Industry Briefs - 6-17-24

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ACCOUNTING

• Ostrow Reisin Berk & Abrams Ltd., a Chicago-based accounting, tax and advisory firm, has opened its first office outside the Midwest in Salt Lake City. It will help corporate and high-net-worth clients based in the western region of the United States with their tax, accounting and advisory needs. Darin Fullmer is managing the office. His clientele includes high-net-worth individuals, private equity funds, entrepreneurs and businesses. He also specializes in the design, implementation and administration of employer-sponsored retirement plans. He earned a Bachelor of Arts and Master of Arts in accounting degrees at Utah State University.

BANKING

• WebBank, a Salt Lake City-based industrial bank, has appointed Malin Eriksson to its board of directors. Eriksson is a financial services executive who is chief commercial officer of the Swedish start-up Gilion (formerly Ark Kapital), a company focused on AI driven precision finance to fast growing, early-stage companies. Prior to that, she was chief operating officer at Earnest Partners, served as the interim U.S. CEO of Klarna, and co-founded and served as the chief investment officer of Credigy.

CONSTRUCTION

• Salt Lake City has chosen a development team for the renovation of the Historic Northwest Pipeline Building and the redevelopment of the surrounding property. The project, named “The Grove,” aims to create a mixed-use, mixed-income neighborhood that integrates seamlessly with the community. The development team includes Housing Assistance Management Enterprise, Xylem Projects and Common Ground Institute. The selection follows a competitive request-for-proposal process led by a 10-person committee of community members and City officials. The team will enter into negotiations with the city on the final design and financial elements of the project. Construction will be phased. The building, located at 300 East and 200 South, was built in 1958. It was acquired by the city in the 1980s and the building was used as Salt Lake City’s police and fire headquarters until those uses were relocated in 2013. The Grove will feature two new residential buildings with ground-floor retail and the renovated Northwest Pipeline Building for residential and commercial use. These buildings will be connected by public open spaces and pedestrian-friendly streets with public art. The new community proposes 244 mixed-income units.
• Big-D Cos., a Salt Lake City-based group of contractors, has promoted Melissa Beutler Withy to chief legal officer. She will continue to oversee the legal aspects of the company’s business, providing guidance on legal matters and leading its efforts to minimize risk across all sectors of the company. She will also continue to serve on the board of directors. She has spent her career training and advising builders on risk management strategies and contracting topics. She previously served as chairman of the ConsensusDOCS Council and is integrally involved in drafting and revising industry form contract documents. Prior to joining Big-D as General Counsel in 2015, Beutler Withy represented Big-D as a partner at Holland & Hart LLP. She graduated from Brigham Young University’s J. Reuben Clark Law School.
• A topping-off ceremony recently took place at the Spencer Fox Eccles School of Medicine building at the University of Utah, marking the placement of the final structural steel beam. The 211,457-square-foot, two-story teaching, training and research facility will include a high-tech anatomy lab, tailored classrooms, an advanced simulation center, collaborative spaces and conference auditoriums to serve the 500-plus students in the university’s medical program. It will replace the School of Medicine facility that was built in the 1960s. Work on the project began in October 2022. The general contractor is Salt Lake City-based Jacobsen Construction. The design partners on this project are Salt Lake City-based VCBO Architecture and Los Angeles-based Yazdani Studio.

CONTESTS

• Nominations are being accepted until Aug. 1 for the second annual University of Utah Innovation Awards. The awards recognize researchers at the University of Utah who are working to translate their research into technologies that benefit the public. Categories include Startup of the Year, Founder of the Year, Global Impact Award, Innovator of the Year, Investigator on the Rise, Lifetime Achievement Award, Excellence in Innovation Graduate Student Award, Breakthrough of the Year Award, and Excellence in Innovation Undergraduate Student Award. The university’s Technology Licensing Office will host an awards ceremony takes place Oct. 28. Details are at https://technologylicensing.utah.edu/news-events/nominations-open-for-2nd-annual-university-of-utah-innovation-awards.

