Business-friendly policies are at the heart of Surrey's economic strength.
The City of Surrey received two significant honours in the 2024 NAIOP Awards for Municipal Excellence in February 2025, when awards were announced for "Most Improved — Fees" and "Most Business-Friendly" in a survey that evaluates municipalities on their support for business development and job creation.
The 2024 NAIOP Cost of Business Survey offers annual awards to municipalities that have implemented improvements in development costs and processing times. The survey is a tool for municipalities to use as a gauge for their own development costs and approval processes as compared to their neighbours.
Such awards build on Surrey's reputation as a leader in fostering business development, thanks to the work of Invest Surrey and other organizations.
Invest Surrey has four key functions including Investor Services (focused on developing relationships with key stakeholder groups and investors to attract new investments), Business Engagement (supporting businesses in their expansion or relocation to Surrey), Research & Insights (where analytics and market intelligence on Surrey’s economic and business climate are generated) and Marketing (where the Invest Surrey takes all the work they do, along with insights gained, to drive key messaging about Surrey’s specific advantages).
Surrey is position to be a modern world-class city and a global destination for investment and innovation, with focus on four strategic priorities:
• Investment Attraction and Readiness
• Employment Lands Optimization
• Innovation, Talent, and Workforce
• Local Business, Vibrancy, and Distinct Communities.
Details are found in Invest Surrey's City of Surrey Economic Strategy 2024, called Investing in Our Future: A Roadmap to Realizing the Opportunities of Tomorrow, online at investsurrey.ca.
Surrey Mayor Brenda Locke says the city and council has worked hard to reduce development costs and accelerate approval timelines in Surrey.
"Our focus on creating a more efficient and supportive environment for developers demonstrates our commitment to facilitating growth while making it easier to bring new projects to fruition," the mayor said.
This content is part of the Surrey Economic Development 2025 magazine, produced by Surrey Now-Leader, the Surrey Board of Trade and the South Surrey & White Rock Chamber of Commerce. You can find the full e-edition here.
