page_title: Thousand Oaks, California
section_title: Economy
hierarchical_section_title: Thousand Oaks, California / Economy
caption_attribution_description: English: Sage Publications world headquarters in Newbury Park, CA.
context_page_description: Thousand Oaks is the second-largest city in Ventura County, California, United States. It is in the northwestern part of Greater Los Angeles, approximately 40 miles from Downtown Los Angeles, and is less than 15 miles from the Los Angeles neighborhood of Woodland Hills. It is named after the many oak trees present in the area.
  The city forms the central populated core of the Conejo Valley. Thousand Oaks was incorporated in 1964, but has since expanded to the west and east. Two-thirds of neighboring Westlake Village and most of Newbury Park were annexed by the city during the late 1960s and 1970s. The Los Angeles County–Ventura County line crosses at the city's eastern border with Westlake Village. The population was estimated to be 126,813 in 2019, up from 126,683 at the 2010 census.
context_section_description: While agriculture was the dominant industry in Thousand Oaks until the 1950s, a number of high-tech companies moved to Newbury Park in the 1960s. Today it is home to a number of high-tech and biotech companies, and has been dubbed "the next Silicon Valley" for this reason. Thousand Oaks has been named one of the wealthiest cities in the United States. It was ranked the seventh richest city in America by Trulia in 2013, while it was ranked the 13th wealthiest U.S. city by NerdWallet in 2016.
  The city's economy is based on a range of businesses including biotechnology, electronics, automotive, aerospace, telecommunications, healthcare, and financing. Amgen, Teledyne Technologies, SAGE Publications, and Skyworks Solutions have corporate headquarters in the city, while Bank of America, Baxter International, General Dynamics Corporation, Verizon, Verizon Wireless, Volkswagen, Audi, General Motors, BMW, Silver Star Automotive Group, and Anthem Blue Cross manage regional offices. Thousand Oaks also has large employers as Los Robles Hospital & Medical Center, Conejo Valley Unified School District, City of Thousand Oaks, Hyatt Hotels, and California Lutheran University headquartered in the city. The city was also the former home to the corporate offices of Wellpoint and GTE, which later became Verizon, which relocated in the last decade. Hewlett-Packard was also previously located here.
  J.D. Power and Associates is headquartered in Thousand Oaks. J.D. Power began moving its employees from its former headquarters in Agoura Hills, California, to its current headquarters in the Westlake section of Thousand Oaks in the weekend after April 11, 2002. The communities of Thousand Oaks, Westlake Village, and Agoura Hills are served by the Greater Conejo Valley Chamber of Commerce, one of the few in California to receive four-star accreditation from the United States Chamber of Commerce.
  Measure P, a marijuana business tax, was approved by voters in November 2018.
  Demographic data shows that more and more of the local labor force lives within 20 miles of their place of work, and fewer Thousand Oaks residents are making the 30-mile commute to Los Angeles. Over 40 percent of residents are employed as executives or business professionals.
  The median home price is $699,900, which is over twice the national median home price. It had the second-highest median home prices in Ventura County in 1999.
caption: Sage Publications is headquartered in Newbury Park, CA.
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