Prince Edward County council received a presentation regarding the growth of the Hastings/Prince Edward County area during its meeting on Tuesday.
Managing Partner of Planning & Land Economics, Jamie Cook, presented a report based on data from Statistics Canada and forecasts from Watson & Associates Economist Ltd.
Conclusions of the report were divided into three categories:Â Economic Drivers of Population Growth, Residential, and Single/Upper-Tier Population and Housing Outlook.
Under Economic Drivers, Cook outlined that population growth in the Hastings/PEC regional area would be driven by higher federal immigration targets and relatively stronger regional economic conditions.
It was also forecast that jobs would increase by 17,000 in the area between 2023 and 2051.
For Residential, Cook says the permanent population is forecast to increase from 173,200 in 2021 to 223,000 by 2051. This would represent an increase of under 50,000.
The 75+ population was said to be increasing significantly faster than the total population which would put an increased pressure on seniors’ housing, affordable housing and community and social services geared to seniors.
Under Single/Upper-Tier Population and Housing Outlook, the share of the population in the County is expected to stay relatively stable from 2021 to 2051.
A link to the presentation can be found here.
