News Release: July 15, 2019
Region of Peel economic outlook remains strong
The Economic Pulse report and Peel’s Economic Dashboard show the Region is poised for continued growth
BRAMPTON, ON. (July 15, 2019) – The Region of Peel’s economic outlook remains strong in 2019. Key highlights of the Region of Peel’s 2018 Economic Pulse report released July 15, 2019, include:
- Peel continues to grow as it remains attractive to new residents and businesses.
- 64 persons per day became residents of Peel between year-end 2016 and 2018.
- Peel’s population will continue to increase to approximately 2 million residents over the next two decades.
The tremendous growth within the Region continues within broad, generally positive, global macroeconomic changes of the past year:
- Global, national and provincial economies grew in 2018, and labour market conditions improved.
- The Canadian unemployment rate declined to a historic low of 5.8 per cent.
- North American trade uncertainties dissipated but broad uncertainties emerged.
Peel remains an attractive place to live and grow. These attributes continue to support growth in key areas of the economy as shared in Peel’s Economic Pulse .
“Peel has a vibrant, growing and increasingly diversified economy with key strategic advantages such as its location in the most vibrant Canadian economic hub and its highly developed transportation network which provides important trade link to the large US market,” said Stephen VanOfwegen, Chief Financial Officer and Commissioner of Finance for the Region of Peel. “These characteristics continued to support growth in Peel as reflected by positive changes in most economic indicators in 2018, making Peel one of the best places to live and invest in Canada.”
The Region of Peel maintains a Triple A credit rating (affirmed by S&P and Moody’s), and is the only municipality to receive Excellence Canada’s Platinum Recognition for outstanding end-to-end systems management and public service delivery.
About the Peel’s Refreshed Economic Dashboard and Economic Pulse
Through the Economic Pulse, and the Economic Dashboard, current and future residents, businesses, investors, partners, stakeholders and academics can access a detailed view of one of Canada’s most vibrant economic drivers. The refreshed online Economic Dashboard is an interactive view of changes in key areas of the economy, including population counts disaggregated by Peel’s three local municipalities (Brampton, Caledon and Mississauga), construction activities, the business sector and the labour market, amongst other important information. Visit the report and dashboard.
The Region of Peel works with residents and partners to create a healthy, safe and connected Community for Life for more than 1.4 million people and 173,000 businesses in the cities of Brampton and Mississauga and the Town of Caledon. Peel's services touch the lives of residents every day. Recognized as a leader in management and service delivery, the Region of Peel is the only government organization at any level to receive Excellence Canada's Platinum Award for Excellence, Innovation and Wellness®. For more information about the Region of Peel, explore peelregion.ca and follow us on Twitter at @regionofpeel.
Specialist, Corporate Communications
Region of Peel
905-791-7800, ext. 4672