Industry Briefs 10-16-23

Industry Briefs are provided as a free service to our readers. Company news information may be sent to brice.w@thecityjournals.com. The submission deadline is one week before publication.

ARTS/ENTERTAINMENT

• The Governor’s Office of Economic Opportunity board, at its October meeting, approved a film production cash rebate of $80,600 for Fire Frog Media LLC for its production of “Good Fire,” a documentary. The company is expected to spend $403,000 in Utah, including during principal photography scheduled through Aug. 31, 2024, in Salt Lake and Utah counties. The documentary will tell a story of “a land out of balance and of the indigenous people using their ancient knowledge of fire to heal the world. Meanwhile, the world has come to understand that climate change, indicated in part by the spate of catastrophic fires in the western U.S., represents a threat to their way of life,” according to GOEO documents. The directors are Roni Jo Draper and Marissa Lila. The producers are Jenn Lee Smith, Nicola Docta and Camlyn Giddins.

BANKING

• TAB Bank, an Ogden-based online bank, has promoted Austin Strong to chief strategy officer. Strong will work to enhance and execute TAB Bank’s strategic vision, identify promising growth and investment opportunities, and collaborate with fintech partners to further drive TAB’s innovation in banking. Strong started with TAB 11 years ago, initially as the director of internal audit and most recently as the executive vice president of digital banking. In his new capacity, he will continue to drive digital banking operations, data analytics/BI, customer experience, marketing and strategic partnerships. Before joining TAB Bank, Strong worked with Ernst & Young in its assurance practice. Strong became a vice president of real estate banking at Zions Bank and spent several years as the director of internal audit at TAB, working with the bank’s Audit Committee and board of directors to oversee the independent evaluation of TAB’s risk and control framework. Strong is a Certified Public Accountant and received his undergraduate and graduate degrees in accounting from Weber State University.
• UFirst Credit Union has opened its first branch in Saratoga Springs, at 213 W. Crossroads Blvd. It offers a full-service lobby and drive-through equipped with automated ITMs (interactive teller machines) for transactions when the lobby is closed. The branch manager is Gabe Barajas.

ECONOMIC DEVELOPMENT

• The Economic Development Corporation of Utah has hired Greg Bisping as director of community strategy; Jaime Hernandez as Utah Inland Port Authority project manager‍, Spencer Layton as business development analyst, and Andy Pham as marketing production specialist. Bisping will oversee EDCUtah’s Site Ready Utah initiative and also leverage his background in program development to reimagine EDCUtah’s offerings to public-sector investors. Prior to joining EDCUtah, Bisping spent nine years fostering partnerships among the University of Utah, its students, and the real estate and financial services business community. His experience includes talent development, community engagement and growth-oriented programming. Bisping earned an MBA at Westminster College and a B.A. in mass communications at the University of Utah. Hernandez will manage corporate expansion and recruitment projects to any of the Utah Inland Port Authority sites. His experience includes local economic development in Texas, as well as regional economic development with the Seattle Metropolitan Chamber of Commerce. Hernandez earned an MBA at Brigham Young University and a B.S. in business at BYU-Idaho. Layton will oversee corporate recruitment and expansion projects in the manufacturing industry. He previously worked in the financial services industry. He earned a B.S. in finance at Ensign College. Pham will collaborates with his team to improve EDCUtah’s digital marketing infrastructure and produce content that shares EDCUtah’s vision and success with clients and investors. Pham earned a B.S. in marketing at Western Governors University and an A.S. in graphic communication at Salt Lake Community College.

