Resilient Future Economy

If you were to create a short vision statement for the future of Vancouver’s economy, what would it be?

A resilient future economy for Vancouver is an economy that is inclusive and diverse, regionally coordinated and communicated, tied to innovation across major public and private institutions, and generates enough wealth for the regional population to feel secure and sustain a high quality of life.

On November 7, 2017, the Vancouver Economic Commission and City of Vancouver’s Resilience Team convened a group of private sector stakeholders to develop a collective vision for Vancouver’s future economy and identify the issues we must address in order to realize that vision.

Who’s Contributing to this Vision?

Institutions
Educational Institutions | Major Asset Owners | Major Economic Drivers | Utilities

Objectives of the Resilient Future Economy Session

Prioritize economic risks to address throughout the development of Vancouver’s Resilient City Strategy
Identify information gaps for making informed economic decisions
Uncover the business leaders that are interested in addressing economic resilience
Create market development opportunities for resilience solution providers

What We Heard

What is the biggest opportunity you see for Vancouver’s Economy in the next 20 years?

What is the biggest challenge your organization is likely to encounter in the next 15 years?

The Findings

Recognizing the future is the culmination of the decisions made today, there are four economic development obstacles we need to overcome. They are:

Addressing the Affordability Issue

Addressing Small Town Thinking

Addressing the Rigidity of our Institutions

Addressing Talent Insecurity

Here are a few of the ways we see our economy and community changing:

The Way We Do Business…
will include businesses identifying and working toward a purpose that extends beyond profits.

The Way We Design the City…
will include the integration of more deliberate innovation clusters and technology demonstration projects.

The Way We Build…
will include using community data science to identify and respond to economic risks before they become crises.

The Way We Support People…
will include healthcare & benefits packages that are flexible, easily accessible, and responsive to individual needs.

The Way We Regulate…
will include flexible, responsive policies that are developed and tested through continuous regulatory R&D.

The Way We Work…
will include working with and managing automated systems, vehicles, and robotics.

The Way We Educate…
will include constant re-skilling at all ages to ensure they can keep pace with rapid technological changes.

The Way We Hire…
will include proactive integration of immigrants & refugees, first nations, & women, all being paid equitable incomes.

The Way We Finance…
will include more sophisticated partnerships with the private sector to deliver public infrastructure.

Understand your role in building a Resilient Future Economy

Read the Summary Report