Industry Briefs 2-17-25

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.

BANKING

• TAB Bank, based in Ogden, has announced that it provided nearly 300 companies with more than $57 million in funding in the fourth quarter of 2024. The financing includes factoring, asset-based and equipment loans, small-business lines of credit and more for companies in transportation, manufacturing and distribution, e-commerce, maintenance, logistics and other industries. For more than 25 years, TAB Bank’s core business has been financing over-the-road truckers and the broader transportation industry. In the fourth quarter, it provided term loans and lines of credit ranging from $40,000 to $300,000 to transportation and logistics companies to help create consistent operational cash flow.

CONSTRUCTION

• 4C Group, a Park City-based full-service luxury home building firm, recently celebrated the grand opening of its new Collaboration Center in Park City. The 12,000-square-foot facility is a mixed-use headquarters and showroom that brings the company’s teams together in a single collaborative environment. The main floor serves as the primary client-facing space and houses the largest of four conference rooms. Multiple breakout rooms on all levels are designed for flexible collaborative interactions to encourage an integrated, project-based approach. The top level houses the firm’s executive and finance teams.

CONTESTS

• Nominations are being accepted until Feb. 23 for the Governor’s Medal for Science and Technology, which recognizes the distinguished service, significant achievements, and positive economic impact of individuals and companies to the state of Utah and beyond in science and technology. Nominations are accepted in one of three categories: Academic/Research, Education (K-12) and Industry (Individual or Company). Winners will be announced in the spring. Details are at https://business.utah.gov/innovation/governors-science-medals/.
• Applications are being accepted until Feb. 20 for the Tim Draper Utah Entrepreneur Challenge, a statewide business-model competition for college students. They will compete for $75,000 in cash and prizes. All students in Utah from participating colleges and universities are welcome to apply. The challenge is managed by the Lassonde Entrepreneur Institute at the University of Utah. Sponsors include Tim Draper, a venture capitalist. Details are at https://lassonde.utah.edu/uec.

CORPORATE

• ArbiterSports, a Sandy-based company focused on athletic and event management for over 40 years, has announced a new brand identity, including a rebranding to Arbiter. The company said the name “reflects the broader relevance of its products and services, extending their impact across K-12 beyond just athletics.” The rebrand also includes a first-ever logo, a new color palette and an updated website.
• Maverik — Adventure’s First Stop has completed the rebranding of all Wyoming Kum & Go locations, a process that began last August and involved nine stores. It is part of a rebranding of 133 stores. Rebranding of 40 Oklahoma stores, which began in October, is on track for completion in March. Fifty-three Arkansas rebrands are planned, with conclusion this fall. Maverik also confirms plans to begin rebranding 54 Missouri Kum & Go locations in March and seven Michigan stores later this spring. These rebrands are expected to be complete by this summer. In 2023, Maverik acquired Kum & Go and together the two brands serve customers in over 840 locations across 20 states.

DIVIDENDS

• The board of directors of LifeVantage Corp. has approved a quarterly cash dividend of 4 cents per share of common stock. The dividend will be paid March 17 to stockholders of record March 3. Lehi-based LifeVantage offers health and wellness products.

ECONOMIC INDICATORS

• Teachers, postal workers and EMTs lead Utah as the most underpaid among public-sector workers, according to a poll by online education company Test Prep Insight. The pay increases Utahns believe are warranted are teachers, $34,863; postal workers, $16,400; EMTs, $15,450; public transportation drivers, $12,100; park rangers, $8,450; firefighters, $7,272.73; and sanitation, $6,575. Details are at https://testprepinsight.com/resources/survey-americans-want-teachers-to-earn-17k-more/.
• Three Utah coffee shops are ranked on a list of best in the country for remote work, compiled by financial media company MarketBeat.com and based on a survey. They are No. 86 Publik Coffee Roasters, Salt Lake City; No. 133 Rugged Grounds, Provo; and No. 140 Azúcar Café, West Valley City. The top-ranked shop is Bad Bunnies Coffee in Charleston, South Carolina. Details are at https://www.marketbeat.com/originals/survey-reveals-top-coffee-shops-for-remote-workers-and-business-deals-2025/.
• Franck’s in Holladay is ranked No. 98 on a list of “America’s Top Hidden Gem Restaurants for Valentine’s Day,” compiled by Zinfandel Grille and based on a survey. The top-ranked location nationally is The Moon and Turtle in Hilo, Hawaii. Details are at https://zinfandelgrille.com/2025/02/03/valentines-day-table-treasures/.
• Salt Lake City International Airport is ranked No. 70 on a list of “America’s Dating Hotspots,” compiled by DatingAdvice and based on a survey of single people asking the most likely places to meet a potential partner. The top-ranked romantic airport is Palm Beach International in West Palm Beach. Details are at https://www.datingadvice.com/studies/love-is-in-the-airport-survey.
• Scenic Byway 12 (Panguitch to Torrey) is ranked No. 3 on a list of “Top Winter Road Trips” in the U.S., compiled by Ultimate Toys, based on a survey of travelers. The top-ranked location overall is Great Smoky Mountains Loop (Cherokee to Fontana Village) in North Carolina. Details are at https://www.ultimatetoys.com/top-100-winter-road-trips/.
• One in 10 single Utah men admit to involvement in charitable work to boost their dating profiles, according to a survey by DatingNews. Their top cause is helping to build homes, followed by volunteering at animal shelters, wildlife causes and sanctuary volunteering. The highest percentage is about 50 percent in Hawaii. The lowest is 4 percent in Nevada. Details are at https://www.datingnews.com/industry-trends/philanthropy-dating-study/.

