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Comprehensive Plan Economic Development Element <br />residents moving to the county. <br />With respect to economic development, these population changes indicate that the county is <br />expanding its consumer base. This expansion produces more activity and enhances the area's <br />economy. <br />Population Projections <br />Table 5.2 displays the population projections for Indian River County from 2010 to 2030. The <br />percentage increase in population over the twenty year projection period is 38.37%, which is 18.46 <br />percentage points lower than the percentage increase experienced in Indian River County over the <br />previous twenty years. This lower projected growth rate can be attributed to several factors, <br />including demographic and economic trends. <br />Table 5.2: Population Projections for Indian River County (2010 - 2030) <br />Year <br />Population <br />Numerical Increase <br />% Increase <br />142,300 <br />2010 <br />155,000 <br />12,700 <br />2015 <br />8.92% <br />169,300 <br />14,300 <br />2020 <br />9.23% <br />183,400 <br />14,100 <br />2025 <br />8.33% <br />196,900 <br />13,500 <br />2030 <br />7.36% <br />Source: Bureau of Economic and Business Research. University of Florida, 2009. <br />Components of Population Change <br />Table 5.3 displays the numerical and percentage breakdown of the county population by age and <br />over time. As shown in that table, persons aged 65 and older represented the largest share of Indian <br />River County's population in 1995, 2000, and 2005. In 2008, that age category was second largest <br />to the 45 to 64 year old age category. The implications of having a large share of older persons is an <br />increased demand for services which will increase employment in service industries. <br />Community Development Department Indian River County 4 <br />