How $159 Million Benefits Oxnard at the Channel Islands Harbor
By: Stacy Miller, Chair of the Board
Would you be surprised to learn that the businesses and tenants of Channel Islands Harbor had a total economic impact of more than $159 million in 2016 (direct and indirect), according to a report recently published by the California Economic Forecast?
Our little gem on the coast is credited with $74 million of direct economic impact to the Ventura County economy in 2016. The Channel Islands Harbor, which is one of the few growing employment centers in the County, also facilitated 920 full-time-equivalent jobs.
The report anticipates that two proposed developments, including the Hyatt House and restaurant (formerly the Casa Sirena Hotel) and redevelopment of Fisherman’s Wharf (east side) could increase economic activity by over 60 percent.
The highest performing business category for the Harbor in 2016 was dining, which grossed an estimated $19 million in sales. Real estate was the next highest performing category at nearly $12 million in gross sales. The remaining categories, in rank order of gross sales were: boating services, hotels, sportfishing, commercial fishing, personal services, other recreation, boat sales, yacht clubs, other retail, healthcare, insurance, boating supplies, education and home services.
Back in the 1960’s and 70’s, the Channel Islands Harbor was built as a recreational harbor on 310 acres of land and water, with about 2,150 boat slips, as well as marina facilities, restaurants, sportfishing facilities and shops. In 2016, the marinas were 70 percent full.
The Channel Islands Harbor is divided into three areas (west, east and peninsula) served by separate public roads, with each area providing different services. The west side includes marinas, a linear park, restaurants, residential development and retail businesses. The peninsula is dominated by hotel development, marinas, apartments and condominiums.
The east side is primarily commercial and serves boaters by offering boat yards, a marine supply store, boat sales, law enforcement, administration and search and rescue facilities. It's that east side that really needs a makeover to generate more revenue and become the destination it was intended to be.
Owned and operated by the County of Ventura, the majority of the Harbor is operated by businesses that have been granted long-term ground leases by the Ventura County Board of Supervisors
Since 2012, Channel Islands Harbor business activity outperformed overall business growth throughout Ventura County, at 6.3 percent annually.
The Hyatt House is a 206-room hotel with a 5,400 square foot restaurant. This $25 million project is expected to begin construction later this year. Fisherman’s Wharf at the Channel Islands Harbor (www.fishermanswharfoxnard.com) is a proposed $100 million mixed use project that includes high-end apartments, restaurants, shops and commercial development to replace the dilapidated Fisherman’s Wharf at the Channel Islands Harbor.
Good things are happening in Oxnard and with the addition of a new hotel and proposed mixed-use project, our Channel Islands Harbor will be the shiniest gem on the California coast!
Here’s to a great future!
The economic impact study, which was released in 2018, can be found at: channelislandsharbor.org.