Industry Briefs 11-23-23

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

ACCOUNTING

• Sage Forensic Accounting Inc., Salt Lake City, has elevated Amber Brower Mortensen to a shareholder in the firm. Mortensen has more than 15 years of experience and has knowledge in both litigious and non-litigious engagements related to forensic accounting, business valuations and fraud investigations. She advises and represents a range of clients on these matters, including tracing of marital assets, reconstructing accounting records and damage calculations. Mortensen also has been an officer with the Utah Chapter of Certified Fraud Examiners since 2014. She joined Sage in September 2005 and most recently served as manager. Her education includes an accounting degree from the University of Utah.

ASSOCIATIONS

• The National Institute of Corrections has invited Carrie Cochran, board chair of the Utah Board of Pardons and Parole, to join a committee tasked with developing new standards and training for pardons and parole organizations across the United States. The committee’s primary objective is to establish comprehensive standards and provide training resources that will enhance the decision-making process within pardons and parole organizations. By promoting structured decision-making, the committee aims to ensure fair and consistent outcomes while maintaining public safety and fostering successful reintegration into society. Through the Association of Parole Authorities International, the committee anticipates providing funding and technical support to states, ensuring the successful implementation of these new standards. Utah is one of five states invited to participate in the effort.

BANKING

• KeyBank has opened a new branch at 2807 S. 5600 W., West Valley City. The full-service branch will have financial wellness consultants rather than traditional teller lines. It will feature digital video screens and a client hospitality area that can double as an area for financial seminars and group presentations with clients and the public, as well as a drive-up teller line, ATM and free parking. To commemorate the new branch opening, KeyBank will invest $10,000 to local nonprofit Comunidades Unidas in support of its community efforts. Ohio-based KeyBank has about 1,000 branches and approximately 1,300 ATMs in 15 states.

CONSTRUCTION

• Vestar, a shopping center owner and manager in the western United States, and The Athens Group, a luxury development company creating hospitality assets, recently topped off construction on the hotel Asher Adams, located in The Gateway in Salt Lake City. The hotel will transform the 1909 Union Pacific railroad station into a 225-room Marriott Autograph Collection hotel. The hotel is scheduled to open in the fall of 2024. The Athens Group is restoring the train depot into 13 guest suites, in addition to an entirely new building that will house the remaining 212 modern guest suites. The hotel will also include multiple food and beverage outlets, including a patisserie, signature restaurant, two specialty bars, a 1,500-square-foot state-of-the-art fitness facility, 9,000 square feet of meeting and function space, and approximately 3,200 square feet of open-air gathering areas.

ECONOMIC INDICATORS

• Salt Lake City residents spend an average of $646 on car ownership, according to a study by Doxo. It is part of a study about average monthly payments for the 10 most common household bill categories. Nationally, U.S. households with auto loan and auto insurance bills spend an average of $674 per month, or $8,088 per year. Utahns spend an average of $143 per month on auto insurance, 31 percent less than the national average of 207, and $503 on auto loans, 7.8 percent higher than the U.S. monthly average of $467. The average cost of all monthly bills in Salt Lake City is $2,043.
• Heber City is ranked No. 5 on a list of cities with the fastest-growing rent for three-bedroom home rentals, compiled by Dwellsy, a home rental listing platform company. It mined its more than 14 million residential rental listings for statistics and data. The rate increased 19.9 percent from September 2022 to September of this year in Heber, with the most recent rate being $2,200. The largest increase was in Anderson, Indiana, with a September-to-September increase of 27.2 percent.
• Utah is ranked No. 47 on a list of states with the most distracted drivers, compiled by WhistleOut.com. It said Utah had three distracted driving fatalities per 1 million population in 2021. The most distracted drivers are in New Mexico, with 82 fatal crashes per 1 million population. Vermont and Alaska are the least distracted, with zero reported fatal crashes. Details are at https://www.whistleout.com/CellPhones/Guides/distracted-driving-by-state.
• The Alpine Loop Scenic Byway has been voted Utah’s “Best Drive for Fall Foliage in 2023” by Gunther VW Coconut Creek. It surveyed 3,000 people nationwide to determine America’s top 140 drives for fall foliage this year. The top drive nationwide is Seneca Trail US Route 219 in West Virginia. The Alpine Loop Scenic Byway is 46th nationally. Coming in at No. 112 is Mirror Lake Highway. No. 125 is Scenic Byway 12-Boulder to Torrey. Details are at https://www.gunthervw.net/top-140-fall-foliage-freeways.htm.
• Yale University is the top choice if Utah job-seekers were to lie on a resume, according to a study by USDictionary.com. It posed a hypothetical question to 3,000 job applicants nationwide: “If you were to lie about a college you had attended on your resume, which would it be?” Nationally, Harvard University took first place, followed by Stanford and Washington. Details are at https://usdictionary.com/research/prestige-or-pretense/.

