Mayor Watts presented her annual State of the City address to the Surrey Board of Trade this afternoon. One of her major initiatives this year will be to implement the second phase of last year’s Economic Investment Action Plan, which includes six programs/strategies:
- Build Surrey
- Clean Energy Hubs
- Business Incubator Areas
- Strategic Partnerships
- Creating Efficiencies
- Economic Investment Zone Extensions
Build Surrey
The City will spend approximatively $470 million in the next three years under Build Surrey, a program which is intended to correct the civic facility deficit, due primarily to the massive population growth in the past decade. It includes new swimming pools, recreation centres, and parks. The City says the program will create 4630 jobs.
Additionally, the City is touting the $5 billion worth of provincial and federal projects currently underway, including the South Fraser Perimeter Road, the Port Mann/Highway 1 expansion, the expansion of Surrey Memorial Hospital, the new RCMP E-Division HQ, and the Pre-Trail Services Centre. Those projects are estimated to create 29,600 jobs.
Clean Energy Hubs
Through partnerships and tax incentives, the City plans to become a hub for the development of clean energy technologies. To encourage industries to locate in Surrey, the City will eliminate property taxes for three years for these businesses; reduce their building permit fees by 50%; and reduce their business license fees to $1 for their first three years.
In addition, City is currently in negotiations to build a biofuel facility, which will convert organic wastes into biofuel. To complement this facility, a new regional Eco-Centre, where people can drop off recyclables and compostables, is already planned for construction in Surrey. As well, the City is exploring opportunities to introduce a district energy heating system in the City Centre, the likes of which has already been built in North Vancouver’s Lonsdale community.
If that wasn’t enough, the City will also apparently apply “green wall” technology to some civic facilities. Translation: trellises on walls with plants.
Business Incubators
The City is expected to partner with various stakeholders to establish business incubator areas, which provide entrepreneurs additional resources to enable the commercialization of products. Several communities in Canada have establish such areas; perhaps the best example is the MARS district in Toronto.
It was previously reported that the City anticipates working with Kwantlen Polytechnic University on this initiative, as outlined in their recently signed Memorandum of Understanding.
Partnerships
In addition to the aforementioned KPU MOU, and the SFU MOU from 2008, the City has signed a Letter of Intent with SFU and Powertech, with the goals of developing and implementing SFU Energy Systems Engineering programs and creating a clean energy incubation centre at Powertech.
Efficiencies
The City announced it will review all its regulations, processes and procedures to ensure the removal of antiquated red tape.
Investment Zones
Last year, the City established two investment zones – City Centre and Bridgeview – in which various tax incentives were implemented to encourage development. According to the data, there are currently 12 projects in the approval process for the incentives, which combined total over $1 billion in construction.
The program will be extended for one more year. In the City Centre, business developments valued at over $10 million will be granted no property tax for three years, development cost charges reduced by 30% or deferred, building permit fees reduced by 50%, and density-bonsuing waived. High density residential projects valued at over $25 million will receive building permit fees reduced by 50%, density-bonusing waived, and development cost charges deferred.
In Bridgeview, all projects valued at over $5 million are granted no property tax for three years, deferred development cost charges, and a 50% reduction in building permit fees.
