Page 51 - City of Mansfield FY22 Operarting Budget

sectors of its economy and employment percentages are healthy and expected to remain
healthy in the City. The State of Texas employment percentages continue to fluctuate as
the State’s economy adjusts from the ever-changing prices of oil and gas. The overall
economy of the State is stable as Texas is a leader in the exportation of goods around the
world. The State of Texas and the North Texas region are doing well, and the signatures
of fundamental growth are present. The City expects these trends to continue into the
future barring any unforeseen economic calamity.

Growth expectations are based on projected population estimates by the City’s planning
department. Support for these population projections is corroborated by the continued
growth in the overall population of the State of Texas, and the continued population
growth in the North Texas region.

Population Estimates

120,000
100,000
80,000

60,000
40,000
20,000
0
2022 2023 2024 2025 2026 2027 2028 2029 2030 2031

The near-term financial trends present favorable operating conditions within the City, and
Management will continue to monitor the near-term trends as projections are based on
improving economic conditions within the City. Measurement indices of fiscal policies
will be monitored by Management too. Continued assessment of the economy will
condition Management’s action and responses in adjusting the revenues and expenses of
the City’s primary activities.

Strategic Plan Highlights

Population

Estimated 2022: 76,000
Estimated 2031: 104,000

Expected population increases create the need for housing stock, infrastructure, and retail
development. In the last decade of 2001 to 2010, the City added some 32,000 residents,
and the 1990’s decade the City added 10,000 residents. The population growth in the last

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