City of Simi Valley
ECONOMIC UPDATE – JANUARY 2022
Government Infusion of Funding into
Simi Valley Business Community:
Ventura County Business Assistance Grants
(Rounds 1 through 4)
Paycheck Protection Program (PPP)
Economic Injury Disaster Loan
Financial Relief and Resources -
Ventura County Business Assistance Grant
(Simi Valley Businesses)
Funding Round Grant Awards Grant Amount Total Funds
Awarded
1 799 $5,000 $3,995,000
2 229 $5,000 $1,145,000
3 833* $5,000 $4,165,000
4 171 $10,000 $1,710,000
Total 2,032** $11,015,000
• *The 833 grants awarded in Funding Round 3 are comprised of 605 businesses from Funding Round 1, and 228 businesses from Funding Round 2. • **2,032 total grants awarded includes 833 recipients from Funding Round 3, made up of recipients from Funding Rounds 1 and 2.
• 1,199 unique businesses and organizations received funding through the Ventura County Business Assistance Grant Program
State and Federal
Financial Relief and Resources
(Simi Valley Businesses)
Paycheck Protection Program
$186,000,000 Awarded
Economic Injury Disaster Loan
$122,000,000 Awarded
$308,000,000 Total Aid
Resources/Workshops
offered by the EDC-VC
and Agency Partners:
• COVID-19 Business Resources
• Digital Marketing Strategies
• Fundamentals of Starting a New
Business
• Business Resilience Strategies
• Introduction to Quickbooks
• Digital Marketing and Social
Media Strategies
• Managing Business Finances
• Best Accounting Practices
Simi Valley Vacancy Rates
2020 - Present
5.60% 5.74% 6.90%
5.22% 4.43% 3.47% 4.44%
2.75% 2.86%
18.68% 18.71% 19.09%
31.38%
8.69%
21.04%
8.79% 7.94% 7.79%
7.83% 8.49% 9.32% 9.55%
8.75%
9.05% 10.04% 9.18% 9.22%
0.00%
5.00%
10.00%
15.00%
20.00%
25.00%
30.00%
35.00%
2020 Q1 2020 Q2 2020 Q3 2020 Q4 2021 Q1 2021 Q2 2021 Q3 2021 Q4 2022 Q1 QTD
Simi Valley Industrial Simi Valley Office Simi Valley Retail 2022 Industrial Vacancy
Available Space by Square Footage
47%
32%
21%
0%
0 - 1,999 (9)
2,000 - 4,999 (6)
5,000 - 14,999 (4)
15,000 + (0)
Square Footage
*19 Total Spaces /
66,646 total sq. ft.
Industrial Vacancy Detail
520 E. Easy (14,181 sq. ft.)
2259 Ward (8,339 sq. ft.)
685 E. Cochran (8,260 sq. ft.)
4487 Ish (7,357 sq. ft.)
2022 Retail Vacancy
Available Space by Square Footage
60%
29%
9%
2%
0 - 1,999 (115)
2,000 - 4,999 (55)
5,000 - 14,999 (17)
15,000+ (3)
Square Footage
*190 Total Spaces /
526,078 total sq. ft.
Retail Vacancy Detail
1457 E. Los Angeles – Movie Theatre
(37,000 sq. ft.)
2910 Tapo Canyon – Formerly Cost
Plus – World Market (20,027 sq. ft.)
591 Country Club – Adjacent CVS
(14,109 sq. ft.)
2800 Cochran – Adjacent Sprouts
(13,557 sq. ft.)
2631 Tapo Canyon – Formerly Bed
Bath & Beyond (30,000 sq. ft.)-LEASED
2022 Office Vacancy
Available Space by Square Footage
63%
26%
10%
1%
0 - 1,999 (39)
2,000 - 4,999 (16)
5,000 - 14,999 (6)
15,000+ (1)
Square Footage
*62 Total Spaces /
176,308 total sq. ft.
Office Vacancy Detail
4100 Guardian (47,122 sq. ft.)
1900 Los Angeles (14,750 sq. ft.)
1919 Williams (14,451 sq. ft.)
2925 Sycamore (11,364 sq. ft.)
Sales Tax by Major Industry Groups
Q2 - 2021
General Consumer
Goods
21%
Internet Sales
19%
Autos and
Transportation
17%
Building and
Construction
12%
Restaurants and
Hotels
11%
Business and lndustry
8%
Fuel and Service
Stations
7%
Food and Drugs
5%
Simi Valley Economic Development Projects
2680 West Hills – The Point
600 E. Cochran – Parkinson Project
61,300 SF Industrial Space
3-Star Industrial Warehouse
Projected Completion: 2022
37,324 SF Industrial Space
Formerly vacant parcel adjacent
railroad tracks / across from Home
Depot
Projected Completion: 2022
Simi Valley Economic Development Projects
903 Quimisa – Entertainment Earth
865 E. Cochran – The District
181,000 SF Industrial Space
State of the art warehouse and
distribution center
Expansion of existing Simi Valley
business, keeping 200 jobs in the area
Projected Completion: 2022/2023
115,000 SF Industrial Space
Industrial Condos – 23 Total Units
Former site of SVUSD Offices
Completed 2021
Simi Valley Economic Development Projects
N. Chain - Xebec
4180 Guardian – Guardian Ridge
508,000 SF Industrial Space
Six Industrial Buildings
Former vacant parcel located south of
Cochran, north of Easy at Madera
Projected Completion: 2022/2023
49,980 SF Industrial Space
16 Industrial Condos
Former vacant parcel, south end of
Tapo Canyon across from RSRPD
headquarters
Projected Completion: 2022
Simi Valley Economic Development Projects
1800 Tapo Cyn – Tapo Commerce
4753 Los Angeles - Storage/Industrial
344,056 SF Industrial Space
Five Industrial Buildings
Former Vacant Office Space
Projected Completion: 2022
Two-Story Self Storage Facility
Formerly Vacant Parcel at east end of
Industrial
Projected Completion: 2022
New Business
Investing in Simi Valley…
Recent property purchases show continued growth
and strong investment in the City of Simi Valley.
The Villas at Wood Ranch / Overlook at Wood Ranch
- $190 Million
2280 Ward Avenue
- $46.4 Million
400 National Way
- $128 Million
1757 Tapo Canyon Road
- $52 Million
On the Horizon…
Simi Valley Town Center Development
EDC-VC Partnership – Expanding Presence in the
Community
Economic Development Strategic Plan Update
Retail Leakage Study / Business Retention
SB2 and LEAP Grant Funding
Los Angeles Avenue Corridor
Tapo Street / Santa Susana Plaza