Ventura staff reports year-one progress on economic strategy; accelerator and catalyst projects prioritized

City economic development staff summarized year-one implementation of the 2025'2030 Ventura Vibrant Vision, reporting an initial set of outcomes and next steps.

Staff said the city distributed roughly $215,000 in small-business loans last year, held nine partner workshops with 195 participants, created a small-business studio program for one-on-one data support, and is finalizing a cluster analysis with an interactive GIS map to locate industry clusters. "We're building tools to better connect residents with employment opportunities and help businesses scale up here," economic development staff said.

The presentation outlined six strategic focus areas: driving export industries, emerging industries, tourism and hospitality, lifestyle/retail, city processes (including a catalyst-project program), and resource allocation. For driving-export and emerging industries, staff emphasized industry outreach, training connections with Ventura County and Ventura College, and efforts to retain local employers.

Members and local business owners pressed for operational fixes they said would have an outsized effect on retention: streamlining permit steps, clarifying downtown zoning constraints (examples cited included veterinary-medical-use limitations under the downtown plan), and improving front-line assistance so businesses know to contact economic development early in the permitting process.

The subcommittee discussed a proposed business accelerator to support startups and clusters; staff estimated annual operating costs between $400,000 and $450,000. Staff reported the subcommittee has set aside nearly $50,000 to support initial fundraising and the team is pursuing private and philanthropic partners to cover most operating costs. "We are seeing ourselves as a partner as we move forward and try to figure out how to stand something like this up," a staff member said.

Staff also emphasized the catalyst-project program intended to expedite approvals for priority developments and said work will continue to finalize criteria and internal review steps. Staffing remains an issue: the economic strategy assumes a four-person team and staff said funding for a fourth position is included but title and reporting structure remain to be finalized.

Next steps: complete the cluster analysis, expand business outreach and communications, launch the catalyst project process, finalize the accelerator business plan and fundraising approach, and recruit remaining staff to meet the five-year strategy goals.