ENVIRONMENT

• Utah Clean Energy, with support from the Utah Clean Air Partnership (UCAIR), is spearheading efforts to spur innovation across the state by empowering builders to construct ultra-low and even zero-emission homes and buildings. Through a grant, Utah Clean Energy will provide “mini grants” to residential and commercial developers or contractors in Utah County. These funds will help offset incremental costs associated with updating construction plans for up to three homes or commercial buildings to meet energy-efficient and emission-free standards. Once complete, the projects will serve as showcase buildings that demonstrate the viability of low- and zero-emission construction.

GOVERNMENT

• Salt Lake City Mayor Erin Mendenhall and the Salt Lake City Sustainability Department have opened applications for the SLC Food Microgrant program. In its third year, the program aims to increase Salt Lakers’ access to fresh, healthy, affordable and culturally relevant food. Salt Lakers may apply for grants of $250 to grow or raise their own food. Community grants for organizations are available up to $5,000. The total budget of $50,000 was approved by the city council for fiscal year 2025. The grant, open to individuals, local businesses and certain community organizations in Salt Lake City, is designed to support community-led projects that follow recommendations from the city’s Resident Food Equity Advisors program. In 2024, over 60 grants were awarded to Salt Lake City individuals and 10 grants to community groups. Applications are available and accepted in any language. Individuals and organizations may submit applications through the online form or a variety of other methods, including a paper form, phone call, video chat, in-person meeting, or an audio or video recording. Applications are open through March 3 at noon.
• The Utah Division of Outdoor Recreation has announced that its Off-Highway Vehicle Recreation (OHVR) Grant spring cycle is now open. Applications will be accepted through March 31 at 5 p.m. at recreation.utah.gov/grants. The OHVR grant is available to cities, counties, federal agencies and OHV nonprofit organizations incorporated in Utah. It provides critical assistance to sustain, enhance and improve motorized recreation in the state. Available funds for each category are trail work, $1,500-$350,000; access protection, $1,500-$350,000; education, $1,500-$350,000; search and rescue (SAR), $1,500-$150,000; snowmobile, $1,500-$150,000; OHV tourism, $1,000-$50,000; and year-round OHV land acquisition, $1,000-$1 million.

HEALTH CARE

• Tellica Imaging, an Intermountain Health company, has opened a new imaging clinic in Spanish Fork. It is the seventh Tellica Imaging location in Utah. The new center offers advanced imaging (MRI and CT scans), with a maximum out-of-pocket cost of $400 for a CT scan and $600 for an MRI.

INDOOR ENTERTAINMENT

• JLL has been selected by The Picklr, an indoor pickleball franchise, as its master broker for its international expansion. The initiative will bring The Picklr to new international markets, starting with Canada. The first Canadian location is set to open in 2025, with plans for 65 locations across Canada. JLL Senior Managing Director David Nixon, Principal Broker Brandon Rawlins and Senior Associate Bronson Rawlins will serve as the master brokers on behalf of The Picklr.
• Urban Air Adventure Park, part of Unleashed Brands, has completed a lease for a new location in Fort Union. The new park is expected to open in 2025. Spanning over 40,000 square feet, the park will feature an array of attractions, including Sky Rider, slides, air court, ropes course, climbing walls, dodgeball, trampolines and more. It will have about 70 employees. Founded in 2011, Urban Air has more than 350 parks open or under development.

INVESTMENTS

• Jump, a Salt Lake City-based provider of artificial intelligence solutions for financial advisors and other financial services providers, has completed a $20 million Series A funding round, led by Battery Ventures, with additional participation from Citi Ventures and existing investors Sorenson Capital and Pelion Ventures Partners. The firm has raised latest funding will allow it to accelerate product innovation, building out a suite of advisor-specific AI workflows and agentic AI work outputs, as well as expand sales and support to meet intense market demand.

