Industry Briefs - 8-5-24

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.

AGRICULTURE

• The Utah Farm Bureau has kicked off its 2024 Murray Park Farmers Market, the longest continuously running farmers market in the state (begun in 1981) and the South Jordan Farmers Market next to South Jordan City Hall. The Murray market currently hosts 27 farmers selling a wide variety of products, including peaches, plums, corn and tomatoes. It runs Fridays and Saturdays through Oct. 26. With 24 farmers, the South Jordan market runs through Oct. 12. Market hours are 8 a.m. to 1 p.m. The Murray market this year will feature a children’s program called POP (“Power of Produce”) Club, with funding from Utah’s Ownand Zions Bank. The program was developed by national nonprofit Farmers Market Coalition. Saturdays through Oct. 26, children of all ages are invited to participate in a fun activity and receive $2 “POP Bucks” to spend on fruits and vegetables at the market. The funding for the program enables 50 children per market day to receive POP Bucks. Participation is free. National Farmers Market week, through Aug. 11, will include an Aug. 10 Farmers Market Bingo and crafts at both markets.

APPAREL

• Kizik, a Lindon-based hands-free footwear brand, has hired Elizabeth Drori as chief marketing officer. Drori has led marketing efforts for global omnichannel brands, specifically across the apparel and footwear categories. Drori joins Kizik from Sperry, where she served as global chief marketing officer and general manager of the Sperry e-commerce business. Prior to Sperry, she led marketing for Walmart’s fashion business and held roles at Converse and Boston Consulting Group, where she was a senior marketing leader and consultant, respectively.

ASSOCIATIONS

• The Utah Manufacturers Association has added Tulinda Larsen as senior advisor. She will play a role in assisting UMA with workforce grant applications and implementation, as well as working with the UMA team to create a consortium for Utah’s cut-and-sew manufacturing industry. She also will support a new proposal application to the National Science Foundation’s Experiential Learning for Emerging and Novel Technologies (ExLENT) program. Larsen previously served as president of the Utah Advanced Materials and Manufacturing Initiative (UAMMI), currently known as the 47G UAMMI Institute.
• Utah defense and aerospace association 47G has appointed James Taylor as executive director of the 47G Institute. He succeeds Tulinda Larsen. Taylor has managed multiple industry initiatives through his career at LSI and has secured billions of dollars of federal grant funding for his clients.

BANKING

• FinWise Bancorp, the Murray-based parent company of FinWise Bank, has appointed Susan Ehrlich to the company’s board as well as to the bank’s board of directors. Ehrlich has over 25 years of experience in lending, banking and payments across fintech, financial services and retail. She currently serves as partner of Core Innovation Capital, an early-stage fintech venture capital firm. Ehrlich has also served on the board of directors for the Boeing Employees Credit Union and Petal Card. She has also served as the board chair of the Financial Health Network (formerly CFSI) and was a member of the Consumer Advisory Council of the Federal Reserve in Washington.

CONSTRUCTION

• Stack Homes, a Salt Lake City based modular builder, has changed the name of its manufacturing division from Stack Modular Development to Polaris Modular. The company said the new name reflects its evolution from direct-to-consumer home sales to servicing developer’s residential and commercial projects. The Stack Homes product line remains within Polaris Modular’s portfolio of designs. Stack Homes was founded in 2019. It entered the market selling luxury, sustainable single-family homes and accessory dwelling units direct to consumers throughout the western United States. In 2023, Stack Homes acquired a modular manufacturing company to expand its production capacity to 720 homes per year on their production line.
• Helix Electric, an electrical contractor specializing in design-build and electrical projects throughout Nevada and Utah, has promoted Nathan Sawyer to operations manager. He will be responsible for developing, driving and overseeing the budget and P&L, ensuring the company stays on its financial performance track, among other duties. Sawyer has been with Helix for three years, with leadership and expertise in electrical contracting. Sawyer’s education includes a degree from the University of Utah.

