The Global City Region
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As the world economy becomes increasingly globalized, with information, capital, and people flowing seamlessly across international borders, a new phenomenon has arisen that is the embodiment of this new economic reality at the local level: the global city region. As national borders become less distinct, city borders have followed suit. In order to compete in the global economy, cities are increasingly eschewing their borders and realizing that by leveraging their entire region they can provide a more attractive product to ever more discerning international business interests. Global city regions are characterized by a polynucleated structure, with several different centers that offer distinct services. They are increasingly multicultural, as waves of immigrants from neighboring districts and/or countries fall sway to the employment magnet. The instantaneity of communications today ensures, however, that no city is isolated from international cultural and economic forces. In this emerging reality, global city regions must leverage the fundamental changes in the world economy while simultaneously fomenting regional development that is sustainable. They must judiciously utilize all of the structural development tools at their disposal, formulate coherent plans, and involve local communities as much as possible in the decision making process. Above all, they must ensure that they present a high quality, streamlined business environment for international capital and cor
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anchester, England for example). The main problem with this approach is that governments have not often proven to be effective managers of land and property portfolios.
Legislate; or create laws that dictate how development can take place. This can involve strict laws concerning what aspects of land use are permitted by the regional and municipal governments (such as zoning ordinances in the United States) and is almost always a way to control how private land is used. There are two main problems with this instrument. First, it is a much more effective tool when the regional economy is strong and there is pressure to build; when the economy is weak excessive control over private property may cause business to simply locate elsewhere. Second, land use plans typically elevate land prices in the locations that are earmarked for major investment, creating a disincentive to build there.
Incentivize or disincentivize the activities that the government either wants more of or less of. The first major example of this instrument was the Incentive Zoning system implemented in Manhattan in 1975. Developers were exempted from mandatory area ratios in exchange for providing certain benefits to the public, such as building pedestrian
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Some common words found in the essay are:
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Approximate Word count = 6393
Approximate Pages = 26 (250 words per page)
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