Industry Briefs - 5-27-24

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ECONOMIC INDICATORS

• Utah is ranked No. 4 among states with remote workers, according to a study by web hosting provider Hostinger. It analyzed data from the US Census Bureau on the number of citizens in each state who reported that they worked from home for at least one day in seven days between Jan. 9 and Feb. 5 of this year. Utah had 37.3 percent of the working population having worked remotely during the seven days. That equates to 924,000 people. Out of those who worked remotely, 48.2 percent did so for five or more days, and 33.3 percent worked from home for just one or two days. The highest overall percentage is in Maryland, at 44.2 percent. The lowest is in Mississippi, at 11.38 percent.
• Utah is ranked No. 14 on a list of states where mortgage debt increased from 2022 to 2023, according to a study by GOBankingRates. Utah saw its average debt rise 4.36 percent, from $281,947 in 2022 to $294,227 in 2023. The highest increase was 6.81 percent in Tennessee. The highest average debt in 2023 was in California, at $432,456. The least was in West Virginia, at $129,889. The highest typical home values in 2024 are in Hawaii, at $994,380. Details are at https://www.gobankingrates.com/money/wealth/fastest-ways-to-become-rich-according-to-experts/.
• Three Utah locations are on a list of “favorite spots for night owls,” compiled by photobook company Mixbook. They are No. 17 9th & 9th in Salt Lake City; No. 75 Downtown Park City and No. 125 Sugar House in Salt Lake City. The top location overall is downtown Las Vegas. Details are at https://www.mixbook.com/inspiration/americas-150-top-twilight-towns-for-night-owls.
• Salt Lake City is ranked No. 99 and West Valley City is No. 211 on a list of “most attractive city to move to for a new relationship,” compiled by DatingAdvice.com. It surveyed people about whether a city in which their partner resides is a factor when deciding whether to move. The top city people would move to for love is San Francisco. Details are at https://www.datingadvice.com/studies/love-migration-survey.
• St. George is the least-at-risk city for bed bug infestations in the U.S., according to a study by Pest Gnome. It compared the 500 biggest U.S. cities on criteria including the number of accommodations, multi-unit residential buildings, population density and access to exterminators. Among the most at-risk cities, Salt Lake City is ranked No. 88. The most-at-risk city is New York City. Details are at https://pestgnome.com/blog/studies/worst-cities-bed-bugs/.

EDUCATION/TRAINING

• The U.S. Small Business Administration has awarded funding to three organizations to provide the SBA’s Women Veteran Entrerpeneurship Training Program to local veterans. One is the Utah Veteran Business Resource Center at Salt Lake Community College, which will receive $75,000 for Startup Training Resources to Inspire Veteran Entrepreneurship. STRIVE is a 10-week build-your-business course tailored to the unique choices women need to make to navigate biases and other situations they face in business. The STRIVE program is provided in partnership with Syracuse University’s D’Aniello Institute for Veterans and Military Families, the National Association of Community College Educators and the VBRC. Support from SBA’s WVETP will allow 220 women veterans to participate in the program.

ENERGY

• Torus, a company focused on sustainable energy storage solutions for both the residential and commercial markets, has had the grand opening for its new 44,000-square-foot headquarters and manufacturing facility at 855 W. 2400 S., South Salt Lake. The manufacturing facility is the demonstration site for the company’s machining and production technologies, commercial solutions in flywheel and battery energy storage, the Torus app for energy management, residential energy systems, and an EV charging station showcase.
• Ionic Mineral Technologies, a Vineyard-based company focused on nano-silicon battery anode technology, has announced an expansion of its production facility in Provo. The expansion will include 37,000 square feet of advanced manufacturing facilities, 7,000 square feet of Class 1 office space, and 5,000 square feet of research and development laboratories, bringing Ionic MT’s total facility footprint to over 74,000 square feet. It is scheduled for completion by September.

ENVIRONMENT

• Simplified Environmental Solutions, a Missouri-based landfill material processing and management company, has opened a full-service location at 884 W. 2nd St., Building 9A, Bay 3, Ogden. The company said the location is built to support the increasing demand from global consumer goods producers and other manufacturers looking to implement sustainability programs with zero waste to landfill benchmarks. The location’s services include non-hazardous secondary material processing, recycling, reuse of raw material waste and scrap, controlled disposal of finished goods, food waste reuse and compost, and on-site waste and recycling consultation.

FRANCHISING

• Five Star Franchising, based in Springville, has named Missy Wright as vice president of franchise development. She will help lead expansion efforts for two Five Star brands, Mosquito Shield and Gotcha Covered. Wright has 10 years of franchise development management and leadership experience. Roles have included growing brands, developing relationships with franchisees, building franchise portfolios and building out franchise systems.

