Industry Briefs - 12-16-24

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ASSOCIATIONS

• The St. George Area Chamber of Commerce has announced new board members and vice chair for 2024. The new board members are Gregg Robison, CEO of RAM Aviation, Space & Defense; Elizabeth Wilson, CEO of Zeek; Josh Sutton, director of sales and marketing at Wittwer Hospitality; and Ronda Neilson, chief of staff at Black Desert Resort. Henrie Walton, interim chief of staff and assistant to the president for government and community relations at Utah Tech University, will assume the role of vice chair.

BANKING

• Sunwest Bank, based in Sandy, has hired Jason Watsonas senior vice president and Utah regional president. Watson has been in banking for more than 26 years, most recently as a senior vice present senior relationship manager at Hillcrest Bank/NBH. Before that, he led business development efforts for Eide Bailly LLP, Zions Bank and Wells Fargo. Watson attended Weber State University, studying professional sales. Sunwest has operations in California, Arizona, Idaho, Utah and Florida.
• Bank of Utah, based in Ogden, has appointed Sean Morrison as senior vice president of human resources. Morrison joins Bank of Utah after five years as vice president of human resources at Mountain America Credit Union. His previous experience includes senior HR leadership roles at Procter & Gamble, PepsiCo and Guckenheimer. He also supported 5,500 employees and thousands of volunteers globally at a prominent nonprofit organization. Morrison earned an MBA at Brigham Young University. Bank of Utah has about 400 employees; 18 full-service branches throughout Utah; trust teams in Ogden and Salt Lake City; and mortgage offices in Logan, Price, Vernal and St. George.

COMMUNICATIONS

• The Utah Broadband Center, part of the Governor’s Office of Economic Opportunity, has announced the completion of the Utah Broadband Project in Croydon. It is part of the state’s efforts to expand access to high-speed Internet in underserved areas. The work of All West Communications and the impact of the Utah Broadband Access Grant in funding this transformative project has led to fiber-to-the-premises technology to approximately 56 homes and businesses in Morgan County. This infrastructure includes four miles of mainline fiber, leveraging All West’s existing network to deliver up to one-gigabit symmetrical Internet speed to a previously underserved rural community. The Utah Broadband Access Grant provided $15 million in funding from the U.S. Treasury’s Federal Capital Projects Fund.

CONTESTS

• Nominations are being accepted until Feb. 5 for the Intermountain Sustainability Summit awards, to be presented at the 16th annual Intermountain Sustainability Summit set for March 20-21 at Weber State University. The ISS Collaboration Awardfocuses on cross-sectional partnerships and collaborations across the Intermountain West that are driving positive environmental change and building a sustainable future. The ISS Regeneration Awardhonors projects and organizations that have demonstrated exceptional commitment to regenerating environments, fostering a social equilibrium, and promoting long-term sustainability. Details are at https://www.weber.edu/ISSummit/ISS-awards.html.

CORPORATE

• Extra Space Storage Inc., a Salt Lake City-based owner and operator of self-storage facilities in the U.S., has announced that its operating partnership, Extra Space Storage LP, has priced a public offering of $300 million aggregate principal amount of additional 5.7 percent senior notes due 2028. The offering was expected to close on or about Dec. 5. The notes were issued as additional notes under the indenture pursuant to which the operating partnership previously issued $500 million of 5.7 percent senior notes due 2028. J.P. Morgan, BMO Capital Markets, TD Securities, BofA Securities, PNC Capital Markets LLC, Truist Securities, Wells Fargo Securities and US Bancorp acted as the joint book-running managers for the offering. Regions Securities LLC, BOK Financial Securities Inc., Citigroup, Huntington Capital Markets, Scotiabank, Zions Capital Markets, Fifth Third Securities, Academy Securities and Ramirez & Co. Inc. were the co-managers for the offering. The operating partnership intends to use the net proceeds from this offering to repay amounts outstanding from time to time under its lines of credit, and for other general corporate and working capital purposes, including funding potential acquisition opportunities.