ECONOMIC INDICATORS

• Workers in Utah who have stayed on their jobs for at least 12 months saw their wages rise by 5.1 percent year-over-year, according to ADP’s “Pay Insights” for May. The median annual salary is $50,500. The statistics also show that younger job-stayers are seeing higher pay growth than older age groups. The increase was 11.6 percent for those ages 16-24; 7.1 percent for those ages 25-34; 4.9 percent for those ages 35-54; and 3.3 percent for those 55 and older.
• Utahns are willing to pay a 32 percent premium for products produced and sold online by businesses in the state, according to a survey by HostingAdvice. The number is highest in Hawaii, at 35 percent. The lowest is in New York, at 8 percent. Ninety percent of respondents nationally said they trust the quality of American products over imported ones, and 72 percent would choose a more expensive American product over a similar international one. Nationally, the survey revealed that 32 percent of online shoppers specifically look for locally made products, while 40 percent do so occasionally. Meanwhile, 28 percent of those surveyed said they do not consider the origin and opt for the best available option regardless of where it was made. 
• Salt Lake City is ranked No. 118 on a list of “Best Cities for Outdoor Grilling,” compiled by Lawn Love. It compared nearly 470 of the biggest U.S. cities, looking at local interest in grilling, access to butcheries and home improvement chains, the average cost of meat in the area, and ideal weather conditions for cooking outdoors.

The top-ranked city is Melbourne, Florida. The bottom-ranked city is Cicero, Illinois. Details are at https://lawnlove.com/blog/best-cities-outdoor-grilling/.

• Three Utah sites are on a list of “Best Locations for Alfresco Dining,” compiled by DatingAdvice.com. It surveyed 3,000 people nationwide to produce a list of the 150 most romantic locations. The Utah sites on the list are No. 96 Main Street in Moab, No. 116 Downtown Salt Lake City, and No. 136 Main Street in Park City. The top-ranked location overall is the Historic District in Savannah, George. Details are at https://www.datingadvice.com/studies/top-romantic-dining-destinations.
• “Act your wage” is the most-loathed corporate jargon in Utah, according to a survey of employees in the state conducted by Careerminds.com. Utahns also hate “effective accelerationism” and “push the envelope,” followed by “balls in the air,” “change agent,” “deliverables,” “bleeding edge,” “mission-critical,” “idea harvesting” and “Spidey sense.” Details are at https://careerminds.com/blog/survey-the-most-loathed-corporate-jargon.

EDUCATION

• Forty-one students graduated from the Master of Business Creation program at the University of Utah’s David Eccles School of Business following the spring semester. It is the fifth and largest group to graduate from the program, designed specifically for entrepreneurs. The group includes the first 15 people to graduate from the MBC’s online option and another 26 who graduated from the in-person option. The graduating MBC founders lead 39 startups in a broad variety of industries. Some startups had more than one founder in the program. The program is an academic offering provided by the Department of Entrepreneurship & Strategy in partnership with the Lassonde Entrepreneur Institute. Both are part of the Eccles School.

ENERGY

• Lumio, a Lehi-based company focused on personalized renewable energy, has appointed Dan Larkin as chief strategy officer. Larkin most recently was founder and CEO of Solo, a solar software company. Prior to Solo, Larkin was part of the team that launched Encōr, a full-stack solar company that installed thousands of projects, and started Evolve Solar.
• Holiday Oil, a Utah-born, family-owned gas station chain, is celebrating its 60th anniversary this summer. Founded in 1964 by Jerry Wagstaff as Wagstaff Oil Co., Holiday Oil is about to open its 75th location along the Wasatch Front. It has more than 800 Utah employees. Among the anniversary festivities, the company is having its third annual “Tools for Schools” campaign through June 17. It is inviting customers to round up their total to fund projects for local school teachers through DonorsChoose.org. Holiday will be matching donations up to $10,000, along with a $5,000 pledge from Swire Coca-Cola, with a goal to raise at least $100,000. In 2023, Holiday raised $76,000 to fund 274 projects in classrooms immediately surrounding the convenience store locations.

