Thousand Oaks-based California Lutheran University will open a Westlake Village location this year that will house a new business incubator, its graduate business programs and its economic forecasting center.

The school said Jan. 30 that the planned 18,000-square-foot facility will house four classrooms and five offices wrapped around a co-working incubator space. That effort joins a recently announced seed fund for student startups.

The school’s MBA program and its Center for Economic Research and Forecasting will also move to the new facility, which will be more easily accessible from Highway 101.

“The space is the next step in CLU’s effort to expand entrepreneurship opportunities,” the university said in a press release.

The new center will be at 31416 Agoura Drive 31416 in the new LC3: Lindero Canyon Creative Campus. The facility is part of a broad expansion push by the private university that included a merger with Berkeley-based Pacific Lutheran Theological Seminary last summer. The university also offers classes at centers in Woodland Hills, Oxnard and Santa Maria.