Industry Briefs 1-6-25

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ACCOUNTING

• HCVT, a Los Angeles-based CPA firm, has a new office at 650 Main in Salt Lake City. It said the city’s growing and vibrant business base, experienced workforce, and the presence of world-class accounting programs at local universities are the reasons for the expansion. The office ultimately will accommodate up to 50 employees. Since 2014, the firm has operated an office in Park City and an office co-working space in Salt Lake City since 2023. HCVT currently has 12 full-time employees in Utah.

ARTS

• The Utah Museum of Contemporary Art, in association with Smith’s, is seeking local artists interested in creating a large-scale indoor artwork for the Smith’s in Bluffdale. The deadline to apply is Jan. 31. Entry is available to all artists living in Utah, with special preference to artists who have a connection to the Bluffdale community. There is no application fee to enter, and up to three artists asked to submit a proposal will receive a $300 stipend. The selected artist will be paid $10,000. The mural installation deadline is July 25, 2025. Application can be made by submitting a brief artist bio and five images of previous artwork in PDF format (no more than 10MB) to jared.steffensen@utahmoca.org.

ASSOCIATIONS

• The Salt Lake Chamber has launched the 2025 National Civics Bee, an initiative aimed at encouraging more young Americans to engage in civics and contribute to their communities. Hosted in partnership with the Civic Trust of the U.S. Chamber of Commerce Foundation, the competition in Utah will inspire middle schoolers to become better informed about American democracy, to engage respectfully and constructively in the community, and to build greater trust in others and institutions. The Salt Lake Chamber will host the National Civics Bee Utah State Finals in the summer of 2025. Finalists from local competitions across Utah will be invited to take part in the state-level competition. Students will participate in a live quiz event and answer questions from judges to test their civic knowledge, with the winner advancing to Washington, D.C., to compete in the national championship in the fall of 2025.

CONSTRUCTION

• YESCO, a Salt Lake City-based sign-producing company, has completed the retrofit of the Harmon Corner building’s LED wall, a digital display at a Las Vegas Strip intersection. The new wall is part of a renovation of the Harmon Corner building that includes new retail suites and a new marketplace at street level. The sign was the largest of its type in the world in 2012 when the building opened. The sign is 60 feet high and 306 feet wide, equivalent to 27 standard billboards. The screen is 18,550 square feet. It was commissioned by BPS Harmon LLC and Branded Cities. YESCO began work on the project in February 2024.

ECONOMIC INDICATORS

• Utah is ranked No. 6 on a list of states with the largest increase in new small businesses, compiled by OnDeck. The rate was 4.56 percent. Idaho led states, at 6.55 percent. Utahns filed more than 71,000 new-business applications in 2023, or about 20.9 for every 1,000 residents. Among medium-sized cities, Provo/Orem is No. 9, with a 4.71 percent increase in small businesses. Boise led that category, at 7.83 percent. Among small cities, St. George is No. 2, with a rate of 6.59 percent. LaGrange, Georgia, at 19.85 percent, led that category. Among large metros, Salt Lake City is No. 22, with a rate of 3.13 percent. Orlando/Kissimmee/Sanford in Florida led the category with a 6.2 percent rate. Summit County had Utah’s highest rate, at 34.1 per 1,000 residents, while the national average was 16.3. Salt Lake County had 22.6. Details are at https://www.ondeck.com/resources/best-place-to-start-a-small-business.
• More than half of surveyed Utahns (53 percent) indicate that they planned to “regift” this holiday season, according to BadCredit.org. That equates to more than 1.4 million regifters in the state, with the regifting/reselling economy being worth nearly $147.5 million. Utah’s percentage is No. 5 among states. Nationally, 43 percent of Americans are planning to regift or resell unwanted presents, equal to $11 billion. California has the largest regifting economy, at $1.37 billion. Rhode Island has the highest percentage of regifters, at 83 percent. Delaware has the lowest, at 14 percent. Details are at https://www.badcredit.org/studies/many-americans-resell-or-regift-christmas-presents/.
• Utah is tied with Arizona and Nevada for having the fewest grocery stores per 10,000 residents and is ranked No. 5 among states for residents spending the least amount of their income on groceries, according to travel company Upgraded Points. Utah, Arizona and Nevada have 1.1 stores per 10,000 residents. New York has the highest density, with 4.3 stores per 10,000 residents. Utahns spend 11.8 percent of their income on groceries. New Hampshire’s figure is lowest, at 10.7 percent. The highest percentage is in Mississippi, at 21.1 percent. Hawaii leads a list of states seeing the largest spikes in grocery spending during the holiday season, at 29.8 percent. Details are at https://upgradedpoints.com/news/grocery-store-spending-by-state/.
• Homeowners in Salt Lake City pay a median of $2,809 in property taxes each year, with an effective rate of 0.477 percent for owner-occupied homes, according to a report from Construction Coverage, an online publisher of construction industry research reports. The report indicates that nationally, revenue from property taxes rose 27 percent from 2019 to 2023, adding $165 billion to state and local budgets, which is more than any other tax category. Illinois’ rate tops the list, at 1.825 percent. The report, which includes county-level data for over 800 counties, over 600 cities and all 50 states, is available at https://constructioncoverage.com/research/average-property-tax-by-state-county-city.