GOVERNMENT

• The Central Wasatch Commission has released the final phase report associated with its Visitor-Use Study. The data collected through the study have been integrated into its Environmental Dashboard, serving as the foundation for a sixth “human” element, providing insight to any impact that human recreation in the Central Wasatch Mountains may have on the environment. The human element incorporates data that reflect the temporal and spatial dynamics of outdoor recreation use within Little Cottonwood, Big Cottonwood and Millcreek canyons. The data and findings will serve as a base of information that can be used to inform the decisions of both the USDA Forest Service as well as the many entities represented on the Central Wasatch Commission. A team led by Jordan Smith, director of the Institute of Outdoor Recreation & Tourism and professor in the Department of Environment and Society at Utah State University conducted the multi-year data collection and analysis for the study. He worked with Phoebe McNeally and her team at the DIGIT Lab, an auxiliary facility of the University of Utah Department of Geography that provides geographic information analysis and application development to integrate the study data into the Environmental Dashboard. Details are at cwc.utah.gov.

HEALTHCARE

• ARUP Laboratories, a Salt Lake City-based national reference laboratory and a nonprofit enterprise of the University of Utah and its Department of Pathology, has formed the ARUP Institute for Research and Innovation in Diagnostic and Precision Medicine. It aims to improve the lives of patients by advancing groundbreaking diagnostic and prognostic technologies and innovative tests. Dr. Tracy George is ARUP’s chief scientific officer and president of ARUP’s newly formed Innovation Business Unit, of which the R&I Institute is part. George joined ARUP in 2018. She was executive director of PharmaDx. Dr. Robert S. Ohgami, who has spent his career dedicated to translational research, will oversee the institute as vice president and chief medical director. Ohgami joined ARUP in 2022 and has continued his work in research and new assay development. He received his medical degree from Harvard Medical School before completing his residency in anatomic pathology, a clinical fellowship in hematopathology, and a postdoctoral fellowship in immunology and oncology research at Stanford University School of Medicine. While at Stanford, Ohgami contributed to the development of next-generation sequencing technologies, particularly targeted sequencing for myeloid neoplasms. At the University of California, San Francisco, Ohgami was central to operationalizing digital pathology in hematopathology and expanded novel applications of next generation sequencing to the diagnosis of lymphomas and leukemias. Joining the institute as its director is Erica Clyde, who started in laboratory medicine as a bench technologist more than 15 years ago and whose career has since expanded to include positions at ARUP. Recently, Clyde served as group manager in ARUP’s Clinical Trials department. She also played an instrumental role in ARUP’s research efforts during the COVID-19 pandemic. Institute leadership will also include experts Dr. David P. Ng, a hematopathologist who has developed transformational technology in flow cytometry and who will lead efforts in new applications of applied artificial intelligence (AI), machine learning and digital pathology. Salika M. Shakir is medical director of diagnostic technology evaluations and has conducted more than 20 in vitro diagnostic studies on the implementation of novel molecular assays for pathogen detection. Shakir will continue to collaborate with industry partners to develop and validate new testing technology.
• Gambia Health Foundation has announced $510,000 in new grant funding that aims to strengthen the behavioral healthcare workforce in Utah, Idaho, Oregon and Washington. This funding marks more than $1 million invested in the past year toward relieving the strain on the region’s healthcare workforce. Recipients of the new funding include Moab Free Clinic and the Utah Center for Rural Health, among 12 total recipients.

