Thursday, January 5, 2023

Updates from City Hall | Business News | Local Economic Trends | Support & Resources

City Council Meeting Agendas
Planning Commission Meeting Agendas

Business License renewal information

Happy 2023! It's time to renew your business license for the new year. You can find all business license-related information here.

City budget process and engagement opportunities

Every two years, the City is required to adopt a structurally balanced budget. Budget development and engagement is kicking into gear again. Take a few minutes to learn about the budget and opportunities to engage throughout the process here.

Rancho Road project update

The City's Public Works Department is wrapping up improvements on Rancho Road to improve pedestrian and bicyclist safety and connectivity between Thousand Oaks Blvd and Haaland Drive (the location of the Thousand Oaks Transportation Center).


The improvements include ADA-compliant sidewalks, bike lane striping along both sides, and new traffic signals from Caltrans. The Rancho Road traffic signals are expected to be fully operational later this month.

Read more

County hosting workshop on new sidewalk food vending law

The County of Ventura Environmental Health Division will be hosting an in-person workshop on Senate Bill 972, which went into effect January 1, 2023. This new law updates regulations for street vendors. The workshop will take place January 11, 2023 in both English and Spanish. Learn more here.

January is National Mentoring Month

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Since 2002, U.S. presidents have proclaimed January as National Mentoring Month.


Research shows mentorship programs positively impact social and economic opportunities and outcomes for individuals and communities alike.


This year's presidential proclamation highlights a range of efforts underway to better prepare our workforce for the jobs of tomorrow.


You can learn more about National Mentoring Month here.

New Businesses

Pieology Pizzeria

New restaurant serving gourmet pizza

Janss Marketplace

205 N. Moorpark Road

External Link

RELAW, APC

Legal firm specializing in real estate services

Relocated to Westlake Gardens

2535 Townsgate Road.

External Link

Seabutter

New sushi restaurant

The Promenade

180 Promenade Way

External Link

To see the City's latest monthly Development Activity and Permits Issued reports click here.

Unemployment Rates & Jobs by Industry

Tracking labor force and employment trends helps the City better understand supply and demand shifts as they relate to local workforce and land use needs to inform decision-making. 

City of Thousand Oaks

According to the California Employment Development Department, the preliminary Thousand Oaks November 2022 unemployment rate is 2.7% (up from 2.5% in October 2022 revised figures).


The City has a total of 63,000 in the labor force with 61,300 who are employed. Labor force participation within the City is up about 1.9% compared to November 2021. 

Ventura County

The California Labor Market report shows Ventura County’s preliminary November 2022 unemployment rate at 3.7% (up from a revised 3.4% in October 2022). Countywide labor force participation is up about 1.5% year-over-year. Statewide it's up about 0.5% year-over-year (not seasonally adjusted). 


A total of 1,700 non-farm jobs were added in November 2022. However, a total of 600 jobs were lost; amounting to a net increase of 1,100 jobs over the previous month. Job gains consisted of: 1,600 in Trade, Transportation, and Utilities; and 100 in Financial Activities. Job losses consisted of: 300 in Leisure and Hospitality; 200 in Construction; and 100 in Education and Health Services.

The chart above illustrates year-over-year jobs by industry sector across the Ventura County region against a February 2020 benchmark. November 2022 data is a preliminary estimate. It shows estimated gains in most industries compared to November 2021. (The Financial Activities and Mining were flat during this period. More than half of industry sectors are estimated above the February 2020 benchmark.)

See more employment-related data on the state's Employment Development Department website here.

Auto Sales

Automobiles sold in the City contribute significantly to the total sales tax revenue the City uses to support programs and services that continue to make Thousand Oaks an attractive place to live and do business.

A total of 981 new vehicles were sold in November 2022; down 9.8% from October 2022, and down 2.4% year-over-year.


In addition,707 pre-owned vehicles were sold in November; down 16.6% year-over-year.

Many organizations and programs exist to provide financial and/or technical assistance support to help businesses navigate an ever-evolving economic climate, technological advancement, and policy landscape. We encourage our local businesses to tap into these resources to stay competitive and thrive!

Highlighted Resource

CA Competes Tax Credit

The Governor's Office of Business and Economic Development (GO-Biz) is now accepting California Competes Tax Credit applications from January 3rd - 23rd, 2023. Informational webinars are scheduled for January 12th and 17th. Learn more here.

Trainings and Other Resources

Economic Development Collaborative

See the latest schedule of upcoming no-cost education and training opportunities 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.

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 Workforce Resource Guide 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.

Learn more about Support and Resources available to Thousand Oaks businesses here.

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[CITY OF THOUSAND OAKS] [2100 E. THOUSAND OAKS BLVD 91362] [www.toaks.org]
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