Economic Development Update

SEPTEMBER 2018

Take a look at the new businesses in T.O.

Western States Cabinet Wholesalers opened at the Heritage Plaza, located at 816 E. Thousand Oaks Boulevard.

Soom Soom, a fresh Mediterranean restaurant, opened at The Promenade, located at 180 Promenade Way.

Prime Cutts, a Mediterranean restaurant, opened at The Oaks in the food court area, located at 382 W. Hillcrest Drive.

Raspado House , specializing in shaved Mexican ice, fruit cups, and smoothies, opened at 540 N. Moorpark Road (previously occupied by The Healthy Place).

FAB, a unique and distinctive home décor store, opened on the second level at The Oaks, located at 350 W. Hillcrest Drive.

Cake Monkey Bakery opened their second store at the Westlake Commons, located at 2805 Agoura Road (previously occupied by Tonino's Place Pizza).

Billion Dollar Club

According to a newsletter published by the Southern California Biomedical Council dated August 16, 2018, the City is home to two publicly traded biotech companies having $1 billion or higher market capitalization.

Amgen $127.15 billion
Atara Biotherapeutics $1.59 billion

Auto Sales

A total of 1,624 new vehicles were sold in July of 2018. New vehicle sales increased by 9.8% from June 2018 and decreased by 14.52% from a year ago. Additionally, 793 pre-owned vehicles were sold.

Thousand Oaks Unemployment

According to the California Employment Development Department, Thousand Oaks' preliminary July 2018 unemployment rate is 3.4%, down from 3.6% in June of 2018. The City has a total of 65,500 in the labor force with 63,300 who are employed.

Ventura County Unemployment

The California Labor Market report revealed that Ventura County's July 2018 unemployment rate of 3.9% was down from a revised 4.0% in June of 2018.

A total of 5,800 non-farm jobs were lost in July of 2018; however, 500 jobs were added, for a net loss of 5,300 jobs. The loss in jobs includes 4,500 in government (typical number which accounts for jobs lost in public schools each summer), 400 in trade, transportation and utilities, 400 in educational and health services, 400 in leisure and hospitality, and 100 in professional and business services. The gain in jobs includes 300 in manufacturing and 200 in construction.

Getting to Know Our Local Businesses

Thank you to IS Squared, JBW Precision, and Rustic Wood

Accents for hosting us!

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

If you would like us to visit your business, please call or email Rosie Ornelas at (805)449-2194 or [email protected] to schedule a visitation.

COMING SOON:

Oak & Iron

Business cards with a password, a roll-up garage door, smoked drinks? You may see all this and more when the craft cocktail bar Oak & Iron opens at 2967 E. Thousand Oaks Boulevard.

Brothers Jason and Jared Logan, originally from Newbury Park, are planning to open a speakeasy style lounge with a secret bar in the basement which will be used for special events. Look for Oak & Iron to open before the end of the year.

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