Industry Briefs 10-30-23

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ARTS/ENTERTAINMENT

• Salt Lake City has won a $1 million grant for public art addressing the Great Salt Lake’s environmental crisis. It is one of eight winning cities across the country to receive $1 million as part of the Bloomberg Philanthropies Public Art Challenge. The grant program supports temporary public art projects that address important local civic issues in U.S. cities. The Salt Lake City Arts Council’s proposed project, “Wake: the Great Salt Lake,” aims to address the shrinking of the Great Salt Lake caused by humans and climate change by curating and installing several temporary public artworks by local, regional and internationally recognized artists that speak to this environmental crisis. It is the largest grant ever awarded to the Salt Lake City Arts Council.

ASSOCIATIONS

• Jonathan O. Hafen, a shareholder at Parr Brown Gee & Loveless, Salt Lake City, has been sworn in and installed as the national president of the Federal Bar Association. Hafen was sworn in at the association’s annual meeting and convention in September in Tennessee. His term began Oct. 1. The Federal Bar Association has more than 15,000 members, including over 2,000 federal judges. As a shareholder at Parr Brown, Hafen handles a wide variety of litigation, including in the areas of securities and investment, receiverships, employment law, breach of contract, property disputes, entertainment, intellectual property, insurance coverage, class actions, construction, legal malpractice defense, and more. In addition to his work as a trial lawyer, he serves as legal counsel to a number of startups, midsize businesses and multinational companies. In addition to his new position as the FBA’s national president, Hafen has served in a number of similar positions, including as president of the BYU Alumni Association; as chair of Tuacahn Center for the Arts; as chair of the Utah State Bar’s CLE Advisory Committee; as chair of the Utah Supreme Court’s Advisory Committee on the Rules of Civil Procedure; and as a board member of the Utah Center for Legal Inclusion, the Women’s Leadership Institute and the Utah Tennis Association.
• Kevin Murray, a partner in Holland & Hart’s Salt Lake City office, has been elected as president of the American College of Environmental Lawyers. He previously served one term as ACOEL’s president-elect, two terms as ACOEL’s treasurer, one term on the ACOEL Board of Regents, and was inducted as a Fellow in 2017. Murray has expertise on complex contamination issues, particularly those involving multi-jurisdictional and multi-agency matters in the real estate, mining, energy, petroleum, nuclear and manufacturing industries. His practice focuses on managing environmental liabilities, repurposing real estate assets, and creating value through property remediation and planning. He earned a B.A. from Brigham Young University and his J.D. from BYU’s J. Reuben Clark Law School.

BANKING

• Zions Bancorporation NA, Salt Lake City, has hired Margaret Mayer as chief technology officer. Mayer will manage all information technology functions for the organization, including application engineering, technology operations, technology strategy, data engineering and technology infrastructure. Mayer joins Zions after three years at Discover Financial Services, most recently as vice president and CTO for the Consumer Banking Technology teams. She also held various senior technology roles at Capital One over 22 years, including managing vice president of messaging, conversational AI and emerging technologies. An advocate for technology education, Mayer served as an advisory board member of the computer science department at Virginia Commonwealth University and is the past board chair and current board member of CodeVA, a nonprofit that partners with schools, parents, and communities to bring equitable computer science education to students across Virginia.
• Chartway Credit Union, a Virginia-based organization that has two bilingual branches in the Salt Lake City area (West Valley and Salt Lake Crossing), has received the Juntos Avanzamos designation from Inclusiv, an organization dedicated to closing the gaps and removing barriers to financial opportunities for people living in distressed and underserved communities. Credit unions dedicated to serving and empowering Hispanic and immigrant communities receive this designation. Out of more than 4,000 credit unions in the United States, only 134 have earned the designation. Chartway serves more than 200,000 members with branches in Utah, Texas and Virginia.

DIGITAL ASSETS

• Diamond Lake Minerals Inc., a Salt Lake City-based company specializing in developing and supporting digital assets and SEC-registered security tokens, has added Brandon Fugalas a strategic advisor. Fugal is chairman and co-owner of Colliers International in Utah. Before merging and partnering with Colliers, he was co-founder and owner of Coldwell Banker Commercial Advisors. In addition to his commercial real estate endeavors, Fugal is an active entrepreneur and investor, co-founding and leading companies including Cypher, Axcend and Texas Growth Fund.