ECONOMIC INDICATORS

• Utah is ranked No. 1 on a list of states decorating the most for Halloween, compiled by Lombardo Homes. Utah’s most-popular decorations focus on spiders and spider webs. The study analyzed 7,330 Google search terms related to Halloween decorations and buying themed décor. Nationwide, the top Halloween decorations are pumpkins, corn stalks and skeletons. The least-decorated state is New York. Cities with the most Halloween décor are Denver, Las Vegas, Baltimore, Nashville and Seattle. Spending by Americans for their Halloween decor is expected to reach an average of $87, up from $61 in 2022, and decorating will take an average of three hours. Details are at https://lombardohomes.com/most-popular-halloween-decorations-by-state-2023/.
• Several Utah universities are ranked in the RentHop College Rent Report, a look at the cost of off-campus housing, compiled by nationwide apartment listing website RentHop. The rankings, based on median rent around campus, include No. 63 Utah Valley University ($1,795), No. 96 Weber State University ($1,375), No. 103 University of Utah ($1,299), No. 105 Utah State University ($1,275) and No. 117 Brigham Young University ($1,195). BYU-Idaho comes in at No. 138 ($995). Among the 150 largest colleges in the U.S., New York University has the highest-cost off-campus housing, with median rent around the campus is $4,800 per month. The amount is $800 per month at Ball State University. Details are at https://www.renthop.com/research/college-rent-report/.
• Twenty-two percent of online gamers in Utah, or 734,000 people, report that they are sleep-deprived due to their gaming activities, according to a study by Online-Solitaire.com. It conducted a survey and combined those results with data from County Health Rankings to reveal where America’s most sleep-deprived gamers reside. The most-effected in Utah are in Ogden and Price, both 26 percent; Nephi, 24 percent; Roosevelt, 23 percent; and Tooele, 23 percent. Online gamers in Virginia are most-effected, at 30 percent. Among cities, Eutaw, Alabama, 35 percent of gamers reported the condition. Details are at https://online-solitaire.com/blog/states-with-the-most-sleep-deprived-online-gamers-in-2023/.
• Salt Lake City is ranked No. 23 and West Valley City is No. 154 on a list of “Best Cities for Carless Living,” compiled by HVAC Gnome. It compared the 200 biggest U.S. cities on walkability, bikeability, transit ridership and pedestrian safety, among 23 total metrics. The top-ranked city is San Francisco. The bottom-ranked city is Mobile, Alabama. Details are at https://hvacgnome.com/blog/studies/best-cities-carless-living/#rankings.
• Several Utah cities are ranked on a list of “Most Vulnerable Cities for Burglaries,” compiled by Fence Gnome. It compared nearly 500 of the biggest U.S. cities based on target attractiveness, average home value and share of single-unit detached homes, and burglary prevalence. Utah cities in the rankings are No. 50 Sandy, No. 65 Salt Lake City, No. 66 South Jordan, No. 78 West Valley City, No. 123 Ogden, No. 180 Layton, No. 202 West Jordan, No. 236 St. George, No. 313 Lehi, No. 373 Orem and No. 468 Provo. The most-vulnerable city in the rankings is Jonesboro, Arizona. The least-vulnerable is Alexandria, Virginia. Details are at https://fencegnome.com/blog/studies/most-vulnerable-cities-burglars/#rankings.

EDUCATION/TRAINING

• The University of Utah Department of Entrepreneurship & Strategy, in partnership with the Lassonde Entrepreneurship Institute at the David Eccles School of Business, has welcomed 47 founders into the Master of Business Creation program for the fall. It is the largest cohort since the program launched in 2019. They will have available personalized mentoring, applied curriculum, generous scholarships, access to grants and more. Nineteen of the founders who started 18 companies are enrolling in MBC Online, a virtual, part-time option that spans three semesters. Twenty-eight of the founders who started 26 companies are enrolling in MBC Full-Time, an in-person option that spans two semesters. Some of the startups have more than one founder in the program.

FINANCE

• Kairos Investment Management Co., based in California, has provided an $8.14 million senior bridge loan to a private real estate firm to support the conversion of a former data center in downtown Salt Lake City into a multifamily and retail development at 205 E. 200 S. The site includes a parking lot and an approximately 350,000 square-foot vacant building.

GOVERNMENT

• The U.S. Environmental Protection Agency has announced a settlement with Texas-based XTO Energy Inc., a subsidiary of Exxon-Mobil, resolving alleged violations of the federal Safe Drinking Water Act’s Underground Injection Control program at three injection wells within the Uintah & Ouray Indian Reservation in the Uinta Basin. The settlement requires the company to pay a civil penalty of $19,718.08 for its violations of UIC requirements. XTO failed to timely provide the agency with all information necessary to transfer the permits from XTO to Utah Gas Corp. and failed to notify the agency of the loss of mechanical integrity for one of its wells and to take prompt action to repair the well. The wells are in Uintah County and are used for disposal of brine produced from nearby gas production wells that were also operated by XTO.

