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GLOBAL CITIES INITIATIVE A JOINT PROJECT OF BROOKINGS AND JPMORGAN CHASE Seattle, WA / April 10, 2014 @bruce_katz #globalcities
| Date post: | 12-Nov-2014 |
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Economy & Finance |
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GLOBAL CITIES INITIATIVEA J O I N T P R OJ ECT O F B R O O K I N GS A N D J P M O R GA N C H AS E
Seattle, WA / April 10, 2014@bruce_katz #globalcities
7.4 millionjobs needed
More Jobs
81 millionpoor or near poor in 2000
More Jobs & Better Jobs
107 millionpoor or near poor in 2011
More Jobs & Better Jobs
HUMAN CAPITALINNOVATION
MANUFACTURING
INFRASTRUCTURE
STEM
ADVANCED ENERGY
EXPORTS
R&DOPPORTUNITY
CONSUMPTION
DEBTCONSUMPTION
DEBTDEBTCONSUMPTION
CONSUMPTION DEBTDEBT
CONSUMPTIONDEBT
Pre-Recession Economy Next Economy
The imperative for global engagement
1 2 3
1
2 3
Metros are centers of global trade and investment
1 2 31
2
3
1 2 31 2
3 Metros are engaging globally in new ways
METROINNOVATION
The imperative for global engagement
1 2 3
1
2 3
2009
Global GDP
19.9%US
21.0%BIC Countries
Source: International Monetary Fund, World Economic Outlook Database, April 2013
2018
Global GDP
28.2%BIC Countries
17.6%US
Source: International Monetary Fund, World Economic Outlook Database, April 2013
Global Metro Population
2009
50%
Global Metro Population
2030
60%
Source: UN Department of Economic-Social Affairs, World Urbanization Prospects, 2009
Source: UN Department of Economic-Social Affairs, World Urbanization Prospects, 2011
31%
China Africa
49% 39%
India
Urban Share of Total Population2010
Source: UN Department of Economic-Social Affairs, World Urbanization Prospects, 2011
China Africa India
+297 million by 2030
+227 million by 2030
+343 million by 2030
40%69% 48%
Urban Share of Total Population2030
Source: Boston Consulting Group, “Winning in Emerging Market Cities,” (2010)Photos: Wikipedia/Jonathan Olsson, Jeet221990, Flickr/United Nations Photos, Francisco Anzota
$30-$40 trilliontotal infrastructure investment required in emerging market cities, 2010 - 2030
Source: Boston Consulting Group, “Winning in Emerging Market Cities,” (2010)Photos: Wikipedia/Jonathan Olsson, Jeet221990, Flickr/United Nations Photos, Francisco Anzota
$13.8 trilliontotal housing investment required in emerging market cities, 2010 - 2030
Source: McKinsey Global Institute, “Urban World: Cities and the Rise of the Consuming Class,” (2012)
$200 billiontotal investment in increasing global port capacity by 2025
5,000$1 billion increase in exports supports
jobs
11%wage premiumin exporting firms
Greater likelihood of health and retirement benefits in export-intense industries
22%wage premiumin foreign-owned firms
14%US productivity growth contributed by foreign-owned firms
5.0%foreign-owned firms employ
US workers
How are we doing on trade and investment?
billionUS manufactured exports 2010
$944
Japan
$680$944
United States GermanyFrance
$409
China
$1477
$1091
Top Manufacturing Exporting Countries2010, Billions
Source: World Trade Organization, 2011
$358
ServiceImports
ServiceExports
$518
US Service TradeBillions, 2010
$160 billiontrade surplus
Source: World Trade Organization, 2011 (Data reflect Commercial Services)
Exports Share of GDP2010
13%
United States
29% 22%
15%
30%
Japan
China Canada India
European Union
15%
Source: Brookings analysis of WTO and EIU data, 2011
France
$1.09
$3.93
United StatesChinaBelgium
$1.01
United Kingdom
$1.32$2.26
Top Foreign Direct Investment Stock2012, Trillions
Source: Brookings analysis of NETS, D&B, Moody’s and BEA data
US Share of Global FDI Flows
24.7%
1998
10.9%
2013
Source: Brookings analysis of NETS, D&B, Moody’s and BEA data
Can we realize the potential of global markets?
