Industry Briefs 11-20-23

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 November meeting, approved cash rebate incentives for three film productions shooting in Utah. Princess for a Day LLC was approved for a rebate of up to $21,500 for its production of “Princess for a Day,” a family feature. It is expected to spend about $215,000 in the state and involve 31 cast, 36 crew and 100 extras. Principal photography took place in October and November. The director is Dustin Ward, who is a producer along with Brett Burrows. The film tells the story of a widower helping his 5-year-old daughter by offering to hire a small-town girl to dress up like a cartoon princess for his daughter’s birthday party. Mainstay Productions LLC was approved for a rebate of up to $14,000 for “Love Swap,” a family feature. It is expected to spend $140,000 in Utah, including during principal photography scheduled through Nov. 29. It is expected to have 15 cast, 12 crew and 50 extras. The director and producer is John Lyde. “Love Swap” focuses on a couple on the brink of divorce but who discover they have switched bodies and thereby gain a new sense of understanding and find themselves falling in love again. Scryer Productions LLC was approved for a rebate of up to $10,000 for “By His Hand,” a feature thriller. Expected to spend $100,000 in Utah, the production will employ 12 cast, 17 crew and 10 extras. Principal photography took place this month. The director is Taylor Paur, who also is a producer along with Ethan Paur. “By His Hand” tells the story of a couple who are chased by a man after they escape a religious commune.
• “The Peaks,” am outdoor sculpture by artist Gordon Huether, has been unveiled at Salt Lake City International Airport. Inspired by by the Wasatch Mountains, it pays tribute to Utah’s five Native American tribes (part of the state’s eight sovereign nations) and the five elements of the natural world: air, earth, fire, space and water. The Peaks is made of weathering steel with the tallest structure standing 90 feet high. A glass orb at the top of the tallest peak pinpoints the location of Utah on the globe.
• The nonprofit Sundance Institute and The Walt Disney Studios have established the Project Advancement and Completion Fund, an initiative designed to provide grants to fiction directors from traditionally underrepresented backgrounds. This fund aims to empower and uplift filmmakers from diverse backgrounds and genres, fostering a more inclusive cinema landscape. The fund will nine directors currently engaged in fiction features through Sundance Institute’s artist programs. Each selected director will receive a $25,000 unrestricted grant and will benefit from a customized continuum of support, ensuring they have access to the necessary resources, mentorship and industry connections to navigate the filmmaking process successfully. The initial cohort consists of Ramzi Bashour, a Syrian-American filmmaker based in New York; Dania Bdeir, a Lebanese-Canadian filmmaker; Caledonia Curry, a contemporary artist and filmmaker; Rashad Frett, a Caribbean-American filmmaker based in New York City; Masami Kawai, an L.A.-born filmmaker of Ryukyuan descent; Walter Thompson-Hernandez, a writer-director from southeast Los Angeles; Sean Wang, a filmmaker from Fremont, California; Keisha Witherspoon, a Miami-born writer/director; and Yuan Yuan, a writer-director.

COMMUNICATIONS

• Beacon Communications, a Colorado-based company focused on communication solutions for hospitals, schools, private and government enterprise, has opened an office in West Valley City. It will serve as a home base for Beacon employees to provide support to one of its long-standing customers expanding into Utah. Beacon services 11 states, dispatching from nine office locations throughout the central and western United States.

CONTESTS

• The Utah Advanced Materials and Manufacturing Initiative is accepting nominations until Jan. 31 for its Utah Women Leading Our Advanced Materials and Advanced Manufacturing Industry and Men Allies advocating for women honors. The latter award will recognizes the important role enlightened men are playing in the careers of women in advanced manufacturing. Details are available at (801) 871-8148.

COWORKING

• The Shop Workspace, a coworking space in downtown Salt Lake City, has announced that the University of Utah Center for Medical Innovation is its newest anchor tenant. The new downtown lab space will make it possible for CMI to host groups from across the industry to advance new medical technologies, it said. CMI’s new space includes nearly 2,600 square feet dedicated to prototyping and engineering resources, including 3D printing, precision machining and microelectronics assembly. The lab space will also offer shared workbenches and power tools for students and community members to use for ongoing projects.

