Speakers Forecast Business Recovery

To the approximately 75 business people seated in the Thousand Oaks City Council Chambers, 1996 already looked like a good year.

Office vacancy rates in the Conejo Valley were down. Plans for several new shopping centers had been approved by the city. National chain stores are still moving into the area.

Although some of the speakers at the third annual Conejo Valley Business Forecast pointed to problems in the local economy, most agreed the area’s business climate was improving.

“A recovery is in place both in California and in the local economy, and it will continue to gain momentum in the next 12 months,” said Gary Schlossberg , a vice president and senior domestic economist with Wells Fargo Bank.

The forecast, held Wednesday afternoon and sponsored by the Thousand Oaks Rotary Club and the Conejo Valley Chamber of Commerce, provided local businesses a time to compare notes on how the local economy had performed in 1995 and predict what it might do next.

Twelve business leaders gave reports on the strength of different industries, from health care to real estate to telecommunications. Most of the forecasts were upbeat, with predictions of increased retail sales for larger stores and rising home prices.

A few speakers, however, pointed to continuing problems. Mike O’Beirne, owner of the Conejo Awards trophy shop, said small business owners are being squeezed by such factors as the rising cost of insurance and employee incentives.

“There is a perception that the city is romancing the large commercial developers and stores while seemingly doing very little to help protect the small retailer,” he said. “I’m afraid that the small retailer in this area will, once again, face a tough battle to increase sales and profits in 1996.”