ECONOMIC INDICATORS

• Half of young Utahns are willing to work 60-hour weeks in order to climb the career ladder, according to a survey by Career.io. The national figure is 61 percent. Career.io surveyed young professionals to pinpoint where America’s most ambitious workers reside. On a list of cities with the most ambitious young professionals, Salt Lake City is No. 38 and Provo is No. 96. The top-ranked city overall is New York City. Details are at https://career.io/career-advice/americas-top-cities-for-ambitious-young-professionals.
• Christmas Tree Farm Helper is the most-coveted “festive gig” in Utah this year, according to a survey by Career.io. It was followed, in order, by seasonal decorator, gift wrapper, party/event host, toy store associate, Santa Claus and elf roles, holiday tour guide, seasonal sales associate, holiday market vendor and festive photographer assistant. Details are at https://career.io/career-advice/survey-the-most-sought-after-holiday-jobs-by-state.
• Utah is ranked No. 23 on a list of states inundated with online scams, losing a record $132.2 million last year, according to a study by reverse search company Social Catfish. Utah also ranks No. 36 for victims per capita with 813 per 100,000 residents. Social Catfish used the most recent data from the FBI, FTC and trends from millions of users on its website to compiled the rankings. Utah’s 5,051 victims lost a total of nearly $132.3 million. The highest rate of online scams is in Georgia, at 1,564 reports per 100,000 population. The lowest is in South Dakota, at 588. Among scams related to crypto, Utah is No. 14 at 18.8 per 100,000 population, with 637 victims losing $36 million. Nevada has the highest rate, at 29.5 per 100,000 population, while Mississippi has the lowest, at 7.8. Details are at https://socialcatfish.com/scamfish/state-of-online-scams-2024/.
• Salt Lake City is ranked No. 101 and Provo is No. 135 on a list of “pawnshop loan hotspots,” according to a study conducted by BadCredit.org. They are notable for having residents who are among the most likely to rely on short-term loans, and pawnshop loans in particular. The top-ranked location is Miami. Details are at https://www.badcredit.org/studies/americans-prefer-payday-loans/.
• Utah workers who have stayed in their job for at least 12 months saw their wages increase 4.8 percent year-over-year in November, according to ADP Pay Insights. The median salary in the state in October was $52,100. Nationally, the median annual pay for job-stayers in November increased to $59,200, while the median annual wage growth increased for the first time in over two years to 4.8 percent. Nationally, wage growth for job-changers rose to 7.2 percent. Details are at https://payinsights.adp.com/.
• Two Utah locations are included on a list of the “Top 150 Favorite Christmas Shopping Destinations” in the U.S., compiled by Present.com. They are No. 96 Main Street in Park City and No. 127 Main Street in Moab. Present.com conducted a poll to identify the nation’s 150 top main streets for holiday shopping. The top location overall is Main Street in Aurora, New York. Details are at https://present.com/top-usa-streets-christmas-shopping-2024-survey/.
• Park City is ranked No. 20 on a list of “most sustainable suburbs” in the U.S., a list compiled by solar and battery warranty provider Solar Insure. It identified 120 such sites in the nation. It noted that Park City is known for its eco-conscious tourism and outdoor recreation, and that it emphasizes renewable energy, recycling and green building codes. The town’s trails and bike-friendly infrastructure make it a haven for residents committed to environmental sustainability, it added. The top-ranked city overall is Coral Gables, Florida. Details are at https://www.solarinsure.com/sustainable-suburbs.
• Utah is ranked No. 6 on a list of places with the worst-dressed men in the U.S., according to a survey of women by DatingAdvice. The look most popular in the survey is the “urban edge” style popularized in New Jersey. Utah men’s “Alpine adventurer” look received low rankings. “Utah’s outdoorsy layers are practical but might feel a little too ready for the slopes. Women might want a man who’s adventurous without looking like he’s permanently stuck in ski season,” DatingAdvice said. Details are at https://www.datingadvice.com/studies/americas-best-dressed-men.
• Utah sports fans devote an average of 286 days of their lifetime to their favorite teams, according to a survey by sports platform PromoGuy and based on an average fandom of 60 years over a lifetime. That equates to 0.78 years spent watching games, keeping up with scores and news, or following their team on social media. That figure is the lowest nationwide. In second place was Oklahoma, with 325 days per lifetime. The national figure is 624 days, equating to 4.8 hours per week, or 1.71 years. The highest figure was in Mississippi, at 962 days, or 2.64 years. Details are at https://www.promoguy.us/sports-fan-time-index.
• Utah is ranked No. 1 on a list of best states for seniors’ mental health, according Seniorly. It based the results on five categories using the most recent CDC and Census Bureau data from 2022-24. The report indicates that Utah is No. 1 for the percentage of householders age 60-plus, 30.6 percent; No. 2 for number of adults 65-plus per mental health specialist, 19; No. 5 for the percentage of adults 60-plus who always or usually get emotional and social support, 71.2 percent; No. 24 for mentally unhealthy days per month among adults 65-plus, 2.9; and No. 34 for the percentage of adults 65-plus who have ever been told they have depression, 16.5 percent. Details are at https://www.seniorly.com/resource-center/seniorly-news/best-and-worst-states-for-the-mental-health-of-seniors.
• Salt Lake City is ranked No. 3 and West Jordan is ranked No. 146 on a list of “Cities with the Closest Family Bonds,” compiled by Pitaka. Its survey revealed 150 U.S. cities based on whether they have family gatherings at least once per month, either in person, or remotely. The top-ranked city overall is Memphis. The No. 15 city is Sparks, Nevada. Details are at https://www.ipitaka.com/blogs/news/survey-reveals-us-cities-with-the-closest-family-bonds.
• German shepherds are the most-feared dog breed among Utah delivery drivers, according to a survey by personal injury law firm Bisnar Chase. Coming in second and third are rottweilers and pit bull terriers, respectively. Details are at https://www.bestattorney.com/dreading-deliveries/.