EDUCATION

• Weber State University recently graduated its first cohort of physician assistants, adding 19 new clinicians to the workforce. The Dr. Ezekiel R. Dumke College of Health Professions launched the program in January 2023. The PA program focuses on primary care and adult hospital medicine. Graduates of the program are eligible for national board certification and, once certified, can apply for a license to practice medicine. The PA program accepts 20 new students each year.

GOVERNMENT

• Salt Lake County Mayor Jenny Wilson has appointed Kersten Swinyard as the economic development director for the Salt Lake County Office of Regional Development. Swinyard has experience in leadership, expertise and commitment to advancing regional economic growth, most recently serving three years in the county’s Economic Development Division. As senior economic development manager, she evaluated development finance project proposals for alignment with policy goals, financing gaps, and real estate market integration. She managed performance tracking for over 80 active Tax Increment Financing projects and promoted policy and legislative advancements to strengthen the county’s role in the place-based investments. She also oversaw an Environmental Protection Agency-funded assessment grant and two revolving loan funds to support brownfields property remediation. Swinyard’s education includes earning a bachelor’s degree from the University of Utah.
• Salt Lake County has completed the purchase of the former Overstock.com headquarters in Midvale for $52 million. The 257,777-square-foot, eight-year-old office complex parcel at 799 Coliseum Way will eventually become the county’s government center. The county’s current office complex at 2100 South in Salt Lake City is 40 years old, and costs to maintain and renovate it are estimated to top $225 million. The move to the new complex will likely take place in 2026. Over the next year, the county will enter a review process regarding the next phase of the site of the current government center.
• The U.S. Department of Housing and Urban Development has announced the award of $225 million in competitive grant funding for 17 awardees with proposed projects across 26 states through the Preservation and Reinvestment Initiative for Community Enhancement program. The grantees include ROC USA LLC, which will receive more than $38.1 million for projects in 12 states, including Utah. PRICE provides funding to preserve and revitalize manufactured housing and manufactured housing communities across the country, including rural, suburban, urban, tribal and disaster-impacted areas.
• The U.S. Environmental Protection Agency has announced a settlement with Pacific Coast Capital Investors LLC, the owner of North Aspen Apartments in Salt Lake City, for allegedly failing to notify tenants of lead-based paint hazards on the property. The company agreed to pay a $74,082 penalty and modified its lead disclosure practices to settle allegations that it violated the Residential Lead-Based Paint Hazard Reduction Act, Title X. The requirement ensures homebuyers and renters of most housing built before 1978 have the right to know whether lead-based paint and associated hazards are present before signing a contract or lease. The settlement resolves EPA’s allegations against Pacific Coast Capital. The EPA said it will continue to assess compliance associated with the company’s properties in Salt Lake City and pursue enforcement action when appropriate.
• The Utah Division of Outdoor Recreation has awarded more than $20 million to 31 outdoor recreation projects across Utah. The funding was made possible through legislative appropriations and the Outdoor Adventure Infrastructure Fund. The awards include $3 million for the Beas-Lewis Campground project; $2 million for connecting trails on Sand Mountain; $1.7 million for the Lucerne Campground restoration; $1.3 million for the Kent’s Lake Campground improvements; $1.1 million for the Mud Springs Trail System; $1 million each for Pineview Reservoir Phase 3, 2025 Port Ramp reconstruction, and Utah Avalanche Center Machine Learning Recreation Study; $518,000 to restore safe access to upper American Fork Canyon; $500,000 for the Ure Ranch Recreation Area land acquisition; and $400,000 for the North Wash Boat Ramp, Cataract Canyon. The division awarded over $15 million to 100 infrastructure projects throughout the state during the 2024 cycle earlier this year.

