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Economic Development News

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July 2019

 

Ace Hardware

Ace Hardware opened a new store at the space previously occupied by Orchard Supply Hardware at the Oakbrook Plaza located at 1934 Avenida de los Arboles.

Ace Hardware Logo

 

Barone's Pizzeria

The newly renovated Northstar Plaza is home to Barone's Pizzeria located at 1321 E. Thousand Oaks Boulevard. Barone's is a family owned and operated chain of restaurants that date back to 1945. According to their website, Barone's was the first restaurant in Los Angeles and in Southern California to sell pizza. Their trademarked rectangular pizza was made famous by regular visitors James Dean, Frank Sinatra, and John Wayne.

 

Barone's Pizzeria Logo

SAGE Publishing

Sage Publications, a leading independent, academic and professional publisher, headquartered in Thousand Oaks, recently expanded its operations and took over office space in the building located at 2380 Conejo Spectrum Street.

Sage Publishing Logo

Security Paving Company

Security Paving Company, a family-owned business for over 65 years, relocated their corporate offices from Sylmar to the Westlake Plaza Center located at 3075 Townsgate Road.

Security Paving Company Logo

 

Tarantula Hill Brewing Company

The highly anticipated Tarantula Hill Brewing Company opened last week at 244 E. Thousand Oaks Boulevard. The City's first and only microbrewery will brew small batch beer made from mostly local ingredients and will also carry handmade pizzas, ice cream and coffee.

Tarantula Hill Brewing Company Logo

ACADEMY SHOPPING CENTER

The following businesses opened last weekend at the new Academy Shopping Center at the intersection of Academy Drive and Grande Vista Drive:

 

Lowe's Logo

 

LA Fitness Logo

Auto Zone Logo

 

Jack in the Box Logo

Regional Report Debunks

Business Exodus Myth

Map of tri counties

Business Migration Report

The Economic Development Collaborative (EDC) released a report last month that studies business migration in the tri-counties: Ventura, Santa Barbara, and San Luis Obispo. The data shows that, contrary to popular belief, Ventura County has had more firms moving into the County than out in all but one of the last 20 years. The same is true of San Luis Obispo County while Santa Barbara County showed a zero net change.

 

Click here to view the full report.

 

Thousand Oaks Unemployment

According to the California Employment Development Department, the May 2019 unemployment rate for Thousand Oaks is 2.7%, unchanged from April 2019. The City has a total of 65,500 in the labor force with 63,700 who are employed.

 

Thousand Oaks Sales Tax Revenue

 

Local sales tax revenue for the fourth quarter of 2018 was $8.37 million, a 3.5% decrease from last year's 4th quarter total of $8.67 million. The decrease in the City's sales tax is primarily due to declines of 9.4% in business and industry, 7.3% in general consumer goods, and 6.7% in auto and transportation. These figures were partially offset by a growth of 16.7% in building and construction, and 11% in fuel and service stations.

Ventura County Unemployment

The California Labor Market report revealed that Ventura County's May 2019 unemployment rate of 3.0% was down from a revised 3.2% in April 2019.

A total of 800 non-farm jobs were added in May 2019; however, 1,000 jobs were lost for a net loss of 200 jobs.

The loss in jobs includes:

500 in educational and health services

300 in trade, transportation, and utilities

200 in professional and business services.

 

The gain in jobs includes:

300 in government

200 in construction

100 in leisure and hospitality

100 in manufacturing

100 jobs in other services.

car-sales-lot.jpg

Auto Sales

A total of 1,730 new vehicles were sold in May 2019. New vehicles sales increased by 21% from April 2019 and decreased by 1.6% from a year ago. Additionally, 767 pre-owned vehicles were sold.

 

Business Visitation Collage

 

 

2019 Economic Development Newsletter Archives

2018 Economic Development Newsletter Archives