FRANCHISING

• Caring Transitions, a franchise providing comprehensive senior relocation, downsizing and estate sale solutions, has announced plans to expand into Salt Lake City. Operating for nearly 20 years, the company has over 350 units nationwide. Caring Transitions aims to establish three new locations in Salt Lake City, with areas like Sugar House, Capitol Hill and Liberty Wells primed for growth. It notes that Salt Lake City has a rapidly expanding senior population, with the number of residents aged 65 and older rising by 11.63 percent.

GOVERNMENT

• The U.S. Department of Labor is seeking to return $2,347,439 in wages recovered by its Wage and Hour Division’s Salt Lake City District Office to 1,507 workers who have earned them and is encouraging people to use the Workers Owed Wages online tool. Anyone who believes they may be owed back wages or knows someone who may be owed wages are encouraged to use the WOW online tool to verify if they are eligible to claim wages an employer or former employer may owe them. The tool is available in English and Spanish at https://www.dol.gov/agencies/whd/wow.

HEALTH CARE

• Intermountain Health has named Ryan Smith as chief digital and information officer. He will begin in early 2025. He also will serve as a member of the Enterprise Leadership Team and will lead digital technology services, including DTS operations, digital services, data services, clinical informatics, information security and information technology. Smith has experience in healthcare technology, including with Intermountain. He served in several senior leadership roles across the enterprise for nearly 20 years. He then held executive roles with Health Catalyst and served as senior vice president of technology and chief information officer at Banner Health. Smith then returned to Intermountain as chief information officer from 2020 to 2022 before joining Graphite Health as its chief operating officer. He now serves as Graphite’s interim president and CEO.
• Civica, a Lehi-based nonprofit pharmaceutical company, has announced that four new members have joined the company: Winona Health (Minnesota), Boulder Community Health (Colorado), Stanford Health Care (California) and Essentia Health (Minnesota). Under the Civica model, hospitals enter market-stabilizing contracts directly with the company, avoiding middlemen players. Civica offers all members the same cost-plus price for these products, regardless of hospital size, and strives to provide 6 months of buffer inventory. Civica was formed in 2018 and today has nearly sixty health systems as members, which include approximately 1,400 hospitals. The company currently delivers about 80 drugs.
• Second Heart Assist Inc., based in Salt Lake City, has appointed Clayton Taylor as chairman of its board of directors. Taylor has a 27-year track record as a founder, CEO, board member and chair. Second Heart Assist is developing a temporary mechanical circulatory support system that utilizes a stent cage fitted with a motorized impeller to aid in providing circulatory support throughout a patient’s body.

HOSPITALITY

• Lodging Dynamics Hospitality Group, a Provo-based operator of premium-brand hotels, has appointed Lisa Carlsonas chief operating officer. Carlson has three decades of leadership experience spanning premium, independent and boutique hotels nationwide, including leadership of over 45 hotels across multiple states. Her expertise includes launching and repositioning hotels, managing renovations, and implementing innovative strategies to elevate portfolio profitability. In addition to her professional achievements, Carlson has held prominent leadership roles within the industry, including chair of the General Managers Advisory Board for IHG.

INVESTMENTS

• Unified Commerce Group, based in New York, has closed its investment in Böhme, a Draper-based womenswear retailer. The amount was not disclosed. UCG made an initial investment in Böhme in early 2024, and increased its investment to become the majority shareholder. UCG assumes operational control of Böhme, with UCG Founder Dustin Jones taking the role of CEO. Böhme Co-Founder Vivien Böhme will remain in her role as president running day-to-day operations. Böhme launched in 2006 with its first store in the Fashion Place Mall in Murray. It now has 15 stores throughout Utah, Arizona, Idaho and Montana, as well as an online presence.

LAW

• Holland & Hart has elected Melissa Reynolds and Steve Suflas as partners at its Salt Lake City office, effective Jan. 1. Reynolds provides counsel to clients on enforcement and compliance issues involving natural resources, with an emphasis on water quality and water rights. Suflas has more than four decades of national experience, providing strategic counsel and pragmatic guidance to help employers respond to employment and labor law issues. Holland & Hart also announced that real estate associate Shad Edwards has rejoined the firm in Salt Lake City. Edwards represents clients in a range of real estate transactions, including real estate lending, development, land use and renewable energy. Prior to re-joining Holland & Hart, Edwards worked as in-house real estate counsel to a renewable energy company within the U.S. He regularly advises renewable energy clients regarding complex diligence and real estate matters associated with utility-scale renewable energy projects.

MANUFACTURING

• The board of directors of Clarus Corp., a Salt Lake City-based company that designs and develops class equipment and lifestyle products for outdoor enthusiasts, has appointed Mark Besca to serve on the board and to the board’s audit committee. Besca has over 40 years of accounting and financial expertise, serving in leadership roles as an advisor to Fortune 500 companies and as a public company board member. Since 2020, he has been a member of the board of directors and audit committee chair of Markel Group Inc. Prior to his retirement in 2020, he spent 40 years at EY (formerly Ernst & Young LLP), serving as lead and senior advisory audit partner to some of the largest public companies in the media and entertainment, consumer products and airline industries. With Besca’s appointment, the Clarus board will have seven directors, six of whom are independent.
• The Synergy Co., a Moab-based producer of organic supplements, has announced its recertification as a Certified B Corporation. The company said the achievement “underscores the company’s unwavering dedication to social and environmental responsibility and reflects substantial progress in five critical areas assessed by B Lab,” the nonprofit entity behind B Corp Certification. The areas are customers, governance, environment, workers and community.