HOSPITALITY

• Grand America Hotels & Resorts has promoted Davy Ratchford to chief operating officer while continuing his general manager role at Snowbasin Resort. The resort is a member of the Grand America Hotels and Resorts family. Ratchford joined Snowbasin in 2018. He joined the ski industry after leading marketing for Real Salt Lake during their run to an MLS Cup and went on to hold senior leadership positions at Vail Mountain, Northstar Resort and Park City Mountain. He serves on the board of directors for the National Ski Area Association, Ski Utah and Visit Ogden and serves on the Ski Area Management Future Leader Council.

INVESTMENTS

• Chargezoom, a Salt Lake City-based company focused on a platform for AI-powered billing and integrated payments, has raised $11.5 million in Series A funding, led by the Kickstart Fund, also based in Salt Lake City. New investors include Motley Fool Ventures, Early Light Ventures, Frazier VC and Adly, alongside continued support from SaaS Venture Capital, Stout Street Capital and Okapi Venture Capital.
• Nomyx, a Salt Lake City-based digital asset management company, has completed a $1.75 million seed round, led by RevRoad Capital. The round was oversubscribed by nearly 20 percent. Stellar Foundation and several angel investors also participated in the round. Beyond the seed round, Nomyx secured funding from Plug and Play Tech Center. Jeff Martin, managing director at RevRoad Capital, will join Nomxy’s board of directors.

LAW

• Jackson Lewis PC has hired Jascha K. Clark as a principal and office litigation manager at its Salt Lake City office. Clark has more than a decade of experience representing businesses of all sizes through every stage of litigation, handling complex commercial, general civil and employment matters. In addition to his litigation practice, he advises business owners, in-house counsel and human resources professionals on compliance matters related to leave and accommodation; diversity, equity and inclusion; anti-harassment and retaliation; discipline and termination; reductions in force; and wage and hour issues. He is also experienced in helping clients with the development of employment-related policies. His education includes a B.S. from the University of Utah.
• Spencer Fane LLP has hired Spencer Topham as a partner in the Corporate and Business Transactions practice group in the firm’s Salt Lake City office. Topham advises private equity sponsors, individuals and businesses on a spectrum of business transactions, including strategic mergers and acquisitions, joint ventures, debt and equity restructurings, and leveraged buyouts. He is also an advisor to brands and content creators for negotiating influencer management, marketing and related agreements. In addition to business transactions, Topham provides counsel on a range of transactional matters, including commercial agreements and day-to-day operational issues. Topham’s education includes undergraduate studies at the University of Utah.

NONPROFITS

• Sutherland Institute, a nonprofit, nonpartisan policy and educational institution, has announced that A. Scott Anderson has accepted a seat on its board of directors. Anderson is a former president and CEO of Zions Bank, serving more than 25 years as its top leader. He also has served on numerous boards in Utah and beyond. Anderson is the eighth member of Sutherland board.
• Children Miracle Network Hospitals, based in Salt Lake City, has announced three new board members and the transition of board leadership. The new board chair is Kimberly Cripe, president and CEO of CHOC (Children’s Hospital of Orange County). New board members are Shawn Johnson East, Jana Pado and Alicia Schulhof. East is an Olympic gold medalist who retired from gymnastics in 2012 and has become a bestselling author, broadcast personality, podcast host and entrepreneur. Pado is a fundraising leader with over 20 years of experience. She serves as the vice president and chief development officer at Dayton Children’s Hospital. Schulhof is the president of Johns Hopkins All Children’s Hospital. She has over 20 years of experience in healthcare. The new Executive Committee alongside Cripe will include Kane Calamari, senior vice president/chief human resources pfficer with Ace Hardware Corp. and president of Ace Foundation; Jenny Love Meyer, executive vice president and chief culture officer with Love’s Travel Stop and Country Stores; Elias Neujhar, president and CEO of Children’s Hospital of Richmond at Virginia Commonwealth University; and Barbara Joers, president and CEO of Gillette Children’s Specialty Healthcare. Outgoing board members are Joers, the chair; Sue Doliner, vice president of development and chief development officer of MaineHealth, Maine Medical Center and Barbara Bush Children’s Hospital; and Rick Merrill, president and CEO of Cook Children’s Healthcare System. Children’s Miracle Network Hospitals raises funds for 170 children’s hospitals that support the health of 10 million kids each year across the U.S. and Canada.
• Seven Canyons Trust, a nonprofit organization dedicated to restoring and revitalizing the seven canyon creeks of Utah’s Wasatch Range, has appointed Ronnie Pessetto as executive director. Pessetto succeeds founding director Brian Tonetti, who led the trust for 10 years.

