Surrey Economic Development
About Surrey
Surrey city is located in the British Columbia province and is part of Vancouver agglomeration. The local coastal climate is characterized by frequent precipitation in winter, thunderstorms in spring, warm summer and cool autumn. The city area includes smooth and hilly regions. The city territory unites several zones, particularly trade, industrial, where light industry enterprises, agricultural industry, residential neighborhoods and forest parks dominate.
Surrey was founded in the last quarter of the 19th century and began to develop in the late 1930s actively. The rise of the economy was associated with the beginning of the Pattullo Bridge construction. In the 1950s, the construction of small living houses for one family actually turned the settlement into the sleeping area of ??Vancouver and Burnaby. But after 20 years, people from other countries and neighboring Canadian provinces were moved here. Due to visitors, the population of Surrey has increased dramatically and now continues to increase.
Surrey is one of the largest industrial centers of British Columbia, with a fast-growing high-tech sector, environmentally friendly energy sector, health, education, agriculture and art sectors.
In 2017, 189 industries were built in Surrey, including 15 on the city hall square. In 2018 in Surrey, the first North American enterprise that produces biofuels was opened.
Agriculture industry
Surrey city contributed to the development and strengthening of the solid culture of the agriculture sector. Approximately one-third of the land is preserved and marked as agricultural land, which is used for local food production, for servicing the growing population of the city and increasing employment opportunities by creating local jobs.
Agriculture continues to revitalize the economy of Surrey. It employs 3300 people or 1.6% of the overall workforce of Surrey. Production is also a sector where products are produced for developed and developing industries.
Health sector
The health sector makes a significant contribution to Surrey's economy. Surrey is a home for nearly 900 health-related enterprises, where the focus is on several subsectors of life sciences, including infectious diseases, marine bio-science, neurology, oncology and regenerative medicine.
Surrey Memorial Hospital is the second largest employer in Surrey with an annual operating budget of $149.2 million, while in the medical organization Fraser Health more than 4100 people work.
Universities
Two major local higher educational institutions, the Simon Fraser University and the Kwantlen Polytechnic University, have received expansion opportunities. In 2002, the University of Simon Fraser invested money, opening a campus in Surrey.
Campus SFU Surrey Campus, which acts as an additional campus, is valid today as a State Research University and helps develop the city.