ECONOMIC INDICATORS

• Utah is ranked No. 8 on a list of “Top States for Remote Workers,” compiled by Developers For Hire. It considered factors like community engagement, Internet speeds, and natural beauty. Among the factors, Utah is ranked No. 29 for cost of living, No. 22 for Internet speed, No. 23 for recreation and nightlife, No. 4 for outdoor beauty, No. 32 for community engagement, and No. 5 for the percentage of remote employees. The top-ranked state is Colorado. Details are at https://www.developersforhire.com/growth-remote-developer-jobs.
• Utah is ranked No. 7 on a list of “States Most Impacted by U.S. Household Debt in 2023,” part of a study published by NationalBusinessCapital.com. Researchers considered six metrics to understand each state’s household debt burden: credit card debt, auto debt, mortgage debt, student loan debt, medical debt and debt-to-income ratio. The most-impacted state is Maryland. The least-impacted is Kentucky. Details are at https://www.prnewswire.com/news-releases/sunbelt-states-drowning-in-debt-while-midwest-keeps-its-head-above-water-301958496.html.
• Utah is ranked No. 14 on a list of “Worst States for Healthcare,” compiled by Forbes Advisor. It compared all 50 states across 24 metrics to uncover the worst states for healthcare, including healthcare access, healthcare outcomes, healthcare cost and quality of hospital care. Utah has 9.75 primary care physicians available per 10,000 residents, and a $1,730 average annual premium for employees with single coverage through employer-provided health insurance. The worst state overall is Georgia. The best state is Minnesota. Details are at https://www.forbes.com/advisor/health-insurance/best-worst-states-for-healthcare/.
• Utah households waste an average of $854 worth of food each year because it has gone past its expiration date, according to a study by communications agency Cherry Digital. It surveyed people nationwide to determine how much food was thrown away this past year. The U.S. average is $907. South Carolina is the most wasteful state in the U.S., at $1,304.68. West Virginia is the least-wasteful, at $404.90.
• Fishlake National Forest has been voted as Utah’s top “Hidden Gem” to see fall foliage, based on a survey by photo book company Mixbook. It compiled a list of the top 150 “under the radar” destinations for fall foliage in the U.S. The top-ranked location is Sterling Forest State Park in New York. Fishlake National Forest is No. 53. Other Utah locations on the list are No. 119 Ogden Valley and No. 140 Nebo Loop Scenic Byway. Details are at https://www.mixbook.com/inspiration/fall-foliage-americas-hidden-gems.

EDUCATION/TRAINING

• Dr. Cameron Martin recently was installed as the new president of Rocky Mountain University of Health Professions. He is the university’s second president. Martin previously was vice president of operations and chief of staff for the Office of the President. Before that, he was the vice president of university relations at Utah Valley University and worked for the Utah System of Higher Education as an associate commissioner for economic development and planning. Martin’s education includes a bachelor’s in political science, a master’s in public administration, and a Ph.D. in educational leadership, all from Brigham Young University. Provo-based RMU is a graduate healthcare education institution founded in 1998. It offers master’s and doctoral degree programs in various healthcare specialties. Programs are offered through a blend of flexible online, hybrid and on-campus residential programs.
• Reading Horizons, a Kaysville-based company offering a method for teaching foundational literacy, has appointed Kristi Knight as chief marketing officer. she will be responsible for leading the outreach and marketing for the company’s tech-enabled literacy teaching and learning programs and initiatives. Knight most recently served as chief marketing officer for InMoment. Her career also includes executive marketing roles with Vivint and Omniture (now Adobe). Knight is a graduate of Westminster College.
• Domo, an American Fork-based company offering a data platform for businesses, has unveiled the “Domo for Higher Education” initiative. It is designed to equip students with data and analytics skills that can enhance their employability upon entering the job market. It offers educators access to a curriculum in data and analytics, seamlessly integrated into their learning management systems. The curriculum encompasses an array of resources, including written instructions, practical labs, quizzes, examinations and external materials.

EXPANSIONS

• Ken Garff Automotive Group, a Salt Lake City-based auto retailer, has acquired Steve Thomas BMW of Camarillo, California, and named Matthew Kelleher as general manager. Financial terms were not disclosed. Pinnacle Mergers and Acquisitions’ Mike Sims facilitated the sale of the dealership. Garff Enterprises, the parent company of Ken Garff Automotive Group, employs over 5,000 people across 65 dealerships in eight states.

FINANCE

• MX Technologies Inc., a Lehi-based open finance company, has named Jane Barratt as chief advocacy officer and head of global public policy. She will oversee the company’s advocacy and global public policy efforts. Barratt has more than 25 years of experience working with financial institutions, technology and Fortune 500 companies, policymakers and regulators. She most recently was chief commercial officer of financial institutions at MX. Prior to joining MX, Barratt was the CEO of GoldBean. She also spent more than two decades driving growth for Fortune 500 companies in financial services, fintech and technology. Barratt is a long-time investor and champion for financial strength and has helped thousands of people improve their financial skills through online video courses.