E-COMMERCE

• Beyond Inc., the Midvale-based owner of Overstock, Bed Bath & Beyond, Zulily and other online retail brands, has announced Overstock’s grand reopening. The revived brand’s lineup includes closeouts, liquidation, factory direct and reverse logistics merchandise, as well as expanded new and legacy categories. Plans for the site feature millions of products in a variety of categories.

ECONOMIC INDICATORS

• Several Utah cities are on lists of the “U.S. Cities with the Fastest Internet,” compiled by ISP Reports, an authority in Internet service provider data transparency. Among cities with 1 million or more residents, Salt Lake City is No 1, with an average speed of 6,467 Mbps. Among cities with 500,000 to 999,999 residents, Provo is No. 3, with 5,168 Mbps. Among cities with 100,000 to 249,999 residents, West Valley City is No. 1, with 9,490 Mbps. Among cities with 50,000 to 99,999 residents, Layton is No. 1, with 9,805 Mbps; Orem is No. 2, with 9,692 Mbps; and Murray is No. 3, with 9,331 Mbps.
• Orem is ranked No. 72 on a list of 100 “hidden gem” cities for business startups, compiled by MarketBeat.com. It surveyed business executives in order to create the list. It said Orem “offers a unique environment for startups, particularly in technology, education and healthcare. The Business Resource Center at Utah Valley University provides essential support, including mentoring, funding and coworking spaces. Orem’s strong academic presence, vibrant community and supportive business environment make it a hidden gem for new businesses.” The top location is Sebnring, Florida. Details are at https://www.marketbeat.com/originals/americas-top-100-hidden-gem-cities-for-startups/.
• Lehi is ranked No. 80 on a list of “Leading Cities for Quality of Life,” compiled by LawnStarter. It compared 500 of the biggest U.S. cities based on 16 categories, including life expectancy, unemployment rates, state rankings of workers’ rights, and food security. Lehi is the highest-ranked Utah city. Salt Lake City is No. 259. The lowest-ranked Utah city is West Valley City, at No. 457. The top-ranked city overall is Redmond, Washington. The bottom-ranked city is Flint, Michigan. Details are at https://www.lawnstarter.com/blog/studies/best-quality-of-life/.
• Sixty-seven percent of surveyed Utahns indicate they occasionally yell at virtual assistants like Siri, Alexa and Google Assistant, according to Gameland.gg. The national figure is 32 percent yelling on a weekly basis. The highest number, 77 percent, is in Wisconsin. The lowest is 17 percent, in Oregon. Among all virtual assistants, Siri is the biggest troublemaker in Utah. Nationally, women are more prone to snapping at their virtual assistants compared to men, with 62 percent of women and 53 percent of men acknowledging this behavior. Details are at https://gameland.gg/comparison/virtual-assistant-frustration.
• Three Utah locations are on a list of the 125 “top picnic gems” in the U.S., compiled by Mixbook. It commissioned a survey to uncover and rank the ultimate off-the-radar picnic spots across America. Utah locations are No. 22 Antelope Island State Park, Syracuse; No. 56 Big Cottonwood Canyon, Salt Lake City; and No. 102 Red Butte Garden, Salt Lake City. The top spot overall is Leu Gardens in Orlando, Florida. Details are at https://www.mixbook.com/inspiration/discover-americas-hidden-picnic-gems-top-125-off-grid-spots-for-your-next-outdoor-adventure.
• Anxiety levels across Utah have risen 6 percent over the past five years, putting Utah at No. 5 among states, according to a study by A Mission for Michael. It analyzed anxiety and stress levels over the past five years to determine if Americans are becoming more or less anxious. The highest increase is 7 percent, in Louisiana. The smallest is in Hawaii, at 3 percent. The study revealed that the average percentage of frequent mental anxiety increased from 12 percent in 2019 to 17 percent in 2024 across all counties in America. In Utah, residents of Carbon have experienced the greatest rise in anxiety levels over the past five years, with an 8 percent increase, while residents in San Juan and Utah counties experienced the least rise, at 4 percent. Details are at https://amfmtreatment.com/rising-anxiety-levels-across-america/.
• Utah Valley University is ranked No. 2, the University of Utah is No. 7, Utah State University is No. 24 and Weber State University is No. 28 on the 2024 College Singles Index, compiled by RentHop. It ranked the 100 largest schools by their desirability for single students, considering the possibilities and costs for dating, tuition and housing. Details are at https://www.renthop.com/research/renthop-college-singles-index-2024/.
• Fifty percent of surveyed Utahns indicate they will be cutting back on their air conditioning use this summer in order to cut costs, according to BadCredit.org. That compares with 47 percent nationally. The lowest figure for any state is Alaska, at 25 percent, while the highest is 75 percent in Nebraska. Most of those nationally who are cutting back plan to use fans (57 percent). Details are at https://www.badcredit.org/studies/americans-adjust-air-conditioning-use-to-lower-costs/.