GOVERNMENT

• The Salt Lake County Board of Health has appointed Dorothy Adams as Salt Lake County’s local health officer and executive director of the Salt Lake County Health Department. She succeeds Dr. Angela Dunn, who left the department in February for a position with the U.S. Centers for Disease Control and Prevention. Adams has been interim executive director since Dunn’s departure; she had previously been the department’s deputy director since 2014. Adams began working for the Salt Lake City-County Health Department in August 1987. The next year, she created the department’s household hazardous waste collection program. Adams has been with the Salt Lake County Health Department for 37 years.
• Michael Ambre has joined the board of the Point of the Mountain State Land Authority as the newly appointed director of the Utah Division of Facilities Construction and Management. Ambre has worked for years overseeing the demolition of the decades-old Utah State Prison facilities and the design of the site’s infrastructure. Throughout his 24-year career at DFCM, he advanced from project manager to the position of division director.
• Gov. Spencer Cox has appointed Jeff Buhman as a pro tempore member of the Utah Board of Pardons and Parole. Buhman is executive director for the Statewide Association of Prosecutors and Public Attorneys of Utah. He is a partner at Partner, Buhman & Waldron PC. Previously, he served as county attorney for Utah County and as a deputy county attorney in the Utah County and Washington County attorney’s offices. Since 1997, Buhman has served as a colonel in the Utah Army National Guard. He received his bachelor of arts degree in economics from Brigham Young University and a juris doctorate from the J. Reuben Clark Law School at BYU.

HEALTHCARE

• Seek Labs, a Salt Lake City-based healthcare innovations company, has hired Douglas Gladue as vice president of veterinary pharmaceutical development. Gladue is a recognized expert in African swine fever research and development and has decades of knowledge and experience in ASF vaccine research and development. He previously led and developed vaccines from concept to commercialization for foreign animal diseases at the Plum Island Animal Disease Center for the Agricultural Research Service in the U.S. Department of Agriculture.

INSURANCE

• Regence BlueCross BlueShield of Utah has selected Kim Frost as public affairs and government relations director. Frost will maintain strong relationships with Utah legislators and state officials while serving as Regence’s subject matter expert on state and federal policy. Additionally, she will keep industry regulators informed on key healthcare issues and policies that may impact health plan members, employers and Utahns statewide. An executive leader in Utah for more than 11 years, Frost most recently served as the executive director for the Utah Clean Air Partnership. She also serves as vice chair of the state’s Air Quality Board. Earlier in her career, Frost was the president at SQN Escapes after serving on the executive team of the Economic Development Corporation of Utah. Frost is currently on the Salt Lake Chamber of Commerce’s board of governors; serves as the chair of the board of directors for Utah Clean Cities; serves on the advisory council for USU Janet Quinney Lawson Institute for Land, Water and Air; and volunteers as a court-appointed special advocate. She earned a Bachelor of Arts degree from Utah State University in political science.
• PCF Insurance Services, a Lehi-based insurance brokerage, has named Brandon Gray as chief financial officer. He succeeds Felix Morgan, who was named CEO in December. Gray will continue to lead and expand the company’s investment strategies, treasury operations and financing activities, as well as manage debt compliance. In addition, Gray will now oversee all aspects of financial management, including accounting, operating plans and budgeting, financial forecasting and cash flow management. Gray previously served as senior vice president and treasurer. He joined the company in March 2023.

INTERNATIONAL

• World Trade Center Utah is seeking Utah companies that want to participate in a trade mission set to take place Sept. 24-Oct. 5 in South Korea and Japan. The application deadline is July 1. The delegation will be organized around two industry tracks. Utah companies and organizations in manufacturing, aerospace and defense, as well as life sciences and innovation, are encouraged to apply. The $4,000 participation fee per person includes local transportation, networking receptions and most meals. Participants will separately cover their own airfare and lodging. Details are at https://www.wtcutah.com/tradeevents/japan-south-korea-trade-mission-2024.

