Economic Development Update

DECEMBER 2018

Welcome these new businesses to Thousand Oaks!

Advisor's Choice Insurance Brokerage Services opened a new office located at 515 Marin Street.

California Museum of Art Thousand Oaks relocated their museum to The Oaks, located at 350 W. Hillcrest Drive. According to their website, " CMATO is a participatory museum - which means visitor engagement is paramount and collaboration is key. It's a place where people connect and experiences are shared."

Cotton On - women's, men's, and kids' clothing and accessories, opened a new store at The Oaks located at 234 W. Hillcrest Drive.

Julio's Agave Grill opened at the Westlake Commons, located at 2809 Townsgate Road (previously occupied by Casa Escobar).

Motion Stretch Studio, a one-on-one stretch studio, opened at the Westlake Plaza, located at 960 S. Westlake Boulevard.

Solé Soups opened a new restaurant at the Oakbrook Plaza, located at 1772 Avenida De Los Arboles.

Click here for more information on Business Recovery Meeting

Auto Sales

A total of 1,430 new vehicles were sold in October 2018. New vehicles sales decreased by 11.5% from September 2018 and decreased by 2.4% from a year ago. Additionally, 756 pre-owned vehicles were sold.

Thousand Oaks Unemployment

According to the California Employment Development Department, Thousand Oaks preliminary October 2018 unemployment rate 2.9% - up from 2.8% in September 2018. The City has a total of 66,600 in the labor force with 64,600 who are employed.

Ventura County Unemployment

The California Labor Market report revealed that Ventura County's October 2018 unemployment rate of 3.7% was unchanged from a revised 3.7% in September 2018.

A total of 2,700 non-farm jobs were gained in October 2018; however, 300 jobs were lost, for a net gain of 2,400 jobs.

The loss in jobs includes:

200 in educational and health services and
100 in leisure and hospitality

The gain in jobs includes:

1200 in government
600 in professional and business services,
400 in trade, transportation and utilities,
200 in financial services,
100 in information
100 in manufacturing, and
100 in other services.

Getting to Know Our Local Businesses

During the month of November, members of our City Council, the executive team, and economic development staff visited Giant Bicycles and Sideshow Collectibles . Thank you to these incredible T.O. businesses for hosting us.

The economic development team is reaching out to the
local business community to schedule a visitation at your business so that we can learn more about your business and find out how the City can support you.

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