EDUCATION/TRAINING

• Southern Utah University has named Lucia Maloy as general counsel. She will serve as SUU’s chief legal officer and oversee the university’s Office of Legal Affairs. Maloy has served in a legal counsel capacity for SUU since 2020, most recently serving as associate general counsel for the Office of Legal Affairs. Before joining SUU, Maloy practiced as a civil litigator for the Utah Attorney General’s Office. Prior to law school, she worked as an athletic trainer and taught sports medicine courses in NCAA Division I and II programs. Maloy’s education includes a Master of Science degree in exercise science from Brigham Young University, and she graduated from the J. Reuben Clark Law School at BYU in 2015.

ENERGY

• A team of energy industry professionals, rPlus Energies, based in Salt Lake City, has closed on over $1 billion in construction debt financing for its Green River Energy Center project subsidiary. Located in Emery County, the project is comprised of 400 megawatts of solar PV and 400 MW/1,600 megawatt-hours of battery storage and has a power purchase agreement with PacifiCorp. Five financial institutions are contributing to this debt financing deal as coordinating lead arrangers: Crédit Agricole Corporate and Investment Bank, KeyBanc Capital Markets, MUFG Bank Ltd., Truist Securities Inc. and Wells Fargo Securities LLC, with MUFG acting as administrative agent for the lenders. Norton Rose Fulbright served as lead counsel to rPlus. Dorsey & Whitney served as special Utah counsel. The lenders were represented by Winston & Strawn, with support from Snell & Wilmer on Utah law matters.

FRANCHISING

• Five Star Franchising, a Springville-based platform of home services franchise opportunities, has named Colt Florenceas senior vice president of franchise development. He will lead the franchise development sales and marketing teams to further accelerate new and existing franchise owner growth as the platform eyes future home service brand acquisitions. Florence has more than a decade of experience in franchise development and sales, including leadership positions with franchise brand platforms. Florence graduated from Weber State University. The company also announced several other promotions: Missy Wright, vice president of franchise development for Five Star Franchising; Tyson Bills, vice president of marketing at Five Star Franchising; Wanda Hoegren, vice president of operations at Gotcha Covered; and David Dunsmuir, brand president at Gotcha Covered.