DIVIDENDS

• The board of directors of Medallion Bank, Salt Lake City, has declared a quarterly cash dividend of 50 cents per share on the bank’s fixed-to-floating rate non-cumulative perpetual preferred stock, Series F. The dividend is payable Jan. 2 to holders of record Dec. 15. Medallion provides consumer loans for the purchase of recreational vehicles, boats, and home improvements, along with loan origination services to fintech strategic partners,
• The board of directors of Clarus Corp., based in Salt Lake City, has confirmed a regular quarterly cash dividend of 2.5 cents per share. The dividend is payable Nov. 24 to stockholders of record Nov. 14. Clarus designs, develops, manufactures and distributes outdoor equipment and lifestyle products. Its brands include Black Diamond, Rhino-Rack, MAXTRAX, Sierra and Barnes.

ECONOMIC INDICATORS

• The average Salt Lake City household pays $2,043 per month, or $24,513 per year, for the 10 most common household bills, according to a study by Doxo. That makes Salt Lake City the No. 24 most expensive city in Utah. The cost of living in Salt Lake City is 0.2 percent lower than the national average of $2,046, and 2.6 percent lower than the state average of $2,097. Salt Lake City households spend 35 percent of their income on household bills. Salt Lakers spend $1,560 per month, on average, on mortgages; $1,198 on rent; $503 on auto loans; $274 on utilities; $106 on health insurance; $143 on auto insurance; $98 on cable and Internet; $116 on mobile service; $86 on alarm and security service; and $82 on life insurance. The most expensive state is Hawaii, at $3,070 per month. The least expensive is West Virginia, at $1,530. Details are at https://www.cnbc.com/2023/08/02/doxo-most-least-expensive-states-based-household-bills.html.
• Three Utah locations are on a list of “America’s top 150 Underrated Winter Vacation Destinations,” based on a poll compiled by FamilyDestinationGuides.com. Midway is No. 42, Kanab is No. 49 and Springdale is No. 125. The top-ranked location is Buffalo, Wyoming. Details are at https://familydestinationsguide.com/americas-favorite-underrated-winter-destinations/.
• Utah County leads Utah counties on a list of “Most Landslide-Vulnerable Counties,” compiled by Gutter Gnome. Utah County is No. 47 on the list. It compared over 740 counties nationwide with moderate to very high landslide risk based on three categories. It considered landslide triggers (like earthquake risk, historical precipitation levels and deforestation) as well as expected annual financial loss from landslides. Others in the top 100 nationally are No. 69 Washington County, No. 94 Weber County and No. 95 Salt Lake County. The top-ranked location nationally is Douglas County, Oregon. The No. 743 location is Allamakee County, Iowa.

EDUCATION/TRAINING

• Weber State University has named Benjamin Garcia as executive director of the Miller Advanced Research & Solutions Center. Garcia’s background is in research and development of advanced composite materials used for aircraft, missiles and rockets. He spent the past eight years with Northrop Grumman, where he managed a team of scientists and engineers in high-temperature composites. Opened in August 2022, the MARS Center is a location where WSU faculty, staff and students collaborate to find high-tech solutions to challenges faced by the Department of Defense, Department of Energy and others.
• Utah Valley University and Mountainland Technical College have signed an agreement that creates a seamless pathway for MTech graduates in HVAC, electrical, plumbing and welding to earn an associate degree in business management at UVU in half the time. The agreement gives Mtech graduates in the four areas 28 UVU credit hours toward a two-year business degree. The program is available to students who graduated from MTech in 2023 or later. The UVU program will be available both in-person and online, providing flexibility for students to choose the learning format that best suits their needs. UVU has 16 articulation agreements with MTech, including pathways for the Associate in Applied Science degree in technology and the Associate in Science in Nursing degree.
• The Mill at Salt Lake Community College is seeking participants in its Everyday Entrepreneur Program. The 10-week program starts Jan. 16, 4-6 p.m. The course teaches entrepreneurs to identify and validate a business opportunity, mitigate costly errors, then build a solid “go-to-market” strategy to successfully launch the business. The cost is $600. Details are at https://themillatslcc.com/education/everyday-entrepreneur-program/.

ENVIRONMENT

• Salt Lake City recently was selected to receive a $2.2 million grant from the Great Salt Lake Watershed Enhancement Trust for a project to preserve and restore wetlands and habitat on the south shore of the lake. The funding will assist in the acquisition of undeveloped land next to Great Salt Lake wetlands, as well as the implementation of a long-term management plan for improvements to the ecology and flow of water from the property to the Great Salt Lake. The idea for the city’s project was brought forward by community members, advocates and scientists who helped champion this important work, including The Audubon Society’s Gillmor Sanctuary, Friends of the Great Salt Lake, Jordan River Commission, Utah Waterfowl Association, with support of groups such as the Westside Coalition. The grant application was spearheaded by Salt Lake City’s Department of Public Utilities.

