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BANKING

Len Williams, president and CEO of Altabank, has been appointed to the board of directors for the Salt Lake City branch of the Federal Reserve Bank of San Francisco. His three-year appointment was made by the San Francisco Fed’s board of directors. Williams joined Altabank as president and CEO in 2017, when the organization was known as People’s Intermountain Bank. He is also president and chief executive officer of Altabancorp, the holding company for Altabank. In prior roles, he served as president and CEO of Home Federal Bank, in Nampa, Idaho, and also held executive positions at Fifth Third Bank and KeyBank. The Federal Reserve Bank of San Francisco, with three branch offices, and a cash processing office in Phoenix, provides wholesale banking services to financial institutions throughout the nine western states.

 

Bank of Utah, Ogden, has promoted Kathy Robles to senior vice president of mortgage operations. Robles will be responsible for all mortgage operations bank-wide, including loan servicing, shipping/post-closing and processing. Robles has worked for Bank of Utah for 23 years and has worked 30 years in the mortgage lending business, holding many positions throughout her career, including loan processor, loan officer, underwriter, and in mortgage operations for the past 20-plus years. Her education includes a Bachelor of Science degree in business management from the University of Phoenix.

 

ECONOMIC INDICATORS

Utahns spent an average of 1.9 percent less on holiday spending in 2020 than in 2019, according to TOP Data. That figure compares with the U.S. average of $1,192, down 4.37 percent. Montana had the highest increase among states, at 99 percent. Massachusetts had the biggest decrease, at 41 percent. Details are at https://topagency.com/report/retail-shopping-report/

 

Summit County leads all Utah counties as the best for small-businesses owners, according to a list compiled by SmartAsset. It considered three factors: the proportion of people in a county with small-business income, how much business income those people reported and the amount of tax a potential resident must pay on their income. Summit was followed, in order, by Wayne, Rich, Wasatch, Morgan, Kane, Washington, Utah, Grand and Duchesne counties. Details are at https://smartasset.com/checking-account/savings-calculator#Utah

 

Salt Lake City is ranked No. 176 on a list of 2021’s dirtiest cities in America, compiled by LawnStarter. It compared the 200 largest U.S. cities across 20 key indicators, including air and water quality, waste regulations, and the share of homes with signs of mice or rats. Palmdale, California, was ranked the dirtiest. Winston-Salem, North Carolina, was ranked No. 200. Details are at https://www.lawnstarter.com/blog/studies/dirtiest-cities-in-united-states/.

 

• The median rent for a studio apartment in Salt Lake County was $1,055 in December, flat with a year earlier, according to Realtor.com. A one-bedroom apartment had a median rent of $1,125, up 1.4 percent, while a two-bedroom apartment was $1,379, also up 1.4 percent. Nationally, the median rent for studio units was $1,309, down 0.7 percent; $1,483 for one-bedroom units, up 0.8 percent; and $1,861 for two-bedroom units, up 2.6 percent. The report showed that rents had tumbled in San Francisco, New York, Boston, Seattle and D.C. but rose sharply in Sacramento, California; New Haven, Connecticut; Essex County, New Jersey; and Monroe County, New York. Details are at https://www.realtor.com/research/december-2020-rent/

 

Salt Lake City has the lowest median credit card debt among the top metros on a list compiled by LendingTree. The figure for Salt Lake City is $2,636. LendingTree researchers analyzed the 50 largest U.S. metros to see where the lowest percentage of people began 2021 with a credit card balance. Hartford had the highest, at $3,994. More than eight in 10 credit card users in the 50 biggest metros are carrying card debt into 2021, owing a median balance of $3,239. Details are at https://www.lendingtree.com/credit-cards/study/most-credit-card-debt/

 

EDUCATION/TRAINING

Neumont College of Computer Science, Salt Lake City, is seeking to become a candidate for accreditation with the Northwest Commission on Colleges and Universities (NWCCU). Remarks related to Neumont’s qualifications for candidacy must be received no later than March 26 and can be directed to NWCCU, 8060 165th Ave. NE, Suite 200, Redmond, WA 98052. The college already is accredited by the Accrediting Commission of Career Schools and Colleges (ACCSC) to offer baccalaureate programs specializing in computer science.

 

ENVIRONMENT

Nu Skin, a Provo-based developer of skin care and nutrition products, recently reported it has completed its goal of assessing, scoring and improving the environmental impact score of its top 20 products, as identified when it set its goals during 2019. It is estimated that the initial changes saved at least 16.5 tons of paper and 21 tons of plastic during 2020. The company also said it on track with all its previously announced sustainability commitments, including evaluating 100 percent of its products for improved environmental impact score by the end of 2023 and ensuring all packaging will be recycled, recyclable, reusable, reduced or renewable by 2030.

