...Monmouth County's 'AAA' GO bond and Issuer Default Rating (IDR) reflect its stable fiscal track record and combination of high reserves and budget flexibility that result in an exceptionally strong capacity to manage through future downturns. The county's proximity to New York City creates a strong and mature economic core with limited expansion capacity. Fitch Ratings expects long-term liabilities related to debt and pensions to remain low. Economic Resource Base: The county has an affluent and highly educated population of 643,615, which is up 2% since 2010. Its proximity to New York City and location along the northern Atlantic shore of New Jersey make it a desirable place to live. With opportunities for new investment limited primarily to the former Fort Monmouth Army Base and rehabilitation or replacement of existing properties, Fitch expects only inflationary growth in the tax base and modest population growth. Similar to activity across the state, as well as the nation, housing sales...