PARTNERSHIPS

• Canary Speech Inc., a Provo-based company focused on AI-driven vocal biomarker technology, and Prism Care Inc., a Texas-based provider of extended care management solutions, have announced a strategic partnership to enhance patient care through vocal biomarker technology. Together, the companies aim to set new standards for managing mental health and cognitive conditions with tools that seamlessly integrate into existing provider workflows, enabling faster, data-driven decisions for providers and their patients. Prism Care will integrate vocal biomarker analysis into its extended care system, enhancing its ability to deliver superior patient outcomes.

PHILANTHROPY

• KeyBank has awarded a $225,000 grant to NeighborWorks Salt Lake, nonprofit organization that strengthens community neighborhoods through housing, resident leadership, youth and economic development opportunities. The funds will bolster the CareerWorks program, which creates medical career readiness employment opportunities for diverse populations in the Salt Lake community.
• DoTerra, a Pleasant Grove-based company focused on essential oils and wellness products, has partnered with global humanitarian organization Save the Children to provide thousands of wellness kits to support children and families across the United States. DoTerra recently supplied kits for Save the Children’s hurricane response efforts, in coordination with Save the Children ambassador Cobie Smulders. The collaboration was to deliver 59,175 kits to Save the Children’s distribution sites by the end of 2024. Through Save the Children’s network, the wellness kits are reaching social service centers, border shelters, Head Start centers, schools, food banks and community pantries.

REAL ESTATE

• Century Communities Inc., a Colorado-based homebuilder, has had the grand opening of a model home at Pioneer Meadows in Lehi. Single-family homes with two-story floor plans and three to six bedrooms will be available. Century operates in 17 states and over 45 markets across the U.S.

RECOGNITIONS

• BZI, a Kanarraville-based company focused on innovations in the construction and steel industries, has been awarded “Inc. Best in Business 2024”for the construction industry. The award recognizes the impact and significance of the BZI Innovation Park for its innovation, inspiration and positive impact on the regions and industry segments it serves. The 820-acre BZI Innovation Park aims to improve the transportation of raw materials and allow for more effective and efficient processing of goods and products for global companies. Target industries include construction manufacturing, aerospace and advanced manufacturing, and warehouse distribution. Founded in 2016, the BZI group of companies operates through three primary organizations: Building Zone Industries LLC, responsible for steel erection; BZI Steel LLC, which specializes in steel fabrication; and Innovatech LLC. specializing in designing, engineering and manufacturing innovative construction equipment and processes.
• Fifteen students from Brigham Young Universityhave been nominated for the Television Academy Foundation’s 44th College Television Awards. The awards program recognizes and rewards excellence in student-produced programs from colleges across the country. The foundation was established in 1959 as the charitable arm of the Television Academy. BYU received a total of four nominations, the most nominations for a university for the 2025 awards. Nominees were selected from over 200 entries from colleges nationwide by Television Academy members. Winners will be announced April 5. In the Animation Series category, the BYU nominee is “Student Accomplice,” with Brielle Hansen, producer, and Spencer Baird, director and writer. BYU earned all three nominations in the Commercial, PSA or Promo category. “Feel Safe In Your Skin” is by Lauren Holt and Danny White, directors and writers; and Riley Rawson and Todd Jackson, producers. “Manumalo (Victory) – Nike” is by Danny White and Alex Galea’i, producers and writers; Spencer Nelson, director and producer; and Aubry Mackin, Parker McDermott and Evan Jensen, producers. “Welcome to the W” is by Mia Shumway, director and writer; Annie Ebert, director and producer; and Ben Thornock, director.

RETAIL

• The Deer Valley/Helly Hansen store has opened in the lobby of the Grand Hyatt Deer Valley. The store features ski gear and branded apparel, including Deer Valley-branded merchandise, apparel, blankets, accessories and glassware. Specialty food mixes crafted by Deer Valley’s chefs will also be available.

SCHOLARSHIPS

• Saras AI Institute, an AI-exclusive higher education institute launched in October, has introduced a scholarship contest for Utah-based students passionate about artificial intelligence. The contest offers one full-ride scholarship for an associate degree in AI and two half-ride scholarships for runners-up. The contest is open to current and prospective students. Submissions are due by Jan. 20, with recipients announced shortly thereafter. Details are at https://www.sarasai.org/essay-contest-apply.

TECHNOLOGY

• Rock Mountain Technology, an Orem-based provider of managed IT services for over 15 years, has rebranded to Tech Legion. Th company said it “reflects the company’s evolution and its ambitious plans to expand beyond Utah into new markets across the Intermountain West and beyond.” As part of the rebrand, the company has launched a new website at www.techlegion.com.