PARTNERSHIPS

• Utah Motorsports Campus, a racing and motorsports venue in Grantsville, has announced a long-term partnership with Burt Brothers Tire and Service. The company will take on naming rights for the Motorsports Playground as part of the collaboration. The Utah Motorsports Campus will undergo a name change in the near future, it said. Burt Brothers will have exclusive access to UMC’s network of sponsors, partners, and automotive industry professionals. Fans attending UMC events will benefit from special promotions, giveaways, and interactive experiences with Burt Brothers and get exclusive offers on tire services, automotive repairs and custom packages through their Burt Brothers locations. UMC will host exclusive Burt Brothers-branded events, such as tire safety clinics, performance driving workshops, and sponsorship opportunities for race teams.
• Terrestrial Energy Inc., a North Carolina-based developer of small modular nuclear power plants, and EnergySolutions, a Salt Lake City-based supplier of environmental remediation services to the nuclear energy industry and owner of brownfield sites for new nuclear deployment, have entered into a memorandum of understanding to collaborate on the siting and deployment of Integral Molten Salt Reactor plants at EnergySolutions-owned sites. In June 2023, EnergySolutions announced a study of former nuclear sites acquired by the company to determine potential locations for new nuclear generation. Terrestrial Energy and EnergySolutions have assessed the sites in North America as potential locations for IMSR plants to benefit from accelerated deployment schedules. Under the terms of this MOU, the parties have agreed to evaluate these sites and select the most suitable.

PHILANTHROPY

• On Dec. 4, Walmart stores in Utah began a series of holiday shopping events for local children and veterans in need. Twenty-six shopping events through Dec. 22 include “Shop with a Jock,” “Shop with a Cop,” “Shop with the Fire Department” and “Toys for Tots.” Utah Jazz player Walker Kessler recently treated 10 young members of the Midvale Boys & Girls Club to a holiday shopping spree at Walmart in West Jordan. The youngsters received gift cards to shop for anything they chose across the store.
• The University of Utah’s Office of Student Engagement & Belonging has created the “In A Pinch Basic Needs Initiative,” aimed at supporting UofU students’ ability to fulfill their fundamental needs, encompassing access to food, housing, funding, mental health and family resources. The pantry is on the first floor of the Spencer Fox Eccles Business Building and provides free access to non-perishable food, hygiene products and wellness essentials. A recent survey revealed that one in four student respondents at the David Eccles School of Business has experienced food insecurity or lacked access to essential items. Three months into the fall 2024 semester, In A Pinch distributed nearly 11,000 items, which is more than were distributed in total the past academic year. Cyprus Credit Union and C.R. England have provided generous support to allow In A Pinch to expand and meet the increased need of students, but the initiative is asking for help in restocking the pantry. Details are available by contacting Sophie Stout, associate director of student engagement and belonging, undergraduate programs, at sophie.stout@eccles.utah.edu.
