Developing an Innovation City in Sydney

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Urban Economics
By (Name)
Course
Instructor’s Name
Institutional Affiliation
The City and State
The Date
Introduction

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In this paper, emphasis shall be put on the examination of the growth
of Sidney. The growth of Sydney as an advanced based economy majorly
depends on the overall growth and development of cities and the
surrounding regions. However, this has to be foreheaded by the
development of infrastructure and concentration of industries in various
locations. Therefore, for Sydney to be successful in the economy of the 21st
century, its cities are supposed to be accessible and more productive
(Greater Sydney Commission 2017).However, all this can be attained by
making them live-able. Also, Greater Sydney Commission believes that by
creating great cities, they will develop, retain and attract more mobile
organizations and talents that will motivate them to support growth, create
jobs and make innovations. However, all this can be attained by reducing
congestion, poor delivery of services, high housing costs and pollution. It is
therefore believed that the release of the three cities plan will make a new
national focus (Kinesis 2017).
Question (A)
Considering objective 3 ("infrastructure adapts to meet future needs"),
4("infrastructure use is optimized") and 14 ("A metropolis of three cities
integrated land use and transport creates walkable and 30-minute cities")
Sydney is looking at the ways of solving the problem of congestion caused
by public transport means(Greater Sydney Commission 2017). This has to be
solved by increasing the new reforms or through investing in newly

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constructed infrastructure. Therefore, Sydney is developing a trading city
through the following ways;
First, Sydney is looking at becoming more accurate in investing in its
city's infrastructure. This is being considered by prioritizing various projects
that can be in the position to meet high city and economic objectives that is
to say; healthy environments, accessibility, affordable housing, and
jobs(Greater Sydney Commission 2017). Additionally, Sydney is intending at
treating its infrastructure funding as an important investment that is more
than a grant. This will be attained by being involved earlier enough so that
the projects can create greater opportunities for urban development hence
increasing private capital (Australian Bureau of Statistics 2017). Also, Sydney
believes that by putting much focus on financing innovative approaches such
as value capital, its balance sheet will be leveraged and more useful
infrastructure will be delivered very soon (Ekelundet, 2015). Sydney
investment into its infrastructure involves designing infrastructure and
transport that is in line with the need for demand, designing various areas
for recharging of the electric vehicles and accommodate utilities, promoting
the technology of innovation so as to improve service provision and
designing drop-off bays and car parks for storage, logistic hubs, community
uses or depot (Greater Sydney Commission 2017). Additionally, investing in
the city’s infrastructure will involve establishing a financing unit on
infrastructure by working closely with various private sectors in financing
solutions and developing funding so as to attain major government projects.

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This is expected to aid in the creation of integrated project members or
teams from the key agencies and private sector to foster investment in
different landmark projects. Therefore this will be attained through designing
innovative solutions in finance such as leveraging of the balance sheet, the
capture of value for main projects and private partnership (Urbis, 2016).
Second, Sydney is considering establishing a well-established public
transport system or networks such as light and heavy rail, ferries, an active
transport (walking and cycling) and buses which are environmentally
friendly, convenient and efficient for transporting a very large number of
people between and within the cities(Greater Sydney Commission 2017).
This will also help in reducing urban pressure in various transport networks
such as intermodal facilities, seaports, and airports. Therefore, by carefully
managing these infrastructures, their impacts on the neighboring
communities will be cut off (National Australia Bank Group Economics 2016).
Also, Sydney is making sure that it invests in efficient and fast public
transport networks so as to provide the best alternatives to vehicles and also
reduce congestion. This will also create a walkable environment for all road
users. The strategy also involves the use of pricing signals so as to influence
the motorist's choices concerning the route and time that they select to
travel. By using pricing, the demand for public transport systems will be
reduced on travel times (Collier International 2017). However, the decision of
Sydney investing in the public transport systems considers the impact of the
network on the geographical measure for developing the metropolitan