INDOOR RECREATION

• The Picklr, a Kaysville-based indoor pickleball franchise company, plans to open three additional locations in Utah over the next six months. Each of the new clubs will feature at least eight indoor courts, a pro shop, private event space, unlimited league play, tournaments and open play. One will be at 1180 Brickyard Road, Salt Lake City. The 25,000-square-foot facility with eight indoor courts is set to open by early fall. A location at 1246 N. 2000 W., Farr West, will have nine indoor courts in a 22,000-square-foot facility set to open by late fall. Plans for a Utah County facility are still being defined, but it is expected to open by late fall. The company currently has six locations in Utah.

INSURANCE

• Altura Benefits, a Salt Lake City-based benefits brokerage, has hired Aundrea Brinkman as operations manager and Spencer Montoya as a Medicare specialist. Brinkman will spearhead the management of the benefits team, implement standardized processes, and cultivate a supportive culture of responsibility and success. She has nearly two decades of experience at Opticare Vision Services and Standard Optical. Montoya is tasked with supporting eligible individuals with Medicare, which includes providing assistance with Medicare Advantage and Medigap plans.

INVESTMENT

• PACS Group Inc., a Farmington-based holding company investing in post-acute healthcare facilities, professionals and ancillary services, has appointed Evelyn Dilsaver to serve as a member of its board of directors. She is an independent director. Her appointment makes the PACS board majority independent. Her committee appointments will be considered at a later date. Dilsaver was president and CEO of Charles Schwab Investment Management from July 2004 until September 2007. Prior to that, she held various senior management positions with The Charles Schwab Corp. She also serves on the boards of directors of Tempur Sealy International, HealthEquity Inc. and QuidelOrtho.

MANUFACTURING

• Merit Medical Systems Inc., a South Jordan-based company focused on disposable medical devices, has announced that its shareholders have elected Silvia M. Perez as a director and re-elected Fred P. Lampropoulos and Stephen C. Evans as directors. All will serve three-year terms. Perez is president of the commercial branding and transportation division at 3M Co. She has worked for more than two decades in the healthcare industry, with accomplishments in clinical, regulatory, operations, marketing and business leadership. She joined 3M in 1994 and has held a variety of leadership roles across the organization, both domestic and international. Roles include president of the commercial solutions division and vice president of Acelity Inc.

MINING

• International Battery Metals Ltd.has announced an agreement with US Magnesium LLC for the installation of its first-of-its-kind, patented modular direct lithium extraction plant installed at a brine resource. The mobile facility is co-located at US Mag’s existing operations outside Salt Lake City. IBAT’s plant will process brine produced from lithium-containing waste-magnesium salts. The resulting lithium chloride product will provide feed for high-purity lithium carbonate production by US Mag. IBAT anticipates that full commissioning and startup will be completed within the next three months, with commercial lithium production to follow shortly thereafter. The agreement provides IBAT with royalties from US Mag based on lithium sales, as well as payments for equipment operations based on lithium prices and performance.

NONPROFITS

• The Salvation Army Ogden Corps has broken ground on a new Silvercrest Senior Residence to provide low-income, subsidized housing for seniors 62 years and older. The project, located at 2655 Grant Ave., will consist of 52 one-bedroom apartments. Residents pay only 30 percent of their income for housing, and the U.S. Department of Housing and Urban Development pays the difference. The project site is next to Salvation Army Ogden Corps. The concept is to provide a home for residents where they can have access to social services and ministries.

PARTNERSHIPS

• Real Salt Lake and Utah Royals FC have announced an extension of their partnership with Salt Lake City-based Alsco Uniforms. Alsco provides linen, floor mats, first aid and restroom supplies to America First Field and Zions Bank Training Center. Financial terms were not disclosed. Alsco has more than 200 locations and 16,000 employees.
• Smarty, a Provo-based provider of address data solutions, has announced a service partnership with Uber Technologies Inc., aimed at providing accurate, real-time address data for the ride-sharing company. Smarty said its address intelligence services will bolster Uber’s address data capabilities across its global operations, encompassing ride-sharing, meal delivery and local courier services.

PHILANTHROPY

• Ken Garff Automotive Group recently held a three-day “Drive Out Hunger” project throughout the company in eight states. In Salt Lake, 1,000 meals were bought, prepared and donated by employees of several company locations. Utah County contributed 630 meals and Riverdale added 270 meals.
• The Labcorp Charitable Foundation, the charitable arm of North Carolina-based Labcorp, has donated $11,500 to Needs Beyond Medicine, a Salt Lake City-based nonprofit organization that has a working relationship with all hospitals, cancer centers and clinics in Utah. The contribution will directly benefit the Needs Beyond Medicine’s Relief Program, which provides crucial financial support for non-medical expenses to individuals undergoing cancer treatment. The program offers assistance with expenses such as transportation to and from treatment centers, utility bills, rent and other essential needs.
• LaunchPod Media, a Provo-based company offering podcast services, has opened five podcast studios in Salt Lake City, Lehi and Provo, that are available free of charge to businesses. The initiative aims to empower aspiring podcasters and elevate the podcasting landscape in Utah by providing accessible resources and professional recording facilities. LPM is partnering with Silicon Slopes, a nonprofit organization dedicated to promoting Utah’s tech industry, and Kiln, which offers collaborative workspace.