INVESTMENTS

• Jump, a Salt Lake City-based company offering AI software for financial advisors, has raised $4.6 million in funding led by Sorenson Capital, with participation from Pelion Venture Partnersand angel investors. Jump enables advisors to concentrate on their core competencies, such as advising and building relationships with clients, by using AI to automate repetitive administrative tasks like notetaking, sifting through data from previous client calls and notes to prepare for meetings, writing follow-up emails, generating task lists, and syncing relevant data to CRM. The company was founded in 2022 and launched operations in January of this year.
• Alysio, a Lehi-based company offering a go-to-market performance platform, has closed on a $3.3 million seed funding round. Kickstart Fund led the round and was joined by R-Squared Ventures, SaaS Ventures, Capital Eleven, Upstream, Philo, Service Provider Capital and Spacestation Investments. Alysio’s platform leverages advanced analytics and AI-driven insights to empower GTM teams with real-time performance intelligence, enabling organizations to streamline their GTM processes, optimize strategies, and ultimately drive revenue growth. The seed funding will be used to scale Alysio’s operations, enhance product features, and expand its market reach.

MANUFACTURING

• RealAcoustix, an Ogden-based company focused on acoustic products, has hired Patrick Smith as vice president of sales and general manager. In this role, he will oversee delivering the business results, working closely with operations while directly leading sales, human resources and finance in the company’s Ogden facility. Smith’s three-decade career includes most recently service as sales leader at S.R. Smith, where he managed the wholesale distribution and direct sales channels of specialty retailers and construction companies. Smith’s education includes earning a B.A. in communications from Brigham Young University.

PARTNERSHIPS

• Affirm, a California-based payment network company, has announced an expanded partnership with Alterra Mountain Co., a family of year-round mountain destinations and the owner of Ikon Pass. Eligible travelers will be able to pay over time with Affirm when purchasing an Ikon Pass in the U.S. and for the first time, also in Canada, plus local mountain passes, lodging and lessons when traveling to any of Alterra’s destinations across North America. Denver-based Alterra includes Deer Valley Resort and Solitude Mountain Resort in Utah.

PHILANTHROPY

• Tranont, a Lehi-based healthy lifestyle company, raised $7,900 and packed 1,102 snack bags for the Granite Education Foundaton during its “Ignite 2024” annual global convention in Provo. Funds raised by associates in the “Lift Where You Live” campaign will supply 659 backpacks containing school supplies for students. Granite Education Foundation’s mission is to reduce barriers to learning and increase access to opportunities for students and educators in the Granite School District.

RETAIL

• The Gateway, Salt Lake City, has announced three new merchants. The former sports bar ’Bout Time has re-opened as The Bruce Scottish Pub. A full-service sports pub, it will blend traditional pub fare with Scottish culinary classics. Pearl Milk Tea Club will open its third location, its first in Salt Lake City. It offers a variety of flavors and styles of tea. The only Utah Hawaii Fluid Art provides artists of all ability levels the opportunity to learn and experience new art techniques in a semi-private, safe, professional setting through varied classes and experiences.

SERVICES

• Superior Industrial Refrigeration, an Idaho-based provider of industrial refrigeration systems and services in the Northwest, has opened a new office and service facility at 2532 S. 1760 W., Suite 101, Ogden. The 5,100-square-foot facility will accommodate SIR’s Utah operations, including office space, a service shop, a warehouse for parts and equipment, and a team of ammonia refrigeration professionals. From the location, SIR will provide 24/7 emergency repair service, preventative maintenance, system installations, and compressor retrofits and rebuilds. SIR currently serving Idaho, Utah, Washington, Oregon, Montana and Alaska.

TECHNOLOGY

• BambooHR, a Draper-based company offering human resources software, has appointed Jonathan Leaf as chief revenue officer. He will oversee all revenue-generating functions and be responsible for upleveling their integration and alignment. Leaf’s career spans more than two decades.