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.

1. A glimpse at a new world of work


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.

10. Cornerstones of Regional
Innovation

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.

13. Group Think is good think

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.

15. Framework for the Innovation
Process

16. New Magnet Capacity Building Designed On Local Economic Development
Magnet as the collaboration among small firms. Different nodes of collaboration to
form Sustainable industry cluster in Wollongong
International Markets
Small Creative firms
Global firms
(Content creators)
Problem solving,
(Market Control)
Product supply
experiments of
Social network of
new technology, Distribution channels
creative workers,
Payment
New Local economic
Blue Steel as Brand power
Steel Fabricators, Development Structures
Market information
Software workers
Domestic Markets
16
© 2009 Namji Jung

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

21. Examples of Convergence
New Generation Local Small Firms
Blue Steel
University

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

25. Magnet Infrastructure

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

28. Understanding Brain Pool
The region needs to retain 20 - 34 year old population

29. Re-Inventors
 Using Resources
 Generating Wealth
 Producing Beauty
 Securing the Future

30. New Magnet Incubator

31. Market Positioning
Maps
Models
Bikeways from mean
streets
New Urban Form

32. Re-positioning Economy

33. Education as a new and major industry


34. World Best Information Technology

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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38. Future Proof Neighborhoods

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

42. Mobilecommunity---Community of
networks

43. New Roles and rule s for
Master Builders

44. New Uses for Old

45. Worksharing

50. Community=All Ages and economic classes

51. Rebuilding the Old

52. Vodka Force

53. Home of Past as Museum of
Future

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)

59. Retooling Government:
Public-Private Economic
Development Partnership
Private
Government Sector
Resources Investment
Effective Laws Economic
& Policies Research &
Expertise

61. The future is here