Advanced Industries
Innovation Human Capital Infrastructure
Software Computer Systems Design
Telecommunications R&D Consulting Services
Services
Pharmaceuticals AdvancedMachinery
Medical EquipmentMotor Vehicles & Parts
Computer & Electronic Devices
Aerospace
Manufacturing
Advanced Industries
85%advanced industry share of private sector R&D
67%advanced industry share of patents
30%advanced industryshare of engineers
Sources: Brookings analysis of BRDIS, Strumsky-Lobo Patent Database, and OES data
Advanced Industries
Drive Productivity in Other Industries
Stimulate Local Economies
Support LongSupply Chains
Develop Technology that Transforms Lives
Advanced Industries
Advanced Industries
Innovation Human Capital Infrastructure
Japan
3.5% 4.4%
France United States
United Kingdom
3.1%
European Union
5.0%3.8%
Germany South Korea
China
5.5%
10.9%
20.7%
Growth of Domestic R&D ExpendituresAverage Annual Growth, 2001-2011
Source: National Science Foundation, SEI 2014
Innovation
Advanced Industries
Innovation Human Capital Infrastructure
Source: US Census Bureau, 2010 American Community Survey
Hispanics
19%
African Americans
Non-Hispanic Whites
Asians
25%39%
56%
Educational AttainmentAssociate’s Degree or Higher
United States
36%
Human Capital
Source: US Census Bureau, 2010 American Community Survey
Hispanics
19%
African Americans
25%
Educational AttainmentAssociate’s Degree or Higher
Human Capital
Advanced Industries
Innovation Human Capital Infrastructure
Infrastructure
Transport Networks are Clogged and Congested
Metros are centers of global trade and investment
1 2 31
2
3
Source: Brookings analysis of US Bureau of Economic Analysis data
Seattle Metropolitan Area
Source: Brookings, Metropolitan Areas and the Next Economy (2011)
Population
63%
GDP
51%
Washington
Seattle, Portland, Spokane, Olympia, Kennewick-Pasco-Richland, Bremerton-Silverdale, Yakima, Bellingham, Mount Vernon-Anacortes,
Wenatchee, Longview and Lewiston Metropolitan Areas
Source: Brookings, Metropolitan Areas and the Next Economy (2011)
Population
92%
GDP
88%
Washington
Service Exports
75%63%
Manufacturing Exports
Population
66%
Top 100 Metro ExportsShare of U.S. Totals
Source: Brookings, ExportNation 2012
Top 100 Metro Exports
Chemical Products
68% 76%
Business/Professional
Services
Computer/Electronic Products
78%
Population
66%
Share of U.S. Totals
Source: Brookings, ExportNation 2012
Top 100 Metro International Connectivity
Air Cargo
83% 83%
Water Cargo Air Passengers
96%
Population
66%
Share of U.S. Totals
Source: Brookings, Global Gateways (2012) and Metro Freight (2013)
Population
66%
Advanced Industry
Employment
74%
FDI Employment
74%
Employment in Advanced Industries and Foreign-Owned Firms
Top 100 Metro Share of U.S. Totals
Aerial imagery: © DigitalGlobe, GeoEye, Sanborn, USGS, USDA FSA, warrior481.blogspot.com
Aerial imagery: © DigitalGlobe, GeoEye, Sanborn, USGS, USDA FSA, warrior481.blogspot.com
Seattle, WA - Human Capital & Innovation Dashboard
Education
Top 100Metros
SeattleMetro
Bachelor’s Degree Attainment
31.8%37.0%
STEM Jobs
25.9%Share of Jobs in STEM
4th of Top 100 Metros
38.5%STEM Jobs Not Requiring BA
97th of Top 100 Metros
Patents
3,968Total Patents,
2007-2011
5th of 358 Metros
2.3Patents per 1k Workers
15th of 358 Metros
Top Patenting FirmsMicrosoftBoeing
Invention Science FundIntel
University of Washington
Source: Brookings, State of Metropolitan America (2012), The Hidden STEM Economy (2013) and Patenting Prosperity (2013)
Source: Brookings, ExportNation (2013)
$47.1 b
Top 100Metros
SeattleMetro
Export Intensity
12.7%
20.3%
Export Value
Goods & Services Exports
25.1%goods share of exports
74.9%goods share
of exports
Top Goods SectorsTop Goods SectorsAircraft Products and Parts 57.4%
Petroleum and Coal Products 2.3%
General Purpose Machinery 1.6%