EVENTS

• World Trade Center Utah is accepting applications until Dec. 1 for Utah natural-brand companies to share booth space March 12-16 at the Natural Products Expo West event in Anaheim, California. The Utah booth is sponsored by World Trade Center Utah in partnership with the Governor’s Office of Economic Opportunity. The cost is $500 to secure a spot in the booth. The event typically attracts more than 85,000 attendees and more than 3,500 exhibitors. Details are available by contacting Charlotte Serage, manager of international programs at WTC Utah, at cserage@wtcutah.com.

HEALTHCARE

• Graphium Health, a Draper-based company focused on specialty healthcare technology solutions, has appointed Frits Hoffman as vice president of sales. Hoffman has experience in health IT sales and healthcare technology. His experience includes serving as vice president of sales at Healthland, regional sales manager at Lawson Software, and vice president of sales at Health Catalyst.

HOSPITALITY

• Hyatt Hotels Corp. and Extell Development Co. have announced a planned expansion of the Grand Hyatt brand in Park City. Expected to open late 2024, Grand Hyatt Deer Valley will mark the debut of the Grand Hyatt brand in Utah and will be located at the Deer Valley Resort. It will open as the first luxury hotel within Deer Valley Resort’s forthcoming expansion. Grand Hyatt Deer Valley will offer 387 guestrooms, inclusive of 40 suites, 55 private residences and 38,900 square feet of indoor event space, including a 10,000 square foot grand ballroom. It also will include dining options, an outdoor event terrace, a heated year-round pool and whirlpool, fitness center, and more. The portfolio of Hyatt Hotels Corp., based in Chicago, includes more than 1,300 hotels and all-inclusive properties in 76 countries across six continents.

INVESTMENTS

• Montage Partners, an Arizona-based private equity firm, has opened an office in Salt Lake City. It is the second location for the firm. Chris Norwood, vice president, relocated to Salt Lake City last year and will lead the new office in growing the firm’s investment portfolio. The first new hire for the office is Hayden Gehring, who joined the firm as an associate in September. He is responsible for financial modeling, due diligence, industry research, and screening new investment opportunities. Before joining Montage Partners, Hayden was an analyst in the investment banking group at Bank of America in its Charlotte office, where he focused on leveraged buyouts and other sponsor-backed transactions across a variety of industries. Founded in 2004, Montage Partners has invested in 19 companies. It invests in companies headquartered in the U.S. or Canada with $1.5 million to $7 million in EBITDA across the business services, consumer, healthcare, industrial and technology sectors.

MANUFACTURING

• Twenty-one Utah companies will receive a total of $10 million in funding from the Manufacturing Modernization Grant program, administered by the Governor’s Office of Economic Opportunity. The program incentivizes Utah businesses to modernize, establish, relocate, retain or develop manufacturing in the state. To qualify for the grant, the manufacturing modernization project must be located in Utah, and the company must have contributed to the project’s cost. Companies also must have fewer than 250 full-time employees. A total of 185 companies applied for funding, seeking over $100 million. Grant recipients are Advanced Composites Inc., HiFunda, SB Manufacturers dba Proline Tools LLC, Stadler Rail and Teal Drones Inc., all in Salt Lake County; Automail Industries dba Automail Fabrication, Carbon County; ElectraFly, Mountain West Stairlifts LLC and Spring Works Utah, all in Davis County; HyPerCamp Engineering Inc., Box Elder County; Care Weather Technologies Inc., IsoTruss Industries LLC, Lakeshore Plastics LLC and Lion Energy LLC, all of Utah County; Conducive Group LLC, Wasatch County; Fierce Firearms and Western Clay, both of Sevier County; Future Group LLC, Sanpete County; IME Automation and Vitalpax Inc., both of Washington County; and Thermal Management Technologies, Cache County.

MARKETING

• RainFocus, a Lehi-based provider of a next-generation marketing platform, has promoted Ashleigh Cook to chief marketing officer. She will continue to strengthen and expand the role of events in driving marketing success, as well as accelerate RainFocus’ growth with its partners and clients. Cook previously was senior vice president of marketing. Before joining RainFocus, Cook served as vice president of campaigns and demand at Forrester and orchestrated demand generation efforts and played a role in establishing and scaling the company’s marketing function at SiriusDecisions. Cook lives in Connecticut.