PARTNERSHIPS

• Tasso Inc.Tasso Inc, a Seattle-based provider of clinical-grade blood collection solutions, and ARUP Laboratories, a Salt Lake City-based nonprofit clinical and academic reference laboratory, have entered into a partnership to develop and operationalize high-quality, at-home, blood testing services to support clinical research. To launch the partnership, ARUP has validated rheumatoid factor (RF), high-sensitivity C-reactive protein (hsCRP), creatinine, and high-sensitivity DNA testing using capillary blood microsamples collected with Tasso devices. Additional assays and applications will be made available throughout 2025 and beyond as validation protocols are completed. The tests will be powered by Tasso’s end-to-end services platform that includes novel shipping solutions and digital patient-facing solutions to ensure successful blood collection and logistics.

PHILANTHROPY

• Global financial institution Goldman Sachs has announced 31 Community Development grant recipients, over half of which are located in Utah. The grants range from $25,000 to over $1 million, for a total of nearly $3 million for nonprofits in Utah. Recipient organizations were selected based on how they are helping to address critical needs throughout the state across affordable housing, community services, small-business development and neighborhood revitalization and evaluated based on criteria including innovation, impact and scalability. Utah organizations receiving grant funds are Enterprise Community Partners Inc., United Way of Salt Lake, NeighborWorks Salt Lake, Community Development Corporation of Utah, Urban Indian Center of Salt Lake, Suazo Business Center, YWCA Utah, Catholic Community Services of Utah, Neighborhood House Association, Columbus Foundation Inc., Giv Communities, GK Folks Foundation, Boys & Girls Clubs of Greater Salt Lake, Guadalupe School and Perpetual Housing Fund.

RECOGNITIONS

• Joseph Grenny, chairman of the board of The Other Side Academy, has been named the recipient of the seventh annual Lane Beattie Utah Community Builder Award, by Utah Community Builders, the nonprofit foundation of the Salt Lake Chamber. The award recognizes an inspirational person who has gone above and beyond the call of duty to address critical community needs. Grenny is a New York Times bestselling author and co-founder of Crucial Learning, a training and organization development firm. The Other Side Academy is a 2.5-year school for those with long histories of crime, addiction and homelessness. In 2021, he and leaders of The Other Side Academy co-founded The Other Side Village, a 430-home community for those who are chronically homeless based on principles of self-reliance and peer accountability. Grenny also is co-founder of Unitus Labs, helping the world’s poorest achieve self-reliance. Grenny will be formally recognized during the “Giant in our City” event April 24 at the Grand America Hotel, where Lisa Eccles, president and COO of the Geroge S. and Dolores Doré Eccles Foundation, will be honored as the 46th Giant in our City.
• The top 20 teams have been announced for the Tim Draper High School Utah Entrepreneur Challenge, a business-idea competition open to all high school students across Utah, ages 14-18. They are competing for $30,000 in cash and scholarships. The top 20 were selected from over 220 applications. They advance to the final stage of the competition, which is managed by the Lassonde Entrepreneur Institute, a division of the David Eccles School of Business at the University of Utah, and sponsored by Tim Draper, a venture capitalist. The public is invited to vote online for the best idea, with voting open through Feb. 28 at https://lassonde.utah.edu/hsuec/vote2025. A public showcase and awards ceremony will take place March 1, 2-3:30 p.m., at Lassonde Studios at the UofU. In alphabetical order, the top 20 teams are AI Animation Studio (Other), AI Spy (Rowland Hall-St. Mark’s), Athlete In (Beehive Science & Technology Academy), Backpack Banner (Other), Buds & Blooms (American Fork High School), GetGigs (Rowland Hall-St. Mark’s), Glow With The Flow (Utah Connections Academy), GreenDream (Skyline High School), Gym Bros (Park City High School), Kotter Data (Richfield High School), LJ Custom Boards (American Fork High School), LQ Junk Removal (Park City High School), Microplastic Purifier (Hillcrest High School), Robotica Airways (Syracuse High School), Sava’s Home Bakery (Itineris Early College High School), SoundSense (Juan Diego Catholic High School), Sproutify (Skyline High School), Systemized Detailing (Northridge High School), The Windshield Protector (Park City High School) and Toga (Park City High School).
• Big-D Construction, based in Salt Lake City, has been recognized as a “Certified Business of Kindness”by One Kind Act a Day, a national initiative dedicated to fostering a culture of kindness in communities, businesses and organizations. The designation highlights organizations that prioritize kindness as a core value, fostering positive workplace cultures and making meaningful contributions to their communities. Through its collaboration with One Kind Act a Day, Big-D Construction has actively promoted kindness within the company by incorporating initiatives that support employees, clients and community partners. This includes co-branded messaging on construction sites, vehicles and office spaces to reinforce the importance of daily acts of kindness, as well as internal programs designed to inspire generosity and service.