Global Cities Initiative Seattle
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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
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7.4 millionjobs needed
More Jobs
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81 millionpoor or near poor in 2000
More Jobs & Better Jobs
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107 millionpoor or near poor in 2011
More Jobs & Better Jobs
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HUMAN CAPITALINNOVATION
MANUFACTURING
INFRASTRUCTURE
STEM
ADVANCED ENERGY
EXPORTS
R&DOPPORTUNITY
CONSUMPTION
DEBTCONSUMPTION
DEBTDEBTCONSUMPTION
CONSUMPTION DEBTDEBT
CONSUMPTIONDEBT
Pre-Recession Economy Next Economy
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The imperative for global engagement
1 2 3
1
2 3
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Metros are centers of global trade and investment
1 2 31
2
3
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1 2 31 2
3 Metros are engaging globally in new ways
METROINNOVATION
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The imperative for global engagement
1 2 3
1
2 3
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2009
Global GDP
19.9%US
21.0%BIC Countries
Source: International Monetary Fund, World Economic Outlook Database, April 2013
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2018
Global GDP
28.2%BIC Countries
17.6%US
Source: International Monetary Fund, World Economic Outlook Database, April 2013
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Global Metro Population
2009
50%
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Global Metro Population
2030
60%
Source: UN Department of Economic-Social Affairs, World Urbanization Prospects, 2009
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Source: UN Department of Economic-Social Affairs, World Urbanization Prospects, 2011
31%
China Africa
49% 39%
India
Urban Share of Total Population2010
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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
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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
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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
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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
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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
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22%wage premiumin foreign-owned firms
14%US productivity growth contributed by foreign-owned firms
5.0%foreign-owned firms employ
US workers
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How are we doing on trade and investment?
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billionUS manufactured exports 2010
$944
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Japan
$680$944
United States GermanyFrance
$409
China
$1477
$1091
Top Manufacturing Exporting Countries2010, Billions
Source: World Trade Organization, 2011
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$358
ServiceImports
ServiceExports
$518
US Service TradeBillions, 2010
$160 billiontrade surplus
Source: World Trade Organization, 2011 (Data reflect Commercial Services)
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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
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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
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US Share of Global FDI Flows
24.7%
1998
10.9%
2013
Source: Brookings analysis of NETS, D&B, Moody’s and BEA data
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Can we realize the potential of global markets?
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Advanced Industries
Innovation Human Capital Infrastructure
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Software Computer Systems Design
Telecommunications R&D Consulting Services
Services
Pharmaceuticals AdvancedMachinery
Medical EquipmentMotor Vehicles & Parts
Computer & Electronic Devices
Aerospace
Manufacturing
Advanced Industries
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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
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Drive Productivity in Other Industries
Stimulate Local Economies
Support LongSupply Chains
Develop Technology that Transforms Lives
Advanced Industries
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Advanced Industries
Innovation Human Capital Infrastructure
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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
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Advanced Industries
Innovation Human Capital Infrastructure
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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
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Source: US Census Bureau, 2010 American Community Survey
Hispanics
19%
African Americans
25%
Educational AttainmentAssociate’s Degree or Higher
Human Capital
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Advanced Industries
Innovation Human Capital Infrastructure
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Infrastructure
Transport Networks are Clogged and Congested
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Metros are centers of global trade and investment
1 2 31
2
3
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Source: Brookings analysis of US Bureau of Economic Analysis data
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Seattle Metropolitan Area
Source: Brookings, Metropolitan Areas and the Next Economy (2011)
Population
63%
GDP
51%
Washington
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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
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Service Exports
75%63%
Manufacturing Exports
Population
66%
Top 100 Metro ExportsShare of U.S. Totals
Source: Brookings, ExportNation 2012
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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
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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)
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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
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Aerial imagery: © DigitalGlobe, GeoEye, Sanborn, USGS, USDA FSA, warrior481.blogspot.com
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Aerial imagery: © DigitalGlobe, GeoEye, Sanborn, USGS, USDA FSA, warrior481.blogspot.com
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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
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$47.1 b
Top 100Metros
SeattleMetro
Export Intensity
12.7%
20.3%
Export Value
Goods & Services Exports
25.1%services 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%
Source: Brookings, ExportNation 2013
Seattle, WA - Export Dashboard
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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
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$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
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1 2 31 2
3 Metros are engaging globally in new ways
METROINNOVATION
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Catalyze Trade & Investment
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Legacy of Global Orientation
Seattle as a Globally Competitive Region
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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
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BrandingGlobal Cities Exchange
PORTLANDWEBUILD
GREENCITIES
I amsterdam
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Catalyze Trade & Investment
Invest in What Matters
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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
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Innovation Human Capital Infrastructure
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Innovation Human Capital Infrastructure
PORTMIAMIExpansion and improvements
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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
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Catalyze Trade & Investment
Invest in What Matters Network Globally
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Chicago
Mexico City
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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
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GLOBAL CITIES ECONOMIC PARTNERSHIP
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Watch on YouTube
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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