 

FINANCE

Walker & Dunlop Inc., based in Maryland, has structured $145 million in financing for three Utah projects: $41.4 million for Boulder Canyon Apartments in West Jordan; $43.8 million for Canyon View Apartments in Orem,; and nearly $60.3 million for the construction of Sugar Alley Apartments in Salt Lake City. Led by Jeff Kearns, senior director, and Greg Richardson, managing director, Walker & Dunlop arranged the financing on behalf of the borrower and developer, Eight Bay Advisors. Built in 2010, Boulder Canyon is a 280-unit community. Canyon View is a 288-unit multifamily property built in 1998. Sugar Alley Apartments will be a 193-unit, mixed-use development located in Salt Lake City’s Sugarhouse District. The development will include 17,230 square feet of ground floor retail space. The property is expected to deliver in October 2022.

 

HEALTHCARE

Steward Health Care, a Dallas-based private, for-profit, physician-led healthcare network, has named Mark Robinson as chief operating officer for the western region, consisting of Utah and Arizona. Robinson has 21 years of healthcare experience overseeing clinical quality, operations, physician recruitment and practice development, strategy execution, regulatory compliance, and physician/employee/patient satisfaction. Robinson began his career in 1999 as administrative resident at Trident Medical Center in Charleston, South Carolina. After advancing through the operational ranks of HCA, Robinson was promoted to his first CEO role in 2012 at Lake City Medical Center in Lake City, Florida. In 2015, he became chief executive of Capital Regional Medical Center in Tallahassee, Florida. Prior to that, he spent time serving as chief operating officer at Trident Medical Center in Charleston, South Carolina, and Gulf Coast Medical Center in Panama City, Florida.

 

TheraLight LLC, a Lindon-based international photomedicine company focused on light therapy and photobiomodulation, has announced that Health Canada has approved the TheraLight 360 full body photobiomodulation system for use in Canada. The approval issued through the Therapeutic Products Directorate of the Medical Devices Bureau of Health Canada includes the flagship TheraLight 360 system and the smaller TheraLight FIT system, which incorporate next-generation light therapy technology for advanced pain relief and recovery.

 

INTERNATIONAL

Jon M. Huntsman Jr. has been selected as the new chair of World Trade Center Utah (WTC Utah), succeeding Scott Anderson. His experience includes serving as U.S. ambassador to Russia, China and Singapore; serving as Utah’s 16th governor; serving as an international business leader with senior executive roles for Huntsman Corp. and as a director on the boards of Ford Motor Co., Chevron and other multinational corporations; serving in multiple federal trade assignments, including two years as deputy U.S. trade representative in President George W. Bush’s administration; and serving as a White House staff assistant to President Ronald Reagan.

 

• The Utah Inland Port Authority (UIPA) has hired Stephen Smith, Chris Mitton and Lynne Mayer to support business development, strategic projects and administrative efforts. The three new hires bring UIPA’s total staff to seven as the organization establishes new programs and policies. Smith will serve as account specialist on the Port Authority’s business development team, focusing on UIPA’s partnership with SecurSpace to find semi-truck parking solutions. He also manages UIPA’s partnership with Warehouse Exchange to optimize usage of warehouse space in Salt Lake and beyond. Prior to UIPA, Smith worked in the business process outsourcing and customer engagement industry for 20 years. Mitton is UIPA’s new strategic projects manager, providing business, financial, and policy direction for the strategic deployment of capital assets and infrastructure investment. He has more than a decade of experience in the public and private sectors. Mitton previously oversaw business development and government affairs efforts for Fortem Technologies as the director of strategic partnerships and also has a background with the U.S. Department of Transportation working on emerging technologies, infrastructure and safety programs, and tribal transportation. Mayer is now executive assistant to Jack Hedge. Mayer served as executive assistant to Val Hale at the Governor’s Office of Economic Development for the past four years and spent the previous 16 years as the administrative assistant to the chancellor and the Board of Trustees at College of the Canyons in California.

 

INVESTMENTS

Charger Investment Partners, based in California, has announced the completion of a growth investment in Sandy-based B&B Coffeehouse, doing business as Beans & Brews, in partnership with the company’s founders, Jeff and Kevin Laramie. Financial terms of the transaction were not disclosed. Beans & Brews Coffeehouse operates and franchises coffeehouses in Utah, Idaho and Nevada and a wholesaler of specialty roasted coffee beans. Family-owned since 1993, it has grown from its first location in Salt Lake City almost 30 years ago to 58 locations throughout the western U.S. As part of the transaction, Charger’s operating partner, Chris Dull, will join the Beans & Brews board of directors. Dull has experience as a CEO and board member working with businesses in the food and beverage and franchise space. Winston & Strawn LLP acted as legal advisor to Charger. BKD Capital Advisors served as financial advisor to Beans & Brews. Dentons Durham Jones Pinegar acted as legal advisor to Beans & Brews.

