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Experts say the Conejo can expect a bright future
Those were the words of Westlake Village Mayor Susan McSweeney at last week's Regional Economic Forecast of Thousand Oaks and Westlake Village presented by the Thousand Oaks-Westlake Village Regional Chamber of Commerce and the Rotary Club of Thousand Oaks. Keynote speaker Charles Maxey, dean of the School of Business at California Lutheran University, agreed with that outlook. About 150 well-dressed business people attended the March 2 breakfast event at the Westlake Village Inn. Most wore dark suits and white shirts. Thousand Oaks Mayor Andy Fox and Councilmembers Tom Glancy, Jacqui Irwin and Dennis Gillette were among those in attendance. With the aroma of coffee and maple syrup in the air, the speakers stood at a podium in front of a wall of glass that looked out over a well-manicured golf course. Each presented reasons why Thousand Oaks' future is bright. Maxey described the national economy as slow and steady, with inflation remaining flat and growth increasing 2 or 3 percent on top of inflation. He went on to say California's economy is similar to the positive overall U.S. economy in job growth, unemployment rates and Consumer Price Index percentage changes. In Ventura County, Maxey predicted, economic and employment growth will remain strong. One problem, however, might be the high percentage of lower-paying service jobs in a place where housing costs are so high. "For the first time in a long time, population growth in Ventura County is less than in Santa Barbara County," Maxey said. The population is getting older. School districts are shrinking. Young people with families are moving out along with young, educated people because they cannot afford to buy a home in Ventura County, he said. In Thousand Oaks, the median age is 38.8 years. Moorpark has the oldest median age in the county--44 years. Oxnard's is the youngest at 30.3 years. The Hispanic population percentage, at 76.1 percent, is highest in Santa Paula. Thousand Oaks, at 14.9 percent, has the lowest percentage. Thousand Oaks has the highest median household income--$103,000--in the county. Santa Paula has the lowest at $53,868. Moorpark is second with $93,708, and Simi Valley is third with $91,362. Moorpark has the highest proportion of homeowners with 81.6 percent. Thousand Oaks, with 75.4 percent, was third after Simi Valley, where the percentage of homeowners is 77.6. Port Hueneme, with 48.3 percent, was lowest. The population of Thousand Oaks increased by 2.6 percent in 2006. Oxnard, with an increase of 5.5 percent, led the county. Thousand Oaks was first in Ventura County in productivity when gross regional product and gross regional product per worker were compared. The city also led in retail sales as sales per capita continue to increase. "This is a very positive picture," Maxey said. Also on hand was Julia Ladd, property manager of The Oaks, who explained how the mall in Thousand Oaks was able to outperform Simi Valley Town Center and the Topanga mall even though The Oaks is currently under construction. "Many people prefer a climate-controlled shopping environment where they don't have to wear coats or carry umbrellas," she said. During the holiday shopping season, even with major department stores closed down, The Oaks' revenue increased more than 6 percent from the previous year, Fox said. In a reference to the shortage of commercial real estate available in Conejo Valley, Rick Principe, president of Westcord Commercial Real Estate Service in Westlake Village, compared that market with a store with no items to sell. He also pointed out that permit costs of construction are very high, and those costs will be passed along to the consumer. | |||||
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