GTA is growing; Toronto has stalled
The 905 is experiencing huge growth, especially in places like Milton – Canada’s fastest growing city over the last 5 years
Toronto is Canada’s largest city and its leading city internationally.
In 2007, Toronto was ranked by Foreign Direct Investment magazine as the best North American city for quality of life and placed second behind Chicago as North America’s “Major City of the Future.”
The Economist’s 2007 ranking lists Toronto as the fifth most livable city in the world.
POPULATION AND JOBS
The population of Toronto in 2006 was 2,503,281, up only 0.9 per cent since 2001, far less growth than had been projected.
From 2000 to 2006, the number of jobs in Toronto declined by 1.6 per cent.
Over the past 10 years (1996-2006) natural increase in Toronto’s population (birth minus deaths) has fallen by 49 per cent.
FINANCIAL STATUS
Toronto’s financial position weakened in 2006 as the municipal government continued to contend with a structural deficit estimated at $1.1 billion per year. The city has relied on unsustainable income sources — reserve funds and debt — to balance its budget.
Toronto’s reserve funds, at $537 per capita (in 2005) were already about half the Ontario average and about a quarter of the average in the region. The 2007 budget anticipates a further draw of $278 million from limited reserve funds.
Since 1998, the year of amalgamation, the city’s debt level has doubled and now represents the second largest component of the property tax bill behind police services.
THE REGION
The region as a whole is growing in both population and prosperity.
The region is home to 42 per cent of Ontario’s population and contributes 47per cent of its gross domestic product.
In 2006, the population of the region was 5,113,149, up 9.2 per cent since 2001 (4,682,897).
From 2000 to 2006 the number of jobs in the region excluding Toronto grew by 27.8 per cent.
OVERALL
The region outside Toronto is doing the growing. Toronto appears to have stalled.
ABOUT THE REPORT
Toronto refers to the former Regional Municipality of Metropolitan Toronto, which consisted of the former cities of Toronto, Etobicoke, North York, Scarborough, York and the Borough of East York.
The region refers to the Toronto Census Metropolitan Area, a group of municipalities considered by Statistics Canada “to have a high degree of integration with the City of Toronto.” Almost half of the population of the region resides in the city. The region is an area slightly smaller than the GTA.
The region is comprised of the City of Toronto plus 23 other municipalities: Ajax, Aurora, Bradford, West Gwillimbury, Brampton, Caledon, East Gwillimbury, Georgina, Georgina Island, Halton Hills, King Township, Markham, Milton, Mississauga, Mono Township, Newmarket, Tecumseth, Oakville, Orangeville, Pickering, Richmond Hill, Uxbridge, Whitchurch-Stouffville and Vaughan.
Where primary sources have adjusted statistics for a previous period, corresponding updates have been made to Vital Signs historical and trend data.