• A total of 107 locations worldwide have served as sites hosting the “Light the World Giving Machine,” a vending machine in which every purchase helps a person in need. Sponsored by The Church of Jesus Christ of Latter-day Saints, the machines offered items ranging in price from $5 to $100 and covered a wide variety of needs, from basic necessities like clothing and school supplies to life-saving medicine and livestock that can sustain families. One such location was at Christmas Village in the Ogden Amphitheater, where the machine was in place through Dec. 15. Donations also can be made at lighttheworld.org/give. Local nonprofit beneficiaries of the Ogden Giving Machine this year include Catholic Community Services, YCC Family Crisis Center, Midtown Community Health, Ogden School Foundation and Weber School Foundation.
• D.L. Evans Bank, based in Idaho, has announced the second round of the 2024 Employee Directed Donation Initiative. The donation initiative gives bank employees an opportunity to nominate their favorite nonprofit organizations in Idaho and Utah. Each organization will receive a $2,500 donation from the bank, plus a 5 percent bonus that will be added in the name of the employee who submitted the application, for a total of $2,625. A donation in that amount will be made to Cache Valley Humanitarian Center. David Mumm, the bank’s vice president senior commercial loan officer and branch manager at the Logan branch, nominated the organization to receive a donation. The Cache Valley Humanitarian Center aims to address unmet needs in the community by collaborating with nonprofits and school districts. It partners with 26 local organizations and three school districts to distribute items like back-to-school kits, hygiene kits, sleeping mats for the homeless, winter clothing, and books for a Navajo community library to community members in need.
• Road to Success, a program of Success in Education, recently hosted a literacy celebration at Washington Elementary School in Salt Lake City. The assembly featured guest read-a-longs with inspiring leaders and athletes; giveaways, including season tickets to Utah gymnastics and aquarium passes; and each student receiving a new scholastic book for their library. Among the speakers and special guests were the University of Utah’s “Red Rocks” gymnasts; Kathi Garff, founder of Road to Success; and representatives from sponsors Ken Garff, Ally Bank, Mountain America Credit Union, Zions Bank, my529 and the George S. and Dolores Doré Eccles Foundation.
• USANA Philippines, a vitamin and dietary supplements company, has donated 200 recycled plastic chairs to the students of Pulilan Central School as part of USANA’s broader commitment to sustainability and community empowerment. The donation highlights their efforts to reduce carbon emissions while actively supporting local education and fostering environmental awareness, the company said. The chairs were made from recycled plastics and USANA supplement bottles. The chairs were byproducts of USANA’s internal campaign among its employees and associates that encouraged them to donate their used plastics and USANA product bottles.
• Gabb, a Lehi-provider of safe technology for children, recently held its second “Kid CEO for the Day” by handing the reins of the company to 9-year-old Nova Evenson of Naples, Florida. Evenson led the monthly companywide meeting where the department leads shared with Nova Gabb’s 2024 reports for her approval. She also led meetings with Gabb executives, product brainstorming sessions, and discussions on safe tech for kids. A lover of step-tracking with her Gabb Watch, she challenged the team to increase their daily steps through “walking meetings.”

