January 10, by Charles Marohn. Photo from Wikimedia. Lafayette, Louisiana, has a population of aroundThat makes it about the th largest city in the country; not really big but not really all that small. It has a unique culture and geography, but the layout and design of the city are very ordinary American. Get outside of the core downtown and surrounding neighborhoods to visit the strip malls, big box stores and residential subdivisions and Lafayette looks like any other city you’ll pass. I stress its unremarkable citiees not to denigrate it in any way — I love the city and I have a special fondness for the people of Lafayette — but to help connect you, the hoe, to a shared plight. Except for a small handful of North American cities — literally five or less — Lafayette provides an insight into why your city has no money.
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Stuart Taylor. As cities around the world grow in size, we are beginning to see that strained resources, infrastructure, and services are causing natural limits to urban growth, which in turn limits the economic growth opportunity. To combat this, cities as diverse as Barcelona, Nice, Kansas City and Songdo in South Korea, are starting to leverage advanced technologies and data analysis to create smart, connected cities. These cities, and others around the globe, are building out new digital services such as smart lighting, traffic, waste management and data analytics to reduce costs, tap new sources of revenue, create new innovation business districts and improve the overall quality of urban life. Not only will the creation of smart cities generate huge value for the cities and their inhabitants, but great opportunities will also exist for the vendors and partners who help to create and operate these digitally smart cities of the future. However, the question is where and how can partners such as infrastructure providers, technology and services companies, and communication providers participate? And, what types of revenues can they generate from helping to create smart cities? Based on our extensive experience in creating and supporting smart cities around the world, Cisco has identified a number of essential ingredients required to deliver and run a successful smart city. The Cisco Smart City Business Architecture categorizes a set of requirements in a number of different business layers, with each layer supporting the layer above and increasing the potential business return as we move up the stack. Starting from the bottom, the layers comprise:. Cities will need vendors and partners to provide solutions and services in each of the different layers of the business architecture to make their smart city initiatives a success. Future blogs will explore how much revenue is available in each of the layers of the business architecture and how providers can best capture it. Tweet us CiscoSPMobility. Starting from the bottom, the layers comprise: Network Connection — connecting all of the solutions, data and applications through fiber backhaul or licensed cellular. Network Access — a managed Wi-Fi , or other unlicensed wireless network, to connect all of the sensors and applications. Smart City Solutions — the combination of devices and applications that deliver the specific solutions, such as smart lighting, parking and traffic management. Platform Monetization — opportunities to leverage the platform and network create new sources of revenue in areas such as advertising, data analytics and subscriptions Shared Operating Platform — a shared platform to consolidate the management, customer care and service issues across all of the solutions. Professional Services — services to support areas such as systems integration, planning and design. Program Leadership — services to program manage the entire implementation, operations and partner ecosystem of the smart city initiative.
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Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world. Cities stand to absorb a major financial hit from the new legislation. For the most part, the substantial reduction in corporate tax rates will mean fewer resources at the federal level to invest in those things—research-inspired innovation, quality infrastructure, skilled workers—that drive long-term economic competitiveness. The corporate tax rate reduction also has the effect of devaluing federal tax credits that have been used to raise private capital for low-income housing, historic preservation, and research and development. But tax reform is only the latest in a long series of fiscal challenges that localities have been dealing with. For the past several decades, higher levels of government have systematically pushed down responsibilities for solving hard challenges and making critical investments without providing a concomitant delegation of capacity or resources. The conventional wisdom is that cities are broke. As we write in The New Localism: How Cities Can Thrive in the Age of Populism this narrow view of cities constrains our ability to see the multiple opportunities for raising capital. We see cities, firstly, as networks of institutions and leaders and, relatedly, as communities that have vast market and civic power that can be tapped. Our book is full of examples of cities that have used private and civic resources to advance key community objectives, such as spurring entrepreneurship or catalyzing redevelopment of critically located neighborhoods.
Washington state & local government revenue sources, Fiscal Year 2016
When citizens think about where local taxpayer money goes, they often assume it pays for things like public safety, snow removal and trash collection — routine operating expenses that come with running any big city. Debt accumulated over many years, contributions to employee retirement systems and the expense of fixing long-neglected infrastructure all take a significant toll. Merritt Research Services provided Governing with data on current debt service, pension costs and other post-employment benefit OPEB expenses for cities with populations exceeding , These three cost drivers collectively averaged nearly a quarter of total governmental fund expenditures in recent years. For the large cities reviewed, the three line items accounted for a median of In some big cities, the increase has been much greater. Consider Jacksonville, Fla. Debt, pensions and OPEB made up less than 20 percent of expenditures there in Since then they have climbed to about 32 percent in recent budgets. As legacy costs continue to rise, cities have less money for public safety, health care and other essential services. The largest legacy line item for many localities is debt. Older cities with outmoded infrastructure typically have to borrow more than newer cities, especially if they operate transit systems or public utilities. But newer cities that need to accommodate growth are also finding that their borrowing costs can rise quickly. Milwaukee is a prime example of this legacy problem. Once pensions and OPEB contributions are factored in, legacy costs accounted for an average of 43 percent of spending over the past three fiscal years, the highest share of any city reviewed. Some states and localities impose strict limits on debt or restrict the purposes for which it can be issued. Boston, which spent an average of 14 percent of its recent budgets on debt service, pensions and OPEB, is one of the cities on the low end of the legacy cost spectrum.
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Adams Mt. Healthy Mt. Contact Subscribe. How can smart cities make money for the community? Tuesday, May 02, Source: TechRepublic. Jon Salisbury, co-founder of Nexigen and creator of the smartLINK networkis one of the driving forces behind making Greater Cincinnati the first «smart» region in the country. In this video from TechRepublic, Salisbury talks about how smart cities can create revenue and become self-sustaining based on looking for projects that add value, cut costs or create profit. Salisbury gives examples like dwta, another kiosk company, that was able to sustain itself because of money being dumped into it but that he says is an ultimate failure because the city couldn’t citiee it. However, linkNYC has been a learning experience for all involved. On the other hand, Copenhagen has a smart city data exchange that works like the stock market, where data is put out there and customers can purchase that data. The companies selling the data receives a cut, and the city of Copenhagen gets a portion of that as well and has become self-sustaining. Recommended Content. Give us your email and we will give you our weekly online magazine. Across Our Network. Source: Detroit Driven.
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