GOVERNMENT

• The Utah Center for Immigration & Integration, part of the Governor’s Office of Economic Opportunity, has added Pakiza Munir as global talent coordinator and Aila Amer as a Utah Citizenship Initiative project fellow. Munir support the center’s global talent initiatives. Originally from Afghanistan, Munir has a master’s degree in economics and extensive experience working with human rights organizations. Pakiza’s passion lies in advocating for equal opportunities across gender, race, and background. Amer will support the center’s Utah citizenship initiative. She has a master’s degree in educational leadership and policy, complemented by experience in government and academic settings, and she is passionate about fostering inclusive environments and supporting communities from diverse backgrounds.
• The Salt Lake County Library Board has announced the appointment of Joey McNamee as director of the County Library. After a national search, the board voted in favor of the appointment, and Salt Lake County Mayor Jenny Wilson has ratified the decision. McNamee succeeds Jim Cooper, who retired in February after 23 years. McNamee has been serving in an interim capacity as the library director since February. McNamee has two decades of experience at state and county departments. He was appointed as associate director for the Salt Lake County Community Services department in 2022 after working in Salt Lake County’s Aging and Adult Services division for more than a decade, most recently as the associate division director. McNamee’s education includes a master’s degree in public administration from the University of Utah. The County Library has 18 full-service branches, reading rooms in Alta and South Main Clinic, the Viridian Event Center, and service in the Salt Lake County Jail.
• Salt Lake City has announced its 2024 awardees through the 2024 SLC Community Food Microgrant program. This year, the second the program has been offered, the grant program provided over $40,000 in funding to increase residents’ access to fresh, healthy, affordable and culturally relevant food. Community groups engaged in projects that address one or more of the grant priority categories (growing food, inclusive outreach, dignified food access, and healthy food environments) were selected for up to $5,000 of funding. Awardees in 2024 are ‘Aikona, Fill the Pot Ministries, Food Justice Coalition, Missio Dei Community, New American Goat Club, Proyecto Xilonen, Salt Lake City Community Fridges, Salt Lake City Food Not Bombs, Somali Community Self-Management Agency and Vanavil Community Garden. Also, 62 individual residents or households were awarded $250 each to support their own home food production efforts.

HEALTHCARE

• Intermountain Health, based in Salt Lake City, has named four new members to its Board of Trustees: Mario M. Carrera, Russell “Chip” Childs, Seraphine Kapsandoy-Jones and Randal K. Quarles. Outgoing board members are Spencer Eccles, with 42 years of service; Scott Anderson, 19 years; Neal Berube, 13 years; and Crystal Maggelet, seven years. 1Carrera has 35 years of experience in media, marketing and management and works to enhance the life and economic well-being of Latinos and community at-large through leadership development, advocacy and policy research. He most recently served as the president and CEO of the nonprofit and nonpartisan Colorado Latino Leadership, Advocacy and Research Organization. Childs is CEO and president of SkyWest Inc. He has served as president since 2014. Kapsandoy-Jones is vice president of population healthcare and clinical operations at Centene Corp. She has 20 years of nursing practice, leadership, clinical informatics, and healthcare information technology experience. She earned a Bachelor of Nursing and Ph.D. from the University of Utah. Quarles is chairman and co-founder of The Cynosure Group and was vice chairman of the Federal Reserve System from October of 2017 through October 2021, serving as the system’s first vice chairman for supervision, charged with ensuring stability of the financial sector. He also served as the chairman of the Financial Stability Board and was a key architect of the Fed’s crisis response in March 2020. Intermountain Health is a nonprofit system of 33 hospitals, 385 clinics, medical groups with some 4,600 employed physicians and advanced care providers, a health plans division called Select Health with more than 1 million members, and other health services.
• Renew Biotechnologies, a Provo-based biotech company, has appointed Steven Abbott as chief operating officer to lead subsidiary Wasatch BioLabs’ transition, from its current research and development phase into full-scale commercial operations. Abbott has over 15 years of experience in the biotechnology and life sciences industries, most recently serving as vice president of lab operations at Flagship Biosciences Inc. Prior to that, he held leadership positions at Q² Solutions, including director of genomics business development and director of global genomics lab operations.

HOSPITALITY

• LivAway Suites, based in Lehi, has opened its first hotel located in the Salt Lake City metropolitan area, in West Jordan. The 126-suite hotel was built in just over 12 months. The hotel developer is West77 Partners. LivAway has had eight groundbreakings over the past 11 months and plans to break ground on 20 more locations over the next year.

INSURANCE

• MGIS, a Salt Lake City-based provider of disability insurance for doctors, has named Jim Wrageas vice president of sales and distribution. Wrage has over three decades of experience at Principal Financial Group, most recently as national vice president of benefits and protection. Wrage succeeds Kurt Meyer, who will retire at the end of 2024. Meyer was with the company for 11 years.