REAL ESTATE

• Cypress West Partners, a California-based health care real estate owner and operator, in joint venture with TPG Angelo Gordon, a California-based credit and real estate investing platform within TPG, has acquired Renaissance Medical Center in Bountiful. Terms were not disclosed. The 112,192-square-foot medical outpatient building is at 1551 S. Renaissance Towne Drive and is anchored by Mountain West Surgical Center. The surgical center is complemented by eight other medical specialties and services, including orthopedics, physical therapy, imaging, spine and urology. Earlier this year, Cypress West and TPG Angelo Gordon announced a two-year programmatic joint venture seeking to acquire up to $300 million in medical office assets across West Coast and Sunbelt markets. Newmark Healthcare Capital Markets advised Cypress West Partners and arranged the credit facility on behalf of the joint venture.

RESTAURANTS

• Spencer’s For Steaks & Chops, located in the Hilton Salt Lake City Center Downtown, has named Jared Maish as executive chef for the kitchen and hotel. Maish has been with the Spencer’s For Steaks & Chops back-of-house team for 2 and a half years. He started in the industry at age 13.
• Layne’s Chicken Fingers will open its first Utah location this month at 846 W. 1700 S., Clearfield. The company plans to open an additional 15 locations throughout the Greater Salt Lake City market.

SERVICES

• Savage Co., a Midvale-based provider of supply chain infrastructure and solutions, has hired Josh Anders as chief financial officer. Anders has served in financial leadership roles in both public and privately held companies and has extensive energy industry experience. Prior to joining Savage, Anders was president and CFO at Sage Natural Resources LLC, CFO at Samson Resources II LLC, executive vice president and CFO at Adams Resources & Energy Inc., vice president and controller at Southwestern Energy Co., and vice president of business development and treasurer at Beryl Oil and Gas LP.