On Thursday, June 23rd at the Ventura Beach Marriott, the Economic Outlook Breakfast “Our Past, Present and Future” for was held. This year’s breakfast primarily focused on two of the most vital industries to the City of Ventura: the oil industry and the agricultural industry.
Representing the oil industry at the breakfast was Bob Poole, who is currently the Vice President with the Western States Petroleum Association.
His presentation covered a wide variety of different issues related to the oil industry in Ventura. Mr. Poole stated that the City of Ventura has been producing oil for over 100 years, that Californians use 2 million barrels of oil a day (and we only produce 38% of that), also 26% of what we pay per gallon at the pump are taxes, and that the oil industry in Ventura County generates 12,469 jobs.
Representing the Agricultural Industry was Edgar Terry with Terry Farms, Inc. who is engaged in Ventura County’s agricultural community with his family company Terry Farms, Inc., which produces various vegetable and strawberry crops on 2,000 acres. He is also Senior Adjunct Professor at California Lutheran University where he teaches corporate finance in the Degree for Professionals Evening Program and the Master of Business Administration Program.
He explained that agriculture makes up 4% of the economy in Ventura County, that Ventura County ranks in the top 15 highest producing agricultural counties in the country. He hopes that more young people will go into the agriculture industry because of the opportunities that are available today
“As our City celebrates its sesquicentennial, we thought it only fitting to explore our rich history and examine the legacy of our agricultural and oil roots that were the catalyst in growing our community and our region,” said Stephanie Caldwell, President and CEO of the Ventura Chamber.