INVESTMENTS

• After.com, a Provo-based company offering an online platform that helps families navigate end-of-life services, has raised $10 million for its Series A funding round, led by HIPstr, the early-stage investment arm of HighPost Capital LLC. After.com said it intends to use the proceeds to enter new markets, add talent throughout the organization, and further enhance its marketing efforts to support both the pre-need and at-need business segments. The company was founded in 2020 and serves customers in Arizona, Southern California, Colorado, Oregon, Utah and Washington.

INTERNATIONAL

• During Ukrainian President Volodymyr Zelenskyy’s recent visit to Utah, government officials signed a memorandum of understanding (MOU) between Utah and Kyiv Oblast, the Ukrainian province surrounding the capital city of Kyiv. As a result of the MOU, Utah and Kyiv Oblast commit to working more closely in multiple areas, including industries such as aerospace and defense, technology and life sciences, energy diversification and academia. In 2008, the Ukrainian Ministry of Foreign Affairs opened a Ukrainian consulate office in Utah to support Ukrainian nationals living in the state, foster economic development between Utah and Ukraine, promote cultural exchanges and host visiting Ukrainian diplomats.

MEDIA

• Michael J. Fox, former executive director of the Utah Press Association, died July 2 at age 77 of Parkinson’s disease. Fox was born Sept. 24, 1946, in Heber City, to Richard and Lois Fox. He grew up in Heber, graduated from high school there in 1964. He and his wife, Nancy, had one child, Cameron. Fox went into painting and sold some prize pieces on his website, “Dancing Fox,” and also at showings in a St. George gallery. He worked for NAC (Newspaper Agency Corp.) and Utah Press Association, where his tenure was marked by his unwavering commitment to the press’s role in the community.

NONPROFITS

• Switchpoint, a St. George-based nonprofit organization dedicated to combating homelessness and extreme poverty, has received a $1.8 million grant from the Olene Walker Housing Loan Fund, a $1 million grant from The Church of Jesus Christ of Latter-day Saints and a $1 million grant from the Larry H. & Gail Miller Family Foundation. The funds will support the completion of Phase 2 of Switchpoint’s Fairpark Deeply Affordable and Permanently Supportive Housing project, located at 130 N. 2100 W., Salt Lake City. Switchpoint purchased the property in June 2022. Phase 1 of the project, completed in May 2023, included property acquisition and renovation, resulting in 91 studio units, which are now fully occupied by seniors and veterans experiencing homelessness. Phase 2 of the project will focus on several improvements and a two-story addition of 2,858 square feet. Switchpoint has developed five affordable housing projects (with 266 units) since 2020.

PARTNERSHIPS

• Opiniion, a Lindon-based company offering an automated tool for property management companies to collect authentic real-time feedback from residents, has partnered with Lift Residential, a Cottonwood Heights property management company. Lift Residential will be utilizing Opiniion to not only provide better customer service but to put a greater emphasis on finding solutions to residents’ needs.
• Awardco, a Lehi-based provider of employee recognition and rewards solutions, has announced partnership with employee experience platform Speakap. The partnership allows users of both platforms to integrate their employee recognition programs into their existing communication channels, simplifying and streamlining employee recognition and making it more accessible, impactful, and visible to all employees.

REAL ESTATE

• The Eagle Mountain Medical Office Building development at 4263 N. Pony Express Parkway, Eagle Mountain, is expected to be completed during the third quarter of 2025 and will be occupied by several regional physician groups. The announcement was made by JLL Capital Markets, which arranged equity placement for the 24,655-square-foot project. JLL advised Fort Street Partners to secure the equity through Chestnut Healthcare Real Estate. The two-story project will be built on a 1.72-acre site.