PHILANTHROPY

• Rio Tinto Kennecott has donated $10 million to the Museum of Utah, being built on the Utah State Capitol Complex. The Rio Tinto Kennecott donation will be distributed over the next 10 years. The museum is scheduled to open in 2026 under the umbrella of the Utah Historical Society. The museum will be free and open to the public year-round and feature more than 17,000 square feet of exhibition space and over 400 objects on display.
• Hyundai and Salt Lake City Hyundai dealers recently raised $70,000 in support of Intermountain Primary Children’s Hospital through the KSL “Give-A-Thon.” The donation comes as an addition to the $100,000 pediatric cancer research grant awarded to Primary Children’s Hospital in September from Hyundai Hope On Wheels, Hyundai’s nonprofit organization dedicated to ending childhood cancer. KSL NewsRadio and TV stations, along with several others, teamed up to raise awareness and critical funds for Primary Children’s Hospital in Salt Lake City. All proceeds raised from the Give-A-Thon go directly toward programming at the hospital.

RECOGNITIONS

• The University of Utah’s David Eccles School of Businessis ranked No. 2 for undergraduate and No. 3 for graduate entrepreneurship education in the West in new rankings from the Princeton Reviewfor 2024. The undergraduate program was No. 23 overall. The graduate program was No. 14 overall. The entrepreneurship programs at the Eccles School are provided in partnership between the Department of Entrepreneurship & Strategy and the Lassonde Entrepreneur Institute. The Princeton Review lists name the top 50 undergraduate and top 50 graduate schools for entrepreneurship studies for 2024, and the highest schools within seven regions. The rankings are based on a summer 2023 survey conducted of about 300 schools with entrepreneurship offerings. The rankings were determined by considering data about the school programs, faculties, students and alumni.
• The Human Rights Campaign, a civil rights organization working to achieve equality for lesbian, gay, bisexual, transgender and queer people, and Showtime have announced Southern Utah Drag Stars of Hurricane as a recipient of “Queer to Stay: An LGBTQ+ Business Preservation Initiative.” “Queer to Stay” support and uplifts small businesses that focus on LGBTQ+ people of color, women and the transgender community, ensuring that LGBTQ+ businesses can keep their doors open and serve their communities. This year, HRC and Showtime are supporting 25 businesses in 19 states. Southern Utah Drag Stars supports the local LGBTQ+ community and helps promote inclusive safe spaces in the local area by connecting drag performers with shows, story hours and more. It works to deconstruct misconceptions, increase visibility, uplift performers with intersectional identities and build joy and connection for the LGBTQ+ community.

RECREATION

• The Picklr, a Kaysville-based company focused on indoor pickleball facilities, has made some leadership changes. Jonathan C. Fornaci has been named chief operating officer. James Hurlock is the new chief brand officer. Scott Schubiger is chief growth officer. Josh Shelby is chief financial officer. Kathryn Bullough is senior vice president of marketing. Fornaci most recently was president and chief operating/financial officer of Tru Fusion. He has served on executive teams of private equity and venture capital-funded companies, including as the chief operating officer of Punchh, which sold to PAR, and president and CEO of Rita’s Franchise Corp. and Straw Hat Pizza. Hurlock most recently was chief partnerships officer at F45 Training. Schubiger worked with companies such as Cisco Systems and Hewlett-Packard, while also venturing into technology startups. Shelby has over 30 years of financial expertise, including analyzing corporate IPO and M&A transactions at Bear, Stearns & Co. and Northport Investments. In 2022, he joined RLK-PLG Investment Management (dba Ascension Financial). Bullough most recently worked at Axon. Before that, she led global brand marketing efforts at Skullcandy, developing and implementing brand marketing efforts across the globe for more than seven years.
• The American Jump Rope national championship will take place June 25-29, 2024, at the Zions Bank Training Center. Hosted by the American Jump Rope Federation, this summer’s event will be jump rope’s first national tournament in Utah. With approximately 1,900 expected attendees, this event is estimated to have more than $1.2 million in direct visitor spending. Competitive jump rope has two primary disciplines: single rope and double dutch. Within each discipline are a variety of competitive events that test athletes’ agility, creativity and teamwork.

RETAIL

• Metal Supermarkets, a supplier of small-quantity metals, has opened a location at 1275 W. 1450 S., No. 2, Ogden. The second location in Utah offers 8,000 types, shapes and grades of metal, cut to each customer’s exact specifications. Metal Supermarkets Ogden is owned and operated by Jim Issertell and Andrea Hellewell, who have each spent over 20 years working in large organizations in the fields of defense, aerospace and transportation. Issertell also has held leadership positions in project management, scheduling and cyber security. Hellewell has engaged with senior leaders across a variety of organizations to inspire effective communication and positive employee engagement. Metal Supermarkets has more than 120 brick-and-mortar stores across the United States, Canada and the United Kingdom, with 13 franchise locations in development.