Wednesday, December 1, 2021
Updates from City Hall | Business News | Local Economic Trends | Education & Training
State of the City Address Tuesday, December 7th
Join the City of Thousand Oaks and the Greater Conejo Valley Chamber of Commerce for the Thousand Oaks State of the City Address and Luncheon, featuring keynote speaker Mayor Claudia Bill-de la Peña.
 
This year, the luncheon portion of the event will take place outside of the Civic Arts Plaza followed by the Mayor’s address inside the Fred Kavli Theatre. Please note that masks will be required, per the County mandate, inside the theatre. Registration details here.
Let's Work Together to Conserve Water
Droughts are common in California and the West and we are currently in a severe water deficit. Thousand Oaks is almost 100% dependent on water from the State Water Project (SWP). In August, Lake Oroville reached its lowest point since being filled in the 1970s. On November 9th, the Metropolitan Water District declared a Drought Emergency and called on Thousand Oaks and other SWP-dependent areas to take immediate steps to reduce water use. Thousand Oaks City Council responded swiftly, declaring a Level One Water Shortage on November 16th and requested 15% water conservation from our community. (Read more.)

Looking for ways your business can contribute to water conservation efforts? The CA Green Business Network offers 22 ways businesses can help save water (and money) here.
Changes to Commercial Trash and Recycling Coming in Jan. 2022
There are several changes to commercial trash, recycling, and organics coming in 2022. Get the run-down on it all here. Need to multi-task? Watch a quick 20-minute presentation on the changes here.
Polystyrene is Out in 2022
The City's ordinance banning single-use disposable plastics (Polystyrene) will go into effect beginning January 2022. Read more here.
New Projects
1872 Newbury Road
On Nov. 9th, City Council voted in support of a horizontal mixed-use project to add 218 apartments (including 26 affordable units), and a 120-room hotel at the former Timber School site. The project will preserve the historical school and auditorium. The addition of the apartments will contribute the the City's need for increased housing supply and diversity of housing options for residents. The hotel will help to accommodate business and leisure travelers to the Conejo Valley alike; helping to generate more economic activity in the City. Construction is anticipated to begin as early as late 2022.
The Lakes - 2200 Thousand Oaks Blvd.
On Nov. 30th, City Council gave the greenlight to move forward with a 165-unit apartment development in the large parking lot area behind The Lakes shopping center. The project aligns with other efforts to cultivate a vibrant, walkable downtown core with increased economic activity, as well as help to continue diversifying our housing options in the City.
Highlighted Resources
Guidance for Transitioning from Temporary to Permanent Outdoor Dining Areas
Several food establishments that have taken the City up on its temporary outdoor dining permit have expressed interest in transitioning to permanent set ups. The City has developed some guidance for those establishments interested in permanent outdoor dining space. Click here for the Guidance. You can also find it posted on the City's Road to Reopening webpage.
WEV ReStock Loans for the Holidays
Our partners at Women's Economic Ventures (WEV) are offering a quick, easy, inexpensive and streamlined funding opportunity for qualifying small businesses to be able to stock up on inventory for the holidays. Click here for details.
NEW BUSINESSES
Capsida Biotherapeutics
Capsida, a biotech company, just completed tenant improvements of their office space in The Arbors, located at 2535 W. Hillcrest Drive. (Link)
Five Below
Five Below has opened a store at the Janss Marketplace, located at 179 Moorpark Road (Link)
HIIT House TO
HIIT House TO opened at 763 E. Thousand Oaks Blvd (previously occupied by Crossfit) (Link)
Lovies Guitars
Lovies Guitars, a collectible and vintage guitar store, opened at 1302 E. Thousand Oaks Blvd. (Link)
Pokitomik
Pokitomik, a restaurant offering Poki dishes, has opened at Paseo Marketplace, located at 3679 E. Thousand Oaks Blvd. (Link)
Vertigo Vintage Clothing
Vertigo Vintage Clothing opened at 2979 E. Thousand Oaks Blvd.
Vorwerk - Thermomix
Vorwerk just completed interior renovations of their space at 3255 E. Thousand Oaks Blvd. (Link)
IN THE NEWS
Acelyrin, an innovative clinical biopharma company, has raised $250 million in Series B financing. Westlake Village Biopartners (a primary investor in the company) intends to locate the company in Thousand Oaks. (External Link)

Amgen boosted its financial outlook for the year after posing better-than-expected Third Quarter results. (External link)

Economic Development Collaborative (EDC) and the Regional Small Business Development Center Networks of California (SBDC) have released a study examining COVID-19 impacts and recovery trends as they pertain to Ventura and Santa Barbara counties. The study also outlines opportunities to support an inclusive and equitable recovery. (External Link.)

Los Robles Hospital & Medical Center celebrated 53 years in Thousand Oaks in November. Los Robles also recently received its 7th consecutive "A" Leapfrog Hospital Safety Grade. (External Link.)

Port of Hueneme and Naval Base Ventura County have activated a joint-use agreement to allow the port to use part of the adjacent naval base to increase its capacity and help relieve the nation’s stressed supply chains. (External Link.)

Skyworks Solutions, Inc. has been nominated by the Global Semiconductor Alliance for the Most Respected Public Semiconductor Company Award. (External Link.)

Takeda Pharmaceutical has joined nine other pharma companies to form the "The Energize program" to accelerate the adoption of renewable energy and reduce greenhouse gas emissions within the industry's supply chain. (External Link.)
UNEMPLOYMENT RATES & JOBS BY INDUSTRY
Note: The economic impacts of COVID-19 continue to impact local unemployment rates.
City of Thousand Oaks
According to the California Employment Development Department, the preliminary Thousand Oaks October 2021 unemployment rate is 3.8% (down from a revised 4.2% in September 2021). This is the lowest unemployment rate since the onset of the pandemic. 

The City has a total of 62,600 in the labor force with 60,200 who are employed. 
Ventura County
The California Labor Market report shows Ventura County’s preliminary October 2021 unemployment rate at 5.0% (down from a revised 5.3% in September 2021). 

A total of 2,500 non-farm jobs were added in October 2021. However, a total of 200 jobs were lost; amounting to a net gain of 2,300 jobs. Job gains consisted of: 1,100 in Government; 600 in Leisure and Hospitality; 500 in Trade, Transportation and Utilities; and 300 in Educational and Health Services. Job losses consisted of: 200 in Professional and Business 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 levels throughout the pandemic.
The chart above illustrates year-over-year jobs by industry sector across the Ventura County region. October 2021 data is a preliminary estimate. It shows estimated gains in most industries compared to Oct 2020. Trade, Transportation and Utilities is the only sector showing a slight decrease year-over-year.
AUTO SALES
A total of 1,117 new vehicles were sold in October 2021; unchanged compared to September 2021 sales, but a 22.1% decrease Year-over-Year.

In addition, 985 pre-owned vehicles were sold in October.  
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.
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.
Ventura County Workforce Development Board
Employers can take advantage of free employment services and recruiting, on-the-job-training, skills enhancement, and customized training. See the new Workforce Resource Guide here.
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