angeles,
entrepreneurs with readily Stockholm are incubators or
available venture capital highly innovative talent
27. Connectivity High quality and reliable Frankfurt, Chicago, Denver
telecommunications, airports, that are global cities primarily
seaports and efficient cross because of their internal and
regional connectivity by external communication and
public and private air transport systems
transportation systems
Strategic Capacity Ability to mobilize public and Atlanta, Boston, Washington
private actors for a common DC, Pittsburgh, Brussels with
agenda able local leadership in public
and private sectors
Innovation/ entrepreneurship Firms organizations lead by San Jose Costa Rica,
creative economic and social Berkeley Calif, Los Angeles,
entrepreneurs with readily Stockholm are incubators or
available venture capital highly innovative talent
35. Hallmarks of a New Economy
• Creativity Centered-not product centered
• Design based over development based
• Human Capacity over power and energy
• Place and critical vs incidental
• Place creates the economy vs economy
designed to fit the economy
• Agglomeration of clusters vs clusters as base
37. Global Competition for Work
Regional average pay
peaked in 2000 and has
declined by 6% between
2000-2003. Increasing
number of part time and
casual jobs
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39. High quality both physically
and socially is a necessary
part of the investment
package for infill
developments which means
local government and
developers must be
partners in providing
management during and
post project to insure
success over the long term
of these projects.
High quality management is just as
important as quality buildings
41. • RESEARCH FUNDS (Fed, Fdn)
• TRAINING AND DEVELOPMENT
• PUBLICATIONS AND WEB SITE
• FOUNDATION PROGRAM
SUPPORT
• GROUP ASSISTANCE FEES
57. Financial Tools $$
Economic Impact Analysis with Value Capture Approach
An economic feasibility study of the
project and its effect on the
municipality’s tax base;
A detailed list of estimated project
costs;
A description of the methods of
financing all estimated projects costs
and a cash flow statement;
A map showing existing uses and
conditions of property in the district;
Proposed changes to any zoning
instrument, master plan or other
planning instrument; and
A list of estimated non‐project costs
58. Local Economic Development
Finance System
Not for profit Organizations (NPO)
Community Development Corporations (CDC)
Community Finance Intermediaries
Foundation Investment Groups (PRIs)
Investment Funds and Organizations
Faith Based Organizations (FBO)
Community Development Financial
Institutions (CDFI)