Cork City as a Magnet City
A city with a strong magnetic pull draws in new residents, visitors and business investment. It has an identity, cultivates new ideas, and generates finance to investment. Cork City reflects many of these characteristics.
Magnet cities attract wealth creators
Magnet cities undergo constant physical renewal
Magnet cities have a definable city identity The identity of a city reflects the values, interests, skills and behavioural tendencies of its residents
Magnet cities are connected to other cities Businesses grow, exports and supply chain imports become cheaper and labour pools expand
Magnet cities cultivate new ideas
Magnet cities are fundraisers
Magnet cities have strong leaders
Cities draw upon the strengths of their past and present to attract specific groups, groups that share a natural affinity with the city
Undergo constant physical renewal, ensuring the city
Culture and heritage of the city, mix of residents and physical cityscape all contribute to a culture that cultivates and supports new ideas
And the most progressive magnet cities offer their own risk capital to attract investment and funds
Relatively inflexible about changes to the future vision for the city once it is agreed, but extremely flexible about the steps involved
remains fresh and innovative and can
accommodate the future needs of their citizens.
Relevance to the city centre
Cork City Centre shares a range of characteristics with those of magnet cities. A number of key characteristics stand out: 1. The City has seen an uplift in development in recent years, with physical renewal having been completed across transport, walking, cycling, and public realm schemes, with renewal likely to increase in the coming years through investments in the Grand Parade Quarter (new library, park, public realm), improvements at MacCurtain Street, and developments at the Beamish & Crawford Quarter, the Crawford Gallery and the Butter Exchange at Shandon, amongst others
2. The City Council shows leadership and has been successful at fundraising, securing significant investment under the URDF programme for investment, as well as coordinating relevant bodies and communicating with communities and stakeholder groups 3. The City, broadly, is a leader at cultivating new ideas, through its HEIs, research centres, and private firms. In addition, the city is attractive to diverse groups in society, has a relatively strong identity, is connected to other cities, and has strong leadership. However, improvements can be made across each of these themes.
Source: KPMG, The Future of Cities (2016)
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