PARTNERSHIPS

• RevRoad, a sweat-equity firm for startup companies, is partnering with Kiln to host entrepreneurs in a coworking space at River’s Edge on University development at 2250 N. University Parkway, Provo. The new, 40,000-square-foot flex-office opened Sept. 18. allowing the RevRoad team, RevRoad portfolio companies and other local startups to claim their new office space. Kiln is the anchor tenant of River’s Edge development and offers flexible office and coworking space for individuals and teams of one to 100. Kiln is currently home to more than 3,100 members and 1,000 businesses across 10 locations in Utah and four other states.
• Select Health, a Salt Lake City-based nonprofit health plan, has announced a relationship with Vori Health, a nationwide specialty medical practice and industry leader in the treatment of muscle and joint pain. The agreement is aimed at addressing the needs of Select Health Medicare members by increasing access to services focused on improving health outcomes related to musculoskeletal pain and tools to reduce unnecessary orthopedic services.
• Scorpion, a Salt Lake City-based digital marketing technology company, and DentalXChange, a California-based dental payments platform company, have announced a partnership in which dentists that use DentalXChange will be able to find more patients, fill their schedules, and grow their practices faster with Scorpion’s marketing platform and Ranking.AI technology. Financial terms were not disclosed.
• Qualtrics, based in Provo and Seattle and focused on experience management, and WorkJam, a digital frontline workplace company, have announced a partnership aimed at improving frontline employees’ experience in order to improve the customer experience. Qualtrics’ conversational intelligence technology will combine with WorkJam’s app for frontline workers to give organizations a continuous pulse on the front lines of their businesses and surface insights into employees’ priorities, needs and concerns.
• The Utah Jazz and Travelpass have announced a partnership. Travelpass, based in South Jordan, is a booking platform for hotels and vacations worldwide. The multiyear agreement is designed to provide Jazz fans with access to special travel experiences starting with the 2023-24 season. Financial terms were not disclosed.

NONPROFITS

• The Park City Community Foundation will host “Live PC Give PC,” an annual day of community giving in Summit County and Park City, on Nov. 3. Last year’s event raised $5.2 million from more than 6,600 donors. The event will support 122 nonprofits. The fundraising happens online at livepcgivepc.org and will also feature in-person celebrations and other activities (https://www.livepcgivepc.org/p/eventschedule). Donations support nonprofits focused on social services, education, healthcare, animal welfare, trails, environmental efforts, and cultural and recreational programs. Nonprofits will compete for an additional $35,000 in prize money. The foundation will award cash prizes sponsored by Park City Mountain to the top three nonprofits in each of six broad mission-based areas with the most unique donors.

PHILANTHROPY

• The Davis Technical College Foundation has announced the largest gift in its history, a $6.4 million gift that came from the proceeds of the sale of the Skyline View apartment complex in Layton. In 2002, Roy and Elizabeth Simmons donated their ownership interests in the apartments to the foundation. The gift provided a yearly donation to the foundation for scholarships and other program needs for over 20 years. The Barlow Corp., who has managed the Skyline View apartments, facilitated the sale of the complex and recently presented the foundation with the check for $6.4 million.
• The Ken Garff Automotive Group and the Utah Jazz, in collaboration with the Salt Lake City School District, Salt Lake Education Foundation and four local schools, recently provided “Feast Boxes” to 350 food-insecure families in the district during the fall break. Valued at over $100 each, the boxes were filled with food and cleaning items. All items were selected based on a “wish list” provided by the foundation, a surprise gift of a Ken Garff/Utah Jazz blanket also was included. One family per participating school will also receive a VIP Jazz night experience, including game tickets, food, transportation and more.