Top Services SectorsTop Services Sectors
IT Royalties 8.3%
Freight and Port Services 1.7%
Air Transportation Services 1.5%
Seattle, WA - Export Dashboard
Source: Forthcoming Brookings research on metropolitan FDI
Foreign Direct InvestmentJobs
65,045FDI Employment
14th of Top 100 Metros
Top Foreign Employers Metro-to-Metro Investment
Wireless TelecommunicationsT-MobileSuncom
TritonPowertel
AerospaceC&D Zodiac
IDD AerospaceJamco
Compass-Aerospace NW
Computer Systems Design
NCSoftAtos IT Solutions
AvandeAreva T&D
Top Investor Metros by JobsTop Investor Metros by JobsTop Investor Metros by Jobs1 Dusseldorf, Germany 13.4%2 Tokyo, Japan 12.7%3 Paris, France 7.8%4 Montreal, Canada 6.1%5 Toronto, Canada 4.6%6 Vancouver, Canada 4.6%7 Sydney, Australia 3.9%8 Oxford, England 3.5%
Seattle, WA - Foreign Investment Dashboard
4.6%FDI Employment
Intensity
57th of Top 100 Metros
Source: Brookings, Global Gateways (2012) and Metro Freight (2013)
$185.3 b
Top 100Metros
SeattleMetro
International Trade Share
15.8%20.8%
Total Goods Trade
Goods Trade Air Travel
International Passengers
13th of Top 90 Metros15th of Top 100 Metros2,748,861
Top Metros of Origin/DestinationTop Metros of Origin/DestinationTop Metros of Origin/Destination1 Seoul-Incheon, South Korea 5.0%2 London, United Kingdom 4.6%3 Tokyo, Japan 3.9%4 Victoria, Canada 3.9%5 Vancouver, Canada 3.8%6 Puerto Vallarta, Mexico 3.2%7 San Jose Del Cabo, Mexico 3.1%8 Beijing, China 2.6%
Top Global Country/Region Trading Partners
Top Global Country/Region Trading Partners
Top Global Country/Region Trading Partners
1 China 5.6%2 Japan 2.4%3 Canada 2.2%4 Mexico 1.7%5 Other South-Eastern Asia 1.2%6 Other Western Asia 1.0%7 South Korea 0.9%8 Other Northern Europe 0.7%
Seattle, WA - Freight & Air Dashboard
1 2 31 2
3 Metros are engaging globally in new ways
METROINNOVATION
Catalyze Trade & Investment
Legacy of Global Orientation
Seattle as a Globally Competitive Region
Market AssessmentTarget Sectors
8% 9%12%
Economic Profile15%
12%
13%
9%
Establish Goals & Strategies
Boost SME exportsIncrease global fluency
Double exports Support key sectors
Government
Philanthropy
Firms
Universities
Collaborate to Compete
Global Cities Exchange
BrandingGlobal Cities Exchange
PORTLANDWEBUILD
GREENCITIES
I amsterdam
Catalyze Trade & Investment
Invest in What Matters
CHICAGO$70 million
Digital Manufacturing & Design Innovation Institute
Lightweight & Modern Metals Manufacturing Innovation Institute
DETROIT$70 million
National Additive Manufacturing Innovation Institute
YOUNGSTOWN$30 million
Innovation Human Capital Infrastructure
National Network for Manufacturing Innovation
Next Generation Power Electronics Manufacturing Innovation Institute
RALEIGH$70 million
Innovation Human Capital Infrastructure
Innovation Human Capital Infrastructure
PORTMIAMIExpansion and improvements
PORTMIAMIInnovation Human Capital Infrastructure
Deep Dredge Project $220 million project, funded solely through state & local resources
Port of Miami TunnelInnovative public-private partnership
Intermodal Rail Reconstruction Project Financed with competitively-awarded federal funds to a partnership of the port, county & railway
Catalyze Trade & Investment
Invest in What Matters Network Globally
Chicago
Mexico City
Chicago
Mexico City2nd largestMexican immigrant population resides in Chicago metro area
130Chicago-based firms with operations in Mexico City
$1.7 billiontotal bilateral trade of locally produced products
290,000tourists and business travelers between Chicago and Mexico City per year
GLOBAL CITIES ECONOMIC PARTNERSHIP
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GLOBAL CITIES INITIATIVEA J O I N T P R OJ ECT O F B R O O K I N GS A N D J P M O R GA N C H AS E
Seattle, WA / April 10, 2014@bruce_katz #globalcities