GOVERNMENT

• Salt Lake County has announced a move designed to improve safety and traffic flow in the Cottonwood Canyons. An ordinance related to parking prohibitions in certain areas was passed by the County Council and will take effect Nov. 1. The county said the previous parking restriction system has contributed to traffic congestion and has put canyon visitors, snowplow drivers and officers patrolling the canyons at risk during peak travel days. The changes include violations resulting in a civil penalty, violating vehicle’s owners being responsible for the parking violation, and an increase in fines ranging from $75 to $150. The county said the ordinance does not expand current “no parking areas,” but merely enhances the ability to enforce existing “no parking areas” with a stronger penalty and an improved process. The revised ordinance is the result of a collaboration between Salt Lake County, the Utah Department of Transportation and the Unified Police Department.

INVESTMENTS

• Kinect Capital, a Salt Lake City-based nonprofit dedicated to empowering entrepreneurs in raising investment capital, has appointed James Kemp as executive director. Tara Spalding is continuing as the interim CEO for the near term. Kemp previously was the managing partner of a consulting firm. Most recently, he served as the chief of staff and worldwide business operations leader for Adobe Digital Experience. Kinect Capital also recently announced four additions to its board of trustees. Jolene Anderson is managing director for VectorPoint Ventures LLC, where she advises seed and early-stage companies in various industries, including life sciences, clean tech, and digital health. Her background includes being an entrepreneur, angel investor, investor relations expert and mentor for women- and minority-led companies. Cheryle Caplinger is executive director of strategic partnerships and Innovation District project manager at Utah Tech University. Caplinger has over two decades of experience in establishing and managing high-level, mutually beneficial collaborations. Marc Rasich is a shareholder at Greenberg Traurig LLP. He has more than two decades of experience assisting technology companies with their corporate governance, intellectual property and business disputes. Nick Singleton is the vice president of Aim Ventura Capital, a growth equity fund specializing in minority investments in lower-market revenue-generating companies. He also oversees Old Main Ventures, a student-run venture capital fund based at Utah State University.
• RevRoad Capital, a Provo-based seed-stage venture fund, has announced today a $61 million final close of its first fund. It said that of all debut early-stage venture funds that launched in the U.S. in 2022, RevRoad Capital closed the largest fund between the coasts and counts 30 percent of its LPs as women investors.
• BankTech Ventures, a Sandy-based investment fund focused on enhancing community banks, announced that it invested a total of $13.5 million in six fintech companies in the second half of 2023. BankTech has invested over $40 million in companies that have been specifically selected due to their work with community banks. These new investments are focused on helping community banks in areas of revenue, deposit growth, security, compliance, data analysis and customer marketing. The investments include $2.5 million in Vero Technologies’ Series A round, $2 million in Finosec’s SAFE round, $2 million in Micronotes’ Series C round, $1 million in Equabli’s SAFE round, $1 million in Revio’s Series A round, and $5 million in BillGo’s Series B round.
• Voze, a Sandy-based company focused on field sales software, has secured a $3 million seek found of financing. It was led by Album VC and included Pipeline Capital Partners. Voze said it will use the funds to expand into existing industrial markets, expand its reach to more industrial sectors, refine its AI capabilities and forge new industry-specific integrations to streamlining the sales process even more.
• PDQ, a South Salt Lake-based provider of IT asset management software, has announced a growth investment from Berkshire Partners. Financial terms were not disclosed. William Blair acted as exclusive financial advisor to PDQ, and Guggenheim Securities served as a financial advisor to Berkshire Partners. Kirkland & Ellis provided legal counsel to TA, and Ropes & Gray provided legal counsel to Berkshire Partners.

IPO

• Waystar Technologies Inc., a provider of leading healthcare payment technology and with a major office in Lehi, has announced that its parent company, Waystar Holding Corp., has publicly filed a registration statement with the U.S. Securities and Exchange Commission relating to the proposed initial public offering of the parent company’s common stock. The number of shares to be offered and the price range for the proposed offering have not yet been determined. Waystar Holding Corp. intends to list its stock on the Nasdaq Global Select Market under the symbol “WAY.” J.P. Morgan Securities LLC, Goldman Sachs & Co. LLC and Barclays Capital Inc. are acting as book-running managers for the proposed offering.

LOGISTICS

• The Utah Inland Port Authority board will consider a pair of Tooele County locations as the state’s newest inland port areas at its December meeting. Consideration of approval of the locations originally had been scheduled for the board’s Nov. 6 meeting. The areas are the Grantsville project area, consisting of 1,835 acres entirely in Grantsville City, and the 162-acre Tooele Valley project area.