REAL ESTATE

• CCP (Community Preservation Partners), an affordable housing preservation developer, has acquired Skyline View Apartments in Layton. Skyline View consists of eight two-story, garden-style buildings spread over three sites (443, 448 and 430 N. Fairfield Road). The 112 two-bedroom units will undergo renovations to interiors and exteriors, with construction expected to be completed in August 2024. CPP’s total development investment is approximately $39.5 million, which includes the purchase price of $22 million and an estimated per unit renovation cost of $70,000. CPP partnered with The Hampstead Cos., who will be the co-owner and co-developer. Other partners on the project include the Utah Housing Corp., who is the bond issuer and awarded 4 percent low-income housing tax credits. Key Bank is providing the construction and debt financing through a forward under the Freddie Mac TEL program. Skyline View is the second community for CPP in Utah.
• Groundbreaking of the Studio Crossing affordable housing development is scheduled to happen Oct. 25. Developed by Park City-based Crandall Capital, the 320,000-square-foot Studio Crossing will feature 208 affordable housing units, around 100 townhomes and condominiums, retail and dining, and open-air public spaces. Phase 1 of Studio Crossing is expected to be completed in 2025. The contractor is Steed Construction. Lead architect is Modern Out West.
• The Agency, a California-based global real estate brokerage, has launched its first franchise office in the Salt Lake City area, at 11781 S. Lone Peak Parkway, Suite 230, Draper. The new locale, to be known as The Agency Salt Lake City, is the firm’s third office in Utah. It will be led by Molly Jones and Joey Sutorius, who will serve as managing partners. Jones’ experience includes work at Cushman & Wakefield, two years as the training manager for Salt Lake Brewing Co., and returning to residential real estate with Coldwell Banker in 2014. She joined forces with Sutorius to form The MOJO Group. Her education includes a master’s degree in real estate development from the Ivory Boyer Real Estate Center at the University of Utah’s David Eccles School of Business. In addition to being part of The MOJO Group, Sutorius’ experience includes work as an electrician and brick mason, starting a construction company that he owned and operated, and serving in the U.S. Army.

RECOGNITIONS

• Two Utah entities were finalists for Stella Awards, presented each year by Northstar Meetings Group to honor the world’s best hotels, airlines, convention and conference centers, cruise lines, destination marketing organizations and destination management companies. Both were in the Southwest category. Hyatt Regency Salt Lake City was a finalist for Best Hotel/Resort Event Space. The Greater Zion Convention & Tourist Office was a finalist for Best CVB/DMO. Award winners are judged and voted on by meeting planners. A total of 242 organizations from around the world were honored.
• ARUP Healthcare Advisory Services and its AnalyticsDx Comprehensive platform have been honored with a “Choosing Wisely Champion Award” from the American Society for Clinical Pathology. The Healthcare Advisory Services team was recognized for its continued commitment to collaborate with health systems nationwide to better implement Choosing Wisely guidelines to optimize the use of both reference and in-house laboratory testing. Using ARUP’s AnalyticsDx Comprehensive platform, healthcare consultants help hospital clients identify opportunities to better align with industry best practices, reducing the use of inappropriate tests to cut costs and improve patient safety. Healthcare Advisory Services has deployed more than a dozen AnalyticsDx Comprehensive platforms in health systems nationwide. Members of Healthcare Advisory Services singled out in the Choosing Wisely Award are Madeline Green, product manager; Sandy Richman, director; Dave Shiembob, manager; and Jennifer Tincher, senior healthcare consultant.
• Rocky Mountain Power’s Blue Sky renewable energy program ranked first in overall green pricing sales in a national study by the U.S. Department of Energy’s National Renewable Energy Laboratory. NREL recently released its ranking of leading utility green power programs based on 2022 data and recognized the top 10 outstanding green power programs. PacifiCorp’s Blue Sky program, which includes participation by Rocky Mountain Power and Pacific Power customers, was recognized for the 21st consecutive year. PacifiCorp scored first in the top 10 list for green power sales based on December 2022 data. Blue Sky allows participants to match their energy usage with the purchase of renewable energy credits. Rocky Mountain Power provides electric service to more than 1.1 million customers in Utah, Wyoming and Idaho.

WHOLESALE

• A1 Distributing, a wholesale distributor of automotive parts and accessories in Utah and four other states, has named Royal Coburn as general manager and Anna Espinoza as sales manager. A1 is a subsidiary of BlackRidge LLC, a Salt Lake City-based development company. Coburn has 19 years of experience in the wholesale aftermarket. He served as an outside sales rep for four years and then co-founded TruckTech Distributing in 2009. It was later sold to WD Premier Performance. Daughter of A1 Distributing’s founder, Espinoza has 21 years of experience in the automotive accessory industry.