Ventura County Business

“Grow your business. Live your life.” So goes the official advice of Ventura County. In terms of economic development, this will serve as the county’s new slogan to entice outside businesses to relocate to a new Ventura County headquarters. The federally funded ad campaign will function across a multitude of mediums, including print, online, tv, radio and, everyone’s favorite, direct mail advertising. What does Ventura County have that say Los Angeles, a locale the campaign hopes to poach companies from, doesn’t have? When competing against a major player in the global economy such as the City of Angels and its surrounding area, it’s not always what you have that helps to set yourself apart, rather what you don’t have. Ventura County lacks the pollution, sprawl and congestion that plagues Los Angeles, yet is close enough in proximity to enjoy many of the same resources. For this reason, the slogan fits aptly, implying yes, this is still Southern California, a hotbed for business, but it is a not Southern California in that it gives you space enough away from the well-documented distractions and inconveniences to actually live your life outside of work. Combined with a highly education resident base/potential work force and relatively lower costs both to open new ventures and live outside of the office as compared to many areas throughout the region, Ventura County could pass as a proverbial business paradise for entrepreneurs and burdened business owners fed up with high tax rates and the traditional LA social gauntlet. Continue Reading »

Though many of the economic vital signs are returning to the Ventura County area, that doesn’t mean opening a business is a cake walk down easy street. The recession has altered the dynamics and fundamentals of entrepreneurship, whether it’s getting a loan, employee compensation, insurance plans or one of the thousands of other decisions that go hand in hand with opening a company’s doors for the first time. For wannabe business owners in the Ventura County area, there are fortunately a lot of resources at one’s disposal to help navigate first time owners, and even experienced entrepreneurs unfamiliar with the area, across the often confusing waters of business development. Here is a look two organizations that might lend some help to new companies just setting up shop or even prove valuable to businesses already established in the area. Continue Reading »

The year 2005 seems much longer than a mere 5 years ago. Mired in economic uncertainty since the latter part of 2007, concerned, overworked and underpaid people around the globe long for a simpler time just a few years in the rear view mirror. It was 2005 in which Town Center opened in Simi City, CA, located in Ventura County’s southeast sector, taking advantage of the calm, well-tempered climate both atmospherically and economically. The open air mall and shopping center had been in the works for nearly two decades with the final product spanning over 600,000 square feet, prominently displaying high end shops, retailers and boutiques and a selection of chain and local restaurants. The Town Center was envisioned to serve as a new source of jobs, projected to offer 1,200 to the community, and a 2.5 million dollar sales boost to boot. At the time of its opening, the Town Center was valued at 350 million. Today, the once prized locale is up for sale, reflecting the troubling economic times that have engulfed even the most well-to-do southern California communities. Continue Reading »

Public workers in Ventura County are sure to face an unwelcome reduction in the coming months. In keeping with statewide efforts to cut budgets, Ventura County employees can expect to see large scale pension reform, leaving them with less incoming cash to fund their retirement. One strategy for combating deficits between the future demand for pension checks and the limited supply of projected funds is by having employees contribute to their own pensions by setting aside higher percentages of their current earnings, reducing the total strain on the local county and city budgets when it is finally time to make good on pension promises. While unionized city workers express a general willingness to help, they take issue with permanently cutting their take home income in order to provide for future pension payment problems. Furthermore, these problems are in no way related to worker performance, stemming from the faults and misjudgments of others, making the idea of common workers baring the burden for cutbacks appear illogical. Continue Reading »

In light of the bleak housing market entrenching much of our nation, dating back across the tail end of the decade, almost any news regarding rising home prices is good news. While still far from out of the muck, Ventura County homes have shown some vital signs of life over the past few months, exceeding recent trends and expectations and continuing up a slow hill towards recovery. June numbers indicate the median sale price for new and resold homes was 384,000. This marks a 4,000 increase from the previous month’s number. As compared to June’s numbers a full year ago, this year showed a 19,000 rise in home prices, showing a resiliency in the Ventura County economy as the national economy continues to loom in uncertainty. The 384,000 June price actually indicates the highest median figure for sale price in Ventura County since September 2008, which posted a slightly higher 385,000 median. To further brighten spirits, this is the 8^th month in a row in which the current year’s numbers trend higher than the previous year, indicating at the very least a stepping stone towards recovery. Continue Reading »

In what has traditionally been known as the “Gold Coast” area, Ventura County has been funded by a figurative goldmine in the form of the rapidly developing and highly profitable technology market. The “Tech Coast,” as it is now commonly referred to, is home to major presences in the telecommunications, healthcare and biotech industries. Booming tech markets have turned this coastal county into one of the most affluent in the state, ranked 6^th in California in terms of per-capita income.The biotechnology market is centered in the Conejo Valley region, situated in southeast Ventura County and expanding into northwest Los Angeles County. Among the major biotech players located in the area are Amgen and Baxter. The Conejo Valley, though rich in biotech resources, cannot exclusively be considered a biotechnology hotspot. Large international corporations choose to make a home in Conejo Valley as well from automobile makers to makeup manufacturers. Among the big names that have major operations in the region are Audi, J.D. Power & Associates, Jafra Cosmetics, THQ, Volkswagon and Wellpoint. Continue Reading »