4 weeks ago

Long Range Financial Plan

Growth and

Growth and Socio-Economic Indicators Growth and socio‐economic indicators describe and quantify a community’s wealth and economic condition and provide insight into the community’s collective ability to generate revenue relative to the community’s demand for public services. An examination of economic and demographic characteristics can identify, for example, the community’s ability to pay for public services or a need to shift priorities based on demographic changes or changes in economic conditions. 19

Population Population Changes Changes in population directly impact both revenues (assessment base) and expenditures (service demand). Figure 3 provides a summary of historical and projected population changes for the City of Mississauga from 1991 to 2041. Figure 3 - City of Mississauga - Population Changes Mississauga has grown from a population of 463,000 in 1991 to over 760,000 (a 64% increase). This 64% increase in population has resulted in substantial new capital infrastructure which ultimately has to be replaced With a population of approximately 760,000, the City of Mississauga is the sixth largest City in Canada. Population is forecast to exceed 878,000 by 2041 The continued need for additional infrastructure to accommodate this growth will take place at the same time that the existing assets are reaching an age where their renewal/replacement is becoming critical and more costly Peer Municipal Comparisons – Population Growth Figure 4 - Peer Comparison - Population Growth Mississauga’s population growth was above the median growth of peer municipalities from 1991‐2006, but below the median from 2006‐2011 (see Figure 4) 20