We are living in a knowledge-based, new economy, hallmarks of which include:

• Creativity-centred, not product-centred
• Design-based rather than development-based
• Human capacity over power and energy
• Place creates the economy vs economy designed to fit the place
• Agglomeration of clusters vs clusters as base

Communities need to be creativity centres, not product centres. Old town centres were established for industrial activity, not for vibrant community. Places need to incubate productive social activity, not just business/industrial activity.

Factors of Globally Competitive Regions

• Cosmopolitan character (not merely international). For example, New York City - a world hub, but also an integration of cultures; versus Tokyo - an international city, but still very Japanese in character.
• Business people want to come to share in the dynamism and growth of the place. A global labour force is attractive for product and service providers.
• People are crucial. Can Australia consider itself "in surplus" when it has cut back on investing in its people? E.g. skills (esp. engineering skills) shortages and university funding cutbacks.
• A regional financial services centre, not confined to the CBD, but distributed throughout the city. Suburbs and surrounding areas are economic hubs, not just residential centres.

Developing a Globally Competitive Region

• Re-engage in "building community" and civic participation. Create the places that people can use to create new jobs. Every community should be a knowledge space (wired), live-work space, "work-communi-space". These combined purpose spaces act as incubator communities.
• Every village needs to be part of the new economy, not just the centres.
• There should be no wasted spaces - all integrated into the fabric of the city.
• Understand the population and how you service it. New clusters: service cluster, technology cluster, education/human capital cluster.
• Put economic activities into a distinctive package for your community - a real identity that is well and widely recognised. Intellectual and attractive resources that are so distinctive that people want to come.
• Put social and human capital together - to be cultural districts. Not just business and employment districts, but cultural/arts districts.
• Tele-community infrastructure needed in Australia. Use strip centres as tele-centres, to make home office less lonely.
• Opportunities for people to meet and talk - the "coffee-talk" economy. Arts and performance talent are important.
• Uniform planning processes with a regional, not just local focus.
• Planners need to work with rather than against development - say "yes". Planning should encourage business and dynamic development, not stopping it.