Surrey Board of Trade Heads to Toronto with Regional Economic Development Agency, Invest Vancouver – June 26-29

The Surrey Board of Trade will be attending the renowned Collision Conference in Toronto from June 26-29 to generate leads, learn, network and increase the global profile of the Metro Vancouver economic region, which includes Surrey. Collision attracts over 35,000 global technology leaders and high potential start-ups for an event that is termed as ‘the Olympics of tech.’

Invest Vancouver President Jacquie Griffiths, ICD.D and Invest Vancouver Management Board members Anita Huberman, Surrey Board of Trade, and Loc Dao, DigiBC – The Creative Technology Association of British Columbia, will be representing Invest Vancouver and the Metro Vancouver region to showcase the region’s incredible potential for tech innovation, exceptional talent, and supportive business environment to a global audience at this event.

Metro Vancouver’s regional economic development collaboration, Invest Vancouver, promotes the entire region’s respective economic assets, works together on solutions to economic challenges, and attracts investment to the region to increase the number of high quality jobs for residents. As part of the Metro Vancouver region, this is of added value to Surrey’s forthcoming renewed economic and jobs plan.

Due to an increasingly competitive global economy, the efforts of urban centres to engage effectively in attracting, retaining, and expanding businesses opportunities, regions must be highly coordinated in order to compete on a global stage of marketing and promotion. Surrey can leverage the work of the regional economic development service and be a part of one unified effort for the promotion of the region to prospective external investments to leverage:
• Expanded base of resources and expertise to pursue (and provide to) business
• Increased capacity to create economic development plans that benefit the entire region
• Enhanced ability to develop long-term, multistage and/or cross-sector business development plans

Given the proven successes of regional economic development organizations in other parts of Canada and the world, it is clear that the numerous benefits of switching to this approach can be achieved.  . It starts with the aligning of assets to support economic development initiatives and projects. Site selectors and corporate decision makers evaluate several key factors on a regional basis before determining the best locations for expansion or new facility projects. These groups do not pay any attention to local governmental boundaries until late in the process. These factors include:

Talent: quality, cost and sustainability
Real Estate: availability, quality and cost
Taxes: rates, structure and how money is invested
Utilities: availability and cost
Regulatory: timeline for approval process and cost
Quality of Place: existing assets and ongoing investment strategy
Infrastructure: quality, maintenance and future plans
Incentives: usability, value and reporting requirements

In order for Surrey to grow its economy, regional collaboration and investment must not just happen when there is a transformational opportunity, but become the standard operating procedure.