North Simcoe, comprising Midland, Penetanguishene, and the townships of Tiny and Tay, experienced a population growth of 8.4% (4,340 people) since 2016, surpassing the Ontario rate of 5.5%. Notably, the population over 60 accounted for almost 80% of this increase, while the population under 25 saw a slight net decline.
The region’s economic overview reveals a total GDP of approximately $3.5 billion annually, with the Health Care and Social Assistance sector employing the most people (3,900), followed by Manufacturing (2,800). The analysis emphasizes that North Simcoe’s health care industry is a significant area of growth and employment, and it is also classified as a “base industry” across the region.
Professional and scientific services and agriculture are identified as non-base industries that are growing and presenting opportunities for the region. Conversely, sectors like Manufacturing, Accommodation and Food Services, and Arts and Entertainment are falling and need attention.
Comparing North Simcoe to other regions, the study shows some unique opportunities where industries are growing or performing well compared to peers. The analysis emphasizes the importance of maintaining base industries while exploring the potential of non-base industries with growth opportunities.
Overall, the analysis provides insights into the demographic changes and economic landscape of North Simcoe, highlighting both strengths and potential areas for improvement to foster a sustainable and thriving regional economy.