REAL ESTATE

• Myriad Genetics Inc., a Salt Lake City-based genetics testing company, will have a 62,737-square-foot lease expansion at Airport Technology Park in the city. The expansion follows Myriad Genetics’ 234,144-square-foot lease at Airport Technology Park in 2023. The space serves as the company’s laboratory and support center. Myriad Genetics occupies Building D, at 322 N. 2200 West. The landlord is Drawbridge Realty. The expansion announcement was made by CBRE, which arranged the expansion lease. CBRE’s Scott Wilmarth and Nadia Letey represented Myriad Genetics in the lease negotiations, partnering with Joe Romero, Myriad Genetics’ vice president of real estate and facilities.
• Trez Capital, based in Dallas, has closed a loan for Salt Lake City-based Lotus Co. to build the second phase of its newest multifamily development, Republic. It is the seventh project Trez Capital has financed with Lotus, bringing their total to over $100 million in financing to the Salt Lake area. Republic II, at 51 S. 300 E., will occupy 201,109 square feet and feature 132 units that range from studio and one-bedroom floor plans. Amenities include coworking office space, clubhouse, package room, bike storage, theater room, fitness center, game room, pool and hot tub with cabanas, a dog park, an outdoor BBQ and fire pit area along with ground-floor retail, a restaurant and a micro market. The project is expected to be complete by late 2025. The first phase of Republic completed construction in 2023.
• CBRE has hired Trace Hobbs as a capital markets-focused sales agent in its Salt Lake City office. He will work directly with Patrick Bodnar to focus on the local private client apartment market. Hobbs has experience in several facets of commercial real estate, having most recently worked as a sales agent with Marcus & Millichap. He also worked as a field engineer where he directly oversaw and inspected new multifamily developments. Hobbs earned a bachelor’s degree in business administration from the University of Utah.

RESTAURANTS

• The Cheesecake Factory will open its restaurant at University Place in Orem on July 2. It expects to hire nearly 300 people for the location. The company own and operate 335 restaurants throughout the United States and Canada, plus has 34 locations worldwide under licensing agreements.

RETAIL

• Crude Personal Care, a 10-year-old company, has opened its first brick-and-mortar retail store, refillery and facials space at 824 S. 400 W., No. B139, in Artspace Commons. It will offer plant-based serums and refills.

SERVICES

• KPMG LLP, a provider of audit, tax and advisory services, has named Erika Whitmore as office managing partner at its Salt Lake City office. Whitmore succeeds Greg Randall, who is retiring from KPMG after serving as the office managing partner for the past 15 years. Whitmore will be responsible for the strategic direction and growth of KPMG’s Salt Lake City practice and for supporting the career development of nearly 240 local partners and professionals. Whitmore began her career at KPMG in Denver in 1999 after graduating. She was admitted to the partnership in 2016, and most recently, served as KPMG’s Boulder office leader and private enterprise leader for the Colorado market. As an audit partner, Whitmore provides audit services to a wide variety of clients, with a focus on integrated audits, IPOs, due diligence, technical accounting matters, and financial reporting.
• SEV, a company offering laser hair removal, injectables, body contouring and other aesthetic services, plans to open a SEV MedSpa location at 4655 S. 2300 E., Holladay. It is the company’s first Utah location. The med spa will launch with laser hair removal services, and plans to roll out additional services soon after, including injectable procedures and skin and body treatments. Founded in 2010 in California, the company plans to double in size and cross the 50-unit mark by the end of the year.

TECHNOLOGY

• Limble, a Lehi-based provider of software for maintenance professionals, has appointed Brian Germain as chief revenue officer. Germain has over 16 years of experience in technology sales leadership, most recently serving as CRO for Motive. He also has held sales positions at companies including Uber and Google.
• Domo, an American Fork-based company offering a cloud-native data experience platform, has announced that ESPN is using the Domo App Studioto enhance its customer service experience. With the support of Domo Partner RXA@OneMagnify, an applied AI and data science consultancy, ESPN created a custom app that analyzes their customer service survey data at scale aimed at creating better experiences for their fans. Domo App Studio offers a drag-and-drop interface that allows customers to create custom layouts and branding for their app.
• Typeform, a San Francisco-based company offering a form builder and data platform, has promoted Aleks Bass to chief product officer. She previously was vice president of product. In her new role, Bass is responsible for product strategy, development and execution to meet the needs of Typeform’s customer base, which consists of more than 150,000 businesses around the world. Bass has over 18 years of experience in product management, marketing and consumer insights at companies including SurveyMonkey, Adobe, Workfront and Qualtrics. She also has advised startups that have seen notable success, including acquisitions by Google and Walmart, as well as an IPO.

TRANSPORTATION

• Hawaiian Airlines has begun daily nonstop service between Salt Lake City International Airport and Honolulu. The service features a departure from Honolulu at 6:50 p.m. and arriving in Salt Lake at 5:15 a.m. the following day. The flight from Salt Lake leaves at 7 a.m., with an arrival at 9:55 a.m.