HEALTHCARE

• Seek Labs, a Salt Lake City-based company doing research in infectious disease diagnostic systems and pharmaceuticals, has appointed Robert W. (Charlie) Turner as vice president of business development. Turner has over 20 years of experience in corporate development and has held leadership roles in over 40 biopharmaceutical industry strategic transactions, with a cumulative deal value exceeding $3 billion. Turner also brings a strong background advising early-stage companies, venture capital experience, and consulting. Turner was the principal consultant and founder of Tri-Bio Ventures LLC and held senior business development leadership roles at POZEN, Pappas Ventures, Novartis Consumer Health and Glaxo Wellcome. Turner’s education includes a B.S. in accounting from the Marriott School of Business at Brigham Young University.
• Select Health, based in Salt Lake City, and its pharmacy benefits manager, Scripius, have announced that it is one of the first health plans in the United States to provide member access to Mark Cuban Cost Plus Drug Co. PBC. The collaboration grants Select Health members direct access to Cuban’s prescription drug service. The collaboration encompasses medications for many common conditions, including high blood pressure, certain cancers, dementia, asthma, diabetes and more. Select Health members will have access to more than 1,000 prescription products at potentially lower prices than traditional pharmacy locations.

INTERNATIONAL

• Utah Global Diplomacy, aiming to promote respect and understanding between the people of Utah and other nations, has appointed Brad Winn, Edward Lopez, Raymon Burton and Thomas Appiah to its board of directors. Winn is professor of practice in leadership and strategy at the Jon M. Huntsman School of Business at Utah State University. where he directs the Executive MBA program. Winn has experience in higher education and government, having served in executive positions and as a former member of the Utah State House of Representatives. Lopez is deputy director of community engagement at Promise South Salt Lake. Burton is executive director of One Refugee, a nonprofit focused on providing refugees with access to higher education and professional careers. Appiah is president and CEO of Appiah Consulting Team International Inc. and actively promotes diversity and inclusion as a member of the Diversity Board at Zions Bank.
• World Trade Center Utah is seeking Utah aerospace manufacturers, contractors and industry-aligned companies that want to participate in shared booth space at the Singapore Airshow, scheduled for Feb. 20-25. The Utah booth is sponsored by WTC Utah, in partnership with the Governor’s Office of Economic Opportunity and the Utah Aerospace and Defense Association. The cost is $500 to secure a spot in the Utah booth. Registrations are being accepted until Dec. 1. Details are at https://www.wtcutah.com/tradeevents/singapore-airshow-2023.

LAW

• Gordon Rees Scully Mansukhani has added Kyle C. Thompsonas a partner in the firm’s Salt Lake City office. He joins the commercial litigation, construction, environmental/toxic tort, and trucking and transportation practice groups. Thompson has experience in handling a variety of types of litigation, including complex business and commercial matters, insurance coverage claims, wrongful death and personal injury claims, asbestos claims, and railroad liability and FELA claims. Thompson also has been involved in appellate practice with respect to those claims in both federal and state court. He joins the firm from Lewis Brisbois. He earned his law degree from the Brigham Young University J. Reuben Clark Law School and a B.A. in communications from BYU.

NONPROFITS

• The Salvation Army has relocated its headquarters to 568 W. Telegraph Road, Suite 4, Washington. It previously was in the former Kmart shopping center on Bluff Street. NAI Excel assisted the Salvation Army with the relocation.

PARTNERSHIPS

• Autonomy, a California-based electric vehicle subscription company, has announced a partnership with EV Auto, an EV-only car dealership based in Bountiful. The collaboration aims to expand access to affordable and hassle-free EV ownership in dealerships across the country. Through the partnership, EV Auto can serve a broader range of customers, including those who may not qualify for conventional loans or leases. Autonomy’s technology platform empowers dealerships like EV Auto to diversify their services, addressing the needs of customers seeking flexible alternatives to traditional financing.
• Stein Collection, a Park City-based company focused on luxury travel, has announced a partnership with Evertreen, an organization that facilitates tree planting in deforested regions around the globe. Stein Collection has committed to having 1,000 trees planted in vulnerable areas by the end of 2023 with thousand more in the years to come. The collaboration aims to combat deforestation and promote habitat protection in 12 countries worldwide.
• The Utah Jazz have announced a new multi-year partnership with Just Ingredients, a Lindon-based brand offering wellness and beauty products. Financial terms were not disclosed. Among elements of the partnership, Just Ingredients will sponsor the Jazz’s annual 3v3 Tournament that takes place during the annual Salt Lake City Summer League and a Ladies’ Night at Delta Center on March 4.