OUTDOOR RECREATION

• The Redevelopment Agency of Salt Lake City and Seven Canyons Trust recently hosted an event focused on Folsom Trail (25 S. 1000 West) to celebrate the completion of the City Creek at Folsom Trail Daylighting Design Plan and new trailside mural. Among the activities, attendees were invited to take photos in front of the expansive mural; meet its artists; review the City Creek at Folsom Trail Daylighting Design Plan to bring now-buried sections of City Creek up to the surface (a process known as “daylighting”); and learn about stream restoration from Seven Canyons Trust, a nonprofit group. The design plan, a community-based vision for the City Creek channel and additional improvements along the Folsom Trail between approximately 700 and 1000 West, was developed by Seven Canyons Trust, CRSA, BIO-WEST and Avenue Consultants with resident input through surveying, visual preference and design feedback.

NONPROFITS

• Warrior Rising, a veteran entrepreneur nonprofit, will have its final “business shower” of 2023 on Nov. 11, 5-10 p.m. The event will include veteran entrepreneurs from across the nation showcasing their business ideas to industry experts for a chance to receive a sizable financial grant. The guest speaker is David Goggins, Navy SEAL and best-selling author. The title sponsor is Black Rifle Coffee Co., which is donating $250,000 to fuel the next generation of veteran entrepreneurs. Location is Hyatt Regency Salt Lake City, 170 S. West Temple, Salt Lake City. Individual tickets are $500. Details are at warriorrising.org under the “Events” tab in the menu bar.

PHILANTHROPY

• Bank of Utah, Arctic Circle and Red Hanger recently launched its annual clothing drive called “Warm Bodies, Warm Souls.” The joint venture for the three Utah-born companies has been in place for over 10 years. It will run to Nov. 10. Together, the three businesses have regularly donated hundreds of bags of warm clothing to charitable groups statewide. People wishing to participate in the clothing drive can make donations to their nearest Bank of Utah, Arctic Circle or Red Hanger location. In exchange, donors will receive a coupon for a free double cheeseburger from Arctic Circle or a free shirt cleaning at Red Hanger. Last year, clothing was given to local food pantries, Catholic Community Services, The Road Home and United Way locations across the state, among other groups.

RECOGNITIONS

• Dwellify, a Salt Lake City-based home remodeling company, has been named a winner in Good Housekeeping’s 2023 Home Renovation Awards in the Handy Home Services category.
• Select Health, a Salt Lake City-based health plan company, has announced that, for the third consecutive year, Select Health Medicare HMO plans have earned a five out of five overall Star Rating from the Centers for Medicare and Medicaid Services. The rating is the highest possible score. CMS evaluates the quality and value of certified health plans through an assessment that includes criteria such as clinical outcomes, preventive care, member experience and satisfaction, pharmacy services, wellness programs and plan responsiveness, to determine the ratings. In addition to evaluating a plan’s services and programs, CMS sends annual surveys to health plan members to gather feedback.
• The Master of Business Creation program at the University of Utah’s David Eccles School of Business has won the award for “Excellence in Entrepreneurship Teaching and Pedagogical Innovation” from the Global Consortium of Entrepreneurship Centers. The award honors a center that has developed a significant original innovation in entrepreneurship pedagogy. Selection criteria included differentiation from existing programs, measurable learning outcomes, student engagement and stakeholder support. The MBC program is offered in partnership between the Department of Entrepreneurship & Strategy and the Lassonde Entrepreneur Institute at the Eccles School. The Global Consortium is headquartered at the Rice Alliance for Technology and Entrepreneurship in Rice University’s Jones Graduate School of Business.

RECREATION

• The Picklr, a Kaysville-based indoor pickleball company, has announced plans for 30 new locations across four states and the District of Columbia, bringing the total franchise number to 110. The facilities will be coming to North Carolina; South Carolina; Tennessee; Virginia; and Washington, D.C. By the end of 2023, the company will have seven facilities open, five under construction, and 10 new leases signed.

RETAIL

• Moosejaw, a retailer specializing in outdoor gear and apparel, has opened a retail store at 470 S. 900 E., Salt Lake City. The 8,200-square-foot store is the company’s first Utah location. A portion of the Moosejaw brand sales during opening weekend were donated to Trails Foundation of Northern Utah, which promotes, preserves and protects public pathways and trails throughout Northern Utah. Moosejaw also has stores in Michigan, Illinois, Colorado, Kansas, Arkansas and Missouri.

TRAVEL

• Christopherson Business Travel, Salt Lake City, has hired Jared Conley as vice president of marketing. Conley’s skill set centers on marketing strategy, demand generation, digital marketing, marketing analytics, and an ability to drive rapid revenue growth. He has experience in both B2B and B2C marketing.