Wednesday, February 2, 2022
Updates from City Hall | Business News | Local Economic Trends | Education & Training
Conejo Valley Restaurant Week is Coming!

Restaurant Week is back! February 18-27th the Conejo Valley Tourism Improvement District invites you and your loved ones to enjoy some of your favorite (and new favorite) local restaurants. To learn more and/or to register your restaurant to participate in Restaurant Week, see here.
General Plan Housing Element Update
The City continues to make progress on efforts to update the General Plan. On January 25th, City Council adopted the 2021-2029 Housing Element. The Housing Element will now be submitted to the California Department of Housing and Community Development for Certification.

You can stay up on the latest General Plan Update activities here.

Teen & Adult Center Upgrades Underway
A $4.3 million joint project of the City and Conejo Recreation and Park District to upgrade the Alex Fiore Teen Center and Goebel Adult Community Center is underway.

The project includes a wide range of interior and exterior improvements. Learn more about the project here.
Moratorium on Self-Storage Facilities
The recent proliferation of the self-storage industry in the region has generated some concern about potential city-wide economic impacts and utilization of already limited industrial properties for operations that do not create substantial employment opportunities. There are currently 15 self-storage facility sites within the City.
As a result, on January 25th, City Council adopted an interim urgency ordinance declaring a temporary moratorium on City approval or issuance of any permit, license, or entitlement relating to applications for the development and construction of self-storage facilities.

The moratorium period will enable City staff to evaluate specific self-storage development standards and compatibility of these uses with the City's General Plan and the City's other goals and policies.
Highlighted Resources
Employee Retention Tax Credit
The Employee Retention Tax Credit (ERTC) is a refundable credit that businesses can claim on qualified wages, including certain health insurance costs, paid to employees. Eligible employers can now claim a refundable tax credit against the employer share of Social Security tax equal to 70% of the qualified wages they pay to employees after December 31, 2020, through June 30, 2021. More here.
No-Cost Business Services
The Workforce Development Board of Ventura County offers no-cost business services to help you attract and retain talent. They also offer a Human Resources Hotline providing assistance with wage and hour laws, paid sick leave, hiring/firing best practices, and more. See here.
NEW BUSINESSES
AIA Holdings
AIA Holdings, an insurance company, opened new offices at One Baxter Way. (Link)
K-1 Speed
K-1 Speed, an indoor go-kart racing facility, opened at 770 Lawrence Drive. (Link)
Moody Roster
Moody Rooster just completed the renovation of their restaurant located in the Westlake Commons at 2900 Townsgate Road. (Link)
Phil's
Phil's, an American cuisine restaurant opened at 3316 E Thousand Oaks Blvd. (previously occupied by Prawn & Basil) (Link)
UCLA Health
UCLA Health just completed the renovation of an existing building, located at 248 Hampshire Road, to expand health services provided to the community. (Link)
IN THE NEWS
Amgen announced U.S. FDA approval a new biologic therapy for patients with severe asthma. (External Link)

The Governor's Office of Business and Economic Development (GO-Biz) will be accepting California Competes Tax Credit applications March 7 - March 28, 2022. (External Link)

Capsida Biotherapeutics was recently named among the "Top Life Sciences Start-Ups to Watch in 2022 by Biospace. (External Link)

CLU's Hub 101 incubator is accepting applications for its next 14-week "IdeaToDo" accelerator program. This unique program is designed to help you prepare your business for launch, level up your business, and increase the chance of startup success. (External Link)

Takeda announced U.S. FDA recently approved the first and only prophylactic treatment for adults living with a common inherited bleeding disorder. (External Link)
UNEMPLOYMENT RATES & JOBS BY INDUSTRY
City of Thousand Oaks
According to the California Employment Development Department, the preliminary Thousand Oaks December 2021 unemployment rate is 2.8% (down from a revised 3.1% in November 2021). This preliminary rate is equivalent to the City's pre-pandemic rate.

The City has a total of 62,500 in the labor force with 60,700 who are employed. 
Ventura County
The California Labor Market report shows Ventura County’s preliminary December 2021 unemployment rate at 4.2% (down from a revised 4.5% in November 2021). 

A total of 1,600 non-farm jobs were added in December 2021. However, a total of 300 jobs were lost; amounting to a net gain of 1,300 jobs. Job gains consisted of: 700 in Trade, Transportation and Utilities; 600 in Leisure and Hospitality; 100 in Construction; 100 in Information; and 100 Professional and Business Services. Job losses consisted of: 100 in Financial Activities; 100 in Government; and 100 in Other Services.
The chart above depicts COVID-era unemployment trends at the state, county and City levels. It shows the City of Thousand Oaks has maintained a lower unemployment rate than the county and state throughout the pandemic.
The chart above illustrates year-over-year jobs by industry sector across the Ventura County region. December 2021 data is a preliminary estimate. It shows estimated gains in all industries compared to December 2020.
AUTO SALES
A total of 1,121 new vehicles were sold in December 2021; up 11.5% from November 2021, and down 32.2% Year-Over-Year.

In addition, 773 pre-owned vehicles were sold in December; up 18.4% Year-Over-Year.
Economic Development Collaborative
See the latest schedule of upcoming no-cost education and training opportunities for June here.
SCORE - Ventura County
In addition to its no-cost mentoring services, SCORE is offering a variety of workshops this month on accounting, business formation, digital and social media marketing, and more. See here.
Women's Economic Ventures
Check out the great business training, advisory services, loan opportunities and more over at WEV. More here.
SCORE - Ventura County
In addition to its no-cost mentoring services, SCORE offers a variety of workshops on accounting, business formation, digital and social media marketing, and more. See here.
CA Employment Development Department
The California Employment Development Department (EDD) has a webpage with resources specifically for employers. See resources focused on Hiring and training, Work Sharing, and more here.
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