Monday, March 1, 2021
COVID-19 Update | New Businesses | Sales Tax Update | Employment Trends | Auto Sales | Special Updates
The March 2021 edition of the monthly newsletter contains important information and resources related to COVID-19 that may be helpful to our entire business community, not just current subscribers. If you received this email, and have not already subscribed to our monthly ED Newsletter, but would like to receive our newsletter, please sign-up here. 
COVID-19 RESPONSE UPDATE
Greetings Thousand Oaks Business Community,
Last week, County officials shared that local COVID metrics continue to trend in a favorable direction. We are getting very close to meeting all the metrics for entering the State’s less-restrictive Red Tier. We encourage everyone to continue adhering to the current restrictions and to get your vaccination when appointments become available to you. (See here for vaccination information.) Entering the Red Tier means less restrictions on certain indoor business operations and maximum capacity limits for a number of business operations (See more here).
Secondly, the County is preparing to launch its new $20 million grant program for small businesses and non-profit organizations. Grants will be available in the amount of $5,000. The application period is expected to open at the end of March. To stay up-to-date on this financial relief program, please sign up for email updates from the County here.
On February 23rd, Governor Newsom signed a $7.6 billion economic stimulus package into law. Included in the package is an increase from $500 million to over $2 billion to fund grants up to $25,000 for struggling small businesses. More details here.
On February 24th, the U.S. Small Business Administration opened a 14-day Payroll Protection Program (PPP) period exclusively for businesses with fewer than 20 employees. The application deadline is March 10th. See more here.

Lastly, remember our partners at the Greater Conejo Chamber of Commerce continue to accept applications for their Small Business Relief Fund grant program. Grants are available up to $2,500. See here. 



Kind Regards,

Haider Alawami
Economic Development Manager
The California Employment Development Department (EDD) expects to release updated unemployment and labor force numbers later this month. You can review EDD's release schedule here.
A total of 1,275 new vehicles were sold in January 2021; a 22.9% decrease compared to December 2020 sales, and a 10.7% decrease compared to a year ago.

In addition, 789 pre-owned vehicles were sold in January.  
Thousand Oaks Sales Tax Q3 2020 Report

Local sales tax revenue in the Third Quarter 2020 (July, August, September) improved substantially over the Second Quarter. However, Third Quarter 2020 local sales tax revenue was still down 2.5% compared to the Third Quarter of 2019 (due to COVID 19). 

The following categories experienced the largest reductions: 
  • Fuel and Service Stations (-34.2%); 
  • General Consumer Goods (-26.8%); 
  • Restaurants and Hotels (-30.1%); and 
  • Business and Industry (-5.6%). 

These losses were largely offset by increased sales tax revenue in the following categories: 
  • State and County Pool (e-commerce) (+52.2%); 
  • Food and Drugs (+8.4%); 
  • Building and Construction (+6.0%); and  
  • Autos and Transportation (+2.5%) 
 
General Plan Update
The Land Use Alternative maps and briefing book are available for public review and feedback in both English and Spanish. The public comment deadline has been extended to March 15th. See more here. The City recently met with the Thousand Oaks Youth Commission to hear what they had to say. You can check out of their comments and others from your neighbors in the document. Have your say! The City will also be hosting a virtual public meeting in Spanish on the maps and briefing book tonight (March 1st). Register here.
Recent Housing Proposals
City Council recently heard conceptual plans for three multifamily residential projects. These projects include a 300-unit project at 500 E. Thousand Oaks Blvd., 165-units at the Lakes site, as well as a 240-unit project a 1 Baxter Way near Westlake. Council allowed each of the projects to advance passed the pre-screen stage and into the planning process where concepts will be further refined and undergo thorough review.

Diverse housing options are essential for supporting a vibrant local economy. They help to provide housing options for residents at various stages of their lives, including our workforce and aging residents looking to downsize into smaller homes.   
Free Workshops and Webinars for Your Business
Our partners at the Economic Development Collaborative (EDC) are hosting some excellent free webinars on available financial relief programs, landlord/tenant relations, human resources, and accounting skills. Check out the schedule and register here.

Ventura County SCORE is also offering a variety of no-cost virtual workshops throughout March to help you give your business gain the edge to adapt and compete in the current economic climate. See more here.
Workforce Development Board Services for Employers
Learn more about our partners at the Ventura County Workforce Development Board, including trainings and other services they offer to help employers and job seekers connect and compete. Learn more here.

Visit Conejo Attracting Tourism to Area
‌
Visit Conejo (our local Tourism Improvement District) recently released this new short video highlighting Thousand Oaks and more in the Conejo Valley. See Another Side of Southern California here! 
Did someone share this email with you? Sign up to receive more of our emails.