PHILANTHROPY

• AgileDad, a promoter of Agile Project Management, in November will host six free certification courses exclusively for 150 current and former military veterans at Salt Lake Community College in Sandy. It is seeking sponsors to help with the effort. Details are at learnmore@agiledad.com.

REAL ESTATE

• Mountain West Commercial Real Estate, a commercial real estate brokerage and advisory firm, has added Jeffery Sorenson, Futi Tavana, Taylor Ogden and Tupu Folau to its Utah County office, with Sorenson and Tavana leading the team. Sorenson has a 12-year track record in the commercial real estate sector. Over the past seven years, he has orchestrated $239 million in investment transactions across various submarkets, including industrial, multifamily, retail, storage, office and land. Tavana has a record of transactions totaling over $80 million. Futi’s expertise covers a range of property types, including manufactured housing, multifamily, and industrial properties.
• LGI Homes Inc., a Texas-based homebuilder, has opened its newest community, Oquirrh Mountain Ranch, in Eagle Mountain. It is the company’s first community in the state of Utah and represents the company’s 21st state of operation.
• Piper Sandler Co.’s Utah public finance group has moved into its new offices in the new Class A high-rise tower at 95 S. State St., Salt Lake City. The company occupies more than 4,200 square feet on the 24th floor of the building, which was developed by City Creek Reserve and opened in 2022. The office has the capacity for the company to grow to 15 employees. Piper Sandler’s broker for the office space was Jeff Rossi of Newmark.

RECOGNITIONS

• Sports Salt Lake, a division of Visit Salt Lake, was awarded the “Best Host City” at the 2022 SportsTravel Awards during the TEAMS Conference & Expo in California. TEAMS stands for Travel, Events And Management in Sports. The SportsTravel Awards are nominated and voted on by the readers of SportsTravel. Criteria for nomination and voting for the 2023 SportsTravel Awards program included events that occurred or venues that opened between Aug. 1, 2022, and July 31, 2023. In 2022, Sports Salt Lake welcomed over 60 events to the area, with a collective direct spend of more than $119 million.
• The Center for Urban Transportation Research at the University of South Florida has recognized the Utah Transit Authority for providing outstanding commuter benefits for the agency’s 2,800 employees. UTA meets most all of the criteria set forth for this 2023 Best Workplace for Commuters designation by offering free transit passes to employees. In addition, UTA also offers shuttles to and from transit stations, vanpool subsidies, guaranteed ride home options, teleworking alternatives and condensed workweek options.
• BZI, a Kanarraville-based company focused on construction and technology for building processes, received the Rural Investor Award from the Utah Inland Port Authority at the One Utah Summit in Cedar City. BZI and affiliate companies recently hosted a groundbreaking of the 820-acre sustainable industrial park, Commerce Crossroads, and the grand opening of its first tenant, RailSync, in Cedar City. Founded in 2016, the BZI family of companies operates through three primary organizations: Building Zone Industries LLC, responsible for steel erection; BZI Steel LLC, specializing in steel fabrication; and InnovaTech LLC, specializing in designing, engineering and manufacturing innovative construction equipment and processes to enhance efficiency and safety on the job.
• University of Utah Health has earned recognition from the American Medical Association as a Joy in Medicine-recognized organization. The distinction is granted only to organizations that attest to the criteria of the Joy in Medicine Health System Recognition Program and demonstrate a commitment to preserving the well-being of clinical care team members through proven efforts to combat work-related stress and burnout. Since its inception in 2019, the Joy in Medicine Health System Recognition Program has recognized more than 100 organizations across the country. In 2023, 72 health systems nationwide earned the designation.
• Fear Factory, a Salt Lake City-based haunted attraction, has been named to a list of “top haunts of 2023” by the Haunted Attraction Association. It is the second time in the past three years it has been named to the list of the HAA’s top haunts. To be eligible, award recipients must be members of the HAA while meeting a list of 10 criteria that are tied directly to the organization’s mission of protecting customers, promoting haunted attractions and educating industry experts and employees.
• The University of Utah has announced the recipients of the inaugural Innovation Awards, recognizing researchers at the UofU who are working to translate their research into technologies that benefit the public. Recipients are: Excellence in Innovation Undergraduate Student, James Walker, a second-year undergraduate in the Department of Mechanical Engineering; Excellence in Innovation Graduate Student, Jack Silcox, who came to the UofU in 2018 to study cognition and neural sciences in the Department of Psychology and has since received both his M.S. and Ph.D. degrees; Investigator on the Rise, Mei Yee Koh, whose research has the goal of identifying mechanisms by which tumor hypoxia and the hypoxia-inducible factors, HIF-1 and HIF-2, drive outcomes that promote cancer progression and resistance to therapy and to develop therapeutic approaches to address these issues; Advancement of EDI in Research, Keke Fairfax, associate professor and director of equity, diversity and inclusion for the Department of Pathology; Innovator of the Year, Jacob George, a professor in the electrical and computer engineering and physical medicine and rehabilitation departments and director of the Utah NeuroRobotics Lab; Innovation Impact, Jared Rutter, biochemistry professor, and Kevin Hicks, a research instructor in the Department of Biochemistry; Breakthrough of the Year, Bone Bolt, developed by Dr. Louis S. Peery as a new system for fixing bone fractures; and Lifetime Achievement, Gregory Hageman, executive director of the John A. Moran Eye Center’s Sharon Eccles Steele Center for Translational Medicine and the John A. Moran Professor Endowed Chair of Ophthalmology and Visual Sciences.