 

LAW

Parsons Behle & Latimer, Salt Lake City, has announced a new board of directors and officers for 2021. It also announced that Hal J. Pos, president and CEO, will step down from the board after 25 years of service and leadership. The 2021 board was elected by Parsons shareholders. The board includes Shawn C. Ferrin, chairperson and chief executive officer (CEO); Richard J. Angell, director and vice president; Brook B. Bond, director, vice president and secretary; Bruce H. White, director, vice president and treasurer; and Juliette P. White, director and vice president. Returning board members include Ferrin, who transitions from chairperson of the board and vice president to chairperson of the board and CEO; Angell, who remains director and vice president, but passes the title of secretary to Bond, the first Idaho shareholder to join the board. Bruce White and Juliette White (no relation), who retain their positions from the previous year. This year, shareholder Cory D. Sinclair also assumes a new role at Parsons, transitioning from chief operations officer to president. Sinclair is a member of Parsons’ litigation team and leads the firm’s Antitrust and Competition practice group.

 

NONPROFITS

• The Malouf Foundation has added Justin Petty as director of digital strategy and Luke Madsen as a program manager. The foundation is a nonprofit organization dedicated to confronting child sexual exploitation, specifically sex trafficking and online abuse. Madsen has been working at Malouf since October 2018 as a sales account manager. During that time, he also volunteered as a charity manager to help support local organizations with whom the company partners. He joined the Malouf Foundation as a program manager. Before his time at Malouf, Madsen served in the United States Army and attended the Utah State University Huntsman School of Business. Petty came to the Malouf Foundation after 4 ½ years at Stanford University, where he managed part of their social media and communications portfolio and developed relationships within Silicon Valley.

 

OUTDOOR RECREATION

• The cycle for the 2021 Utah Office of Outdoor Recreation grants is open. It closed March 19 at 5 p.m. The grants include the Utah Outdoor Recreation Grant - Tier 1, $10,001 to $150,000 for new outdoor recreation infrastructure projects to help communities build recreation amenities that support local economic development; UORG Regional Asset Tier, up to $500,000 for large projects with a total value of at least $2 million; UORG Mini Grant, $500 to $10,000 for smaller projects; Recreation Restoration Infrastructure, up to $150,000 to restore high-use and high-priority trails or repair or replace other types of developed recreation infrastructure on public lands; and Utah Outdoor Classroom Grant, up to $10,000 to community-based nonprofit organizations or publicly funded K-12 schools to help get Utah’s K-12 students outside to learn, gain a skill, and enjoy the outdoors. Details are at business.utah.gov/outdoor/grants.

 

REAL ESTATE

Kiln, a Utah-based flex-office and coworking space company, will open its fifth location April 1 at 1090 Center Drive, Park City, in the Newpark Town Center mixed-use development in Kimball Junction. In in partnership with Newpark Retail, EDA and Serenity Construction, Kiln is transforming what was previously Jupiter Bowl into a flex-office space community. The 22,000-square-foot layout will feature private and open office spaces, meeting rooms, a large event space, a podcast studio, phone booths, and a set of wellness-focused amenities. It will also include a mountaineering club with ski storage, bike racks, and other accommodations for personal equipment. Kiln’s other locations are in Lehi (two); Salt Lake City; and Boulder, Colorado.

 

Industrial Outdoor Ventures (IOV), a Chicago-based investment and development firm focused on outdoor storage facilities, recently entered the Salt Lake City market with the acquisition of a vacant industrial facility located at 5 S. 5100 W.. IOV purchased the property from Standlee Premium Western Forage for an undisclosed price. The facility sits on 23.24 acres and features a 66,900-square-foot warehouse equipped with 11 dock doors and 2,000 square feet of office space. IOV plans to make major site improvements to 16 acres of the property’s unimproved land area. Site improvements will include grading, paving fencing and site lighting. Additionally, IOV will paint the exterior of the building, upfit warehouse lighting and prepare the office space for tenants. Mike Farmer and Phillip Eilers of Cushman & Wakefield brokered the transaction.

 

Benloch Ranch has been unveiled as an “adventure living community” near Heber. Homes on the 2,550-acre property start at $685,000 and home sites start at $249,900. It will offer over 900 acres of open space and 20 miles of trails. The developer is Jamie Mackay.

 

RECOGNITIONS

Nav, a Salt Lake City-based company offering a financing platform for small businesses, has announced that Prince Abou’s Butchery is the latest $10,000 grand prize winner of its Small Business Grant. The business, based in Queen’s, New York, provides locally sourced, natural halal meats. Abou Sow, the owner and sole employee, will use the funds to expand his inventory, join local farmers markets, and employ staff to help with increased sales. The $5,000 runner-up prize went to Our Loving Village, a childcare and education provider in Stamford, Texas. The grant program was established in 2018 and has