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ECONOMIC OPPORTUNITIES FOR ALL

Inside Business
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PRINCIPLE 5: ECONOMIC OPPORTUNITIES FOR ALL

TCWNN IS ECONOMICALLY VIBRANT AND PROVIDES OPPORTUNITIES FOR ALL.

1. TCWNN incorporates the collective well-being of the city and its environmental sustainability into its vision and strategy for economic growth, acknowledging the shift needed to build shared prosperity. It embraces circular economy solutions, sustainable innovations, and climate resilience to generate inclusive prosperity. It takes full advantage of economies of scale and agglomeration to design and implement policies and strategies that improve livelihoods.

2. TCWNN recognizes that healthy urban and rural economies are not only of equal concern, but inter-connected and economically mutually interdependent. Thus, TCWNN intentionally strives for stronger interdependence and complementarity of these economic geographies.

3. TCWNN encourages and fosters local economic development from small enterprises to large corporations. It provides a level playing field, especially for micro-, small-, and medium-sized enterprises, which are key engines of economic growth.

4. TCWNN recognizes that the informal sector of the economy provides an important source of livelihoods and other contributions for the urban poor and especially for women. It ensures dignity, protection and rights for all those involved in the informal economy

5. TCWNN recognizes the role and potential of the shared economy both as a means to make public services more affordable and accessible and to promote local economic development.

6. TCWNN is guided by policies, focused on inclusion and vibrant economic activity, that incentivizes optimal mixed use of the built environment.

7. TCWNN supports affordable opportunities for housing, jobs, and services, fostering the right to the city for all.

8. TCWNN recognizes that continued learning and re-skilling is required by new and existing workers to adapt to frequent changes in the world of work.

9. TCWNN provides infrastructure and services which enable everyone, including women and people with disabilities, to have good access to jobs and business opportunities.

10. TCWNN understands the role that the solidarity economy plays in ensuring social and economic justice for all.

PRIORITY ACTIONS

1. Facilitate sustainable innovation and inclusive prosperity and promote the right to decent work, livelihoods and shared prosperity through skills development, job training and policies that support non-discriminatory employment through public private, and civil society collaborations.

2. Expand investment in quality education and workforce development to foster job creation.

3. Develop incentives to increase job creation and upskilling, including creation of economic development zones, apprenticeship programs, on-the-job training opportunities (including focus on youth, women and other vulnerable under-employed populations), and innovative programs that will foster broader access to economic opportunity.

4. Expand investment in sustainable infrastructure and services to increase access to all and support livelihoods.

5. Increase the bankability of infrastructure investment and public-private partnerships by prioritizing the development of feasibility studies in urban infrastructure with these as included criteria.

6. Increase sub-standard housing upgrading programs as part of post-pandemic recovery plans and incorporate, in addition to health and safety measures, fuel switch strategies that end fossil fuel dependency for cooking and heating, as well as other green strategies that reactivate productive green activities, such as greywater paired with permaculture, to support food sovereignty and the circular, solidarity, and care economies.