RESTAURANTS

• I Heart Mac & Cheese has opened its first Utah location at 1287 N. Canyon Creek Parkway, Spanish Fork, in the Canyon Creek Shopping Center. It is owned and operated by Cody and Lacy Molyneaux of Payson. It specializes in made-to-order macaroni and cheese bowls, grilled cheese sandwiches and a variety of health-conscious options. Florida-based I Heart Mac & Cheese has 42 locations nationwide.

RETAIL

• The board of directors of Overstock.com Inc., a Midvale-based owner of the Bed Bath & Beyond brand and other intellectual property related to the brand. has appointed Marcus Lemonis as its newest independent director. Lemonis is the chairman and CEO of Camping World. He appears on CNBC’s “The Profit” and his TV show “The Renovator.” He has more than 25 years of business development, corporate retail and entrepreneurship experience. With the addition of Lemonis, the Overstock board now has nine members, eight of whom are independent.
• Smith’s Food & Drug will build a Smith’s Marketplace store at Pioneer Road and Bluegrass Way in St. George. A groundbreaking recently took place for the 123,000-square-foot, multi-department store that will include sushi and Starbucks Coffee cafe, salads and sandwiches, hot/cold chicken, fresh seafood, Boar’s Head Meats and Murray’s Cheese. The store also will have a floral department, apparel, household goods, a drive-through pharmacy, online grocery pick-up, and on-site Smith’s Fuel Center. The $31 million store also will have a special parking section and golf cart path designed to accommodate golf carts from the nearby SunRiver Community. The new store will have 230 when completed in the fall of 2024. The builder is R&O Construction.

SUSTAINABILITY

• Switch2Zero, a London-based company focused on sustainable technology, has appointed Derek White as chairman. White is CEO at Galileo Financial Technologies, based in Sandy. White’s career of more than 25 years includes launching, leading, re-imagining and transforming international companies across both consumer and corporate sectors. He led Google Cloud Financial Services and led digital transformation at Barclays, BBVA and US Bank.

TECHNOLOGY

• Diamond Lake Minerals Inc., a Salt Lake City-based company specializing in the development and support of digital assets and SEC-registered security tokens, has appointed Agnes Budzyn as a strategic advisor. Budzyn is an entrepreneur and board member with experience in blockchain, digital assets and traditional finance. Budzyn serves as managing partner of Bluedge Ventures, where she focuses on investments in blockchain and digital assets infrastructure technology, with an interest in early-stage companies. Her career spans over a decade in traditional finance, including a significant role at BlackRock. She also was an early member of the leadership team at ConsenSys. Budzyn is a member of the board of directors at the Biden Institute, the FTSE Russell Digital Asset Advisory Committee and the Yale Club Audit Committee.