As urban populations grow and evolve, there are significant challenges in developing sustainable and inclusive economies that can employ large youth demographics and are resilient to stresses and shocks. The public sector's role differs from city to city, but crucially, governments should aim to provide a suitable enabling environment for business while supporting sustainable growth through aspects such as transport and power infrastructure, information and communication technology (ICT) and high-quality urban environments.
When linking local economic development to wider regional and global networks, there is often a role for Special Economic Zones, Economic Corridors or Industrial Parks which encourage businesses to grow in favourable conditions and cluster together, forming agglomeration economies. These must be considered in the context of interrelated local value chains that form part of a growing economic system for cities and regions.
What can UrbanEmerge provide?
UrbanEmerge works with clients to develop or evaluate industrial development and urban-regional economic development strategies, which aim to discover and promote economic activities with growth and spill-over potential, and create a conducive environment that unleashes agglomeration economies and non-spatial productivity drivers such as innovation, skills, enterprise and competition.
UrbanEmerge also offers business, civic and public sector clients the expertise, theoretical perspectives and world views that help develop cross-cutting urban and regional identity, self-awareness, continuous learning and reflexive governance, all of which are crucial for long-term impact and steering the economy on a high-road trajectory.