RECOGNITIONS

• Intermountain Health is ranked No. 2, behind only the Mayor Clinic, in a Hospital AI Readiness Index, compiled by CB Insights. It considered the top private-sector health systems in the U.S. (by hospital count) and ranked them based on how prepared they are to adapt to a rapidly evolving AI landscape across innovation and execution. Details are at https://www.cbinsights.com/research/ai-readiness-index-healthcare-hospital/.
• Five Star Bath Solutions, a Springville bath remodeling franchises, has been named one of the “Top 150 Brands for Multi-Unit Owners” by Entrepreneur Magazine, ranking No. 139 on the list. The rankings identify brands that most appeal to prospective franchisees interested in multi-unit ownership in addition to current franchisees who are looking to expand their business portfolio. In the past two years, the brand has opened over 150 new territories. Since July 2023, Five Star Bath Solutions has increased its total locations by nearly 100, with an additional 23 multi-unit owners.

RESTAURANTS

• Milkshake Factory has opened a story in Pleasant Grove. It is the first franchise of the Pittsburgh-based company, which opened in that city in 1914. The franchise owner is Micah Keith.

RETAIL

• Sportsman’s Warehouse Holdings Inc., a West Jordan-based outdoor specialty retailer, has named Susan Sanderson as senior vice president of marketing, e-commerce and loyalty. She is responsible for the company’s digital and traditional marketing, e-commerce, brand strategy, omni-channel experience, and loyalty programs. Sanderson has more than two decades of experience as a corporate officer, principal consultant and agency strategist. Her recent roles include senior vice president of enterprise marketing at Party City Holding Inc., chief brand and customer experience officer at The Vitamin Shoppe, and acting deputy vice president of brand experience at Walgreens Boots Alliance.
• Smith’s Food & Drug has opened a new Smith’s Marketplace store at 744 N. Main St. in Heber City. The 123,000 square foot multi-department store offers a full line of grocery products along with apparel, household goods, outdoor garden center and sporting equipment. Smith’s has hired 88 new employees in addition to approximately 135 associates who have transferred from the current Smith’s store in Heber City and other area stores. In a first for Smith’s, the $40 million Heber store has been equipped with sustainable CO2 cooling technology. During construction, Smith’s required the builder, R&O Construction, to recycle 90 percent of the project’s total non-hazardous waste as part of Smith’s “Zero Hunger|Zero Waste” initiative.

TECHNOLOGY

• Health Catalyst Inc., a Salt Lake City-based provider of data and analytics technology and services to healthcare organizations, has entered into a five-year term loan facility for up to $225 million with Silver Point Finance, the direct lending business of Silver Point Capital LP. The financing consists of an initial term loan facility in an aggregate principal amount of $125 million and a delayed draw term loan facility of $100 million. Health Catalyst borrowed $125 million of the initial facility and said it will use net proceeds, together with cash on hand, to refinance its existing convertible notes, which mature in 2025 and for working capital and general corporate purposes. Proceeds of the delayed draw facility may be used to fund Health Catalyst’s inorganic growth strategy. Lazard acted as sole placement agent and financial advisor to the company in connection with the credit facility, and Latham & Watkins LLP acted as legal advisor.
• Zartico, a Salt Lake City-based technology company, has added Regine Lawton as chief technology officer and expanded the role for Nicole Brownell, who will now serve as both chief experience officer and chief product officer. Lawton has over three decades of experience leading digital transformations and driving innovation, including Modern Technologies Consulting, AeroVironment, Technicolor and Apple Computer. Brownell now is responsible for the full life cycle of the customer experience, from oversight of Zartico’s product vision, strategy and product development, to how Zartico products reach the hands of the customers.
• TourismIQ, a platform designed for destination marketing professionals, has launched. Based in Provo, it was co-founded by tourism industry veterans Adam Stoker and Colby Remund. TourismIQ aims to be a dedicated digital meeting place where industry experts can collaborate, share resources, discuss job openings and more.
• Clozd, a Lehi-based provider of win-loss analysis software, has appointed John Thimsen to its board of directors. Thimsen is chief technology and product officer at Mason. He previously was chief technology officer at Qualtrics and before that was part of the founding Amazon Alexa team and played a role in bringing the Amazon Echo to the market.