Workability means accelerated economic development.
Creating world-class infrastructure. Businesses weight the efficiency and reliability of city infrastructures when they make their investments. They have many options. Why locate in city A, when nearby city B has a more efficient transportation network, a more reliable and cost-effective energy grid, or a more advanced law enforcement program? Cities that have optimized their infrastructures are more attractive investment locations.
Protecting business from cybercrime. Hacking and theft are serious risks to businesses. A 2012 study reported that incidents of cybercrime doubled over the last three years, while their financial impact rose by 40%. Enforcing cybersecurity as described in this Guide will help city government achieve safety and resiliency, and create trust for companies contemplating a move to your city.
Unleashing innovation. Cities that free up their data via Open Data or similar programs will unleash the power of people on their data sets and benefit from new ideas. Data is a valuable and profitable resource that can fuel innovation and invention, thereby creating new businesses, revenue streams and jobs.
Creating a “recruiting tool” for attracting talent and jobs. Increasingly mobile businesses and professionals are attracted to cities that have a strong, compelling vision for a better future.
Supporting skills development. According to a 2012 study, despite the relatively high unemployment rate in the United States, 49% of employers reported having difficulty in filling science, technology, engineering and mathematics (STEM) jobs. City-supported skill development can be an enormous draw to businesses looking for specialized talent.
Sustainability is how smart cities provide necessary and desirable services in a way that doesn’t deplete resources.
Reducing resource use through optimization. The optimization gains from analytics and improved planning mean that cities, their businesses and their residents consume fewer resources. By harnessing the power of ICT, smart cities can curb the theft of resources and deliver a better future for generations to come.
Enabling a broad selection of technology choices. Cities that pursue interoperability in their smart technology investments will save money by being able to pick from the widest variety of solutions possible.