After reading the article by Hallie Kennan and Chris Busch on "How sustainable cities can drive business growth", I was intrigued by the relationship drawn between sustainable cities and economic growth. The concept of sustainable cities often associated with social and environment benefits and has a weaker link to economical aspects.
The article brought out the attention of how sustainable urban design's greatest impact could be on economic performance. One of the greatest challenges for the economy is to attract human talent to the work force. By adopting the model of Smart Growth, the practice could improved quality of life and therefore attracting talented employees.
Research has shown that workforce trend is changing. Companies now aims to seek locations that satisfy both living and working in vibrant neighbourhood. Some of the characteristic they seek are:
- Mixed-use neighbourhood
- Public transit and transit oriented development
- Small block form a connected urban grid
- Public green space
In accordance to study by "Moving California Forward", it indicated significant economic benefits from smart growth including:
- Increase time efficiency
- Access to talent
- Improved health
- Innovation inspired by diversity
To summarise:
"Smart growth" Sustainable city -> improve quality of life -> attracts sustainable businesses -> attracts talented employees -> increase in performance -> economic growth.
Reference:
https://www.greenbiz.com/article/how-sustainable-cities-can-drive-business-growth
http://energyinnovation.org/wp-content/uploads/2015/11/Moving-California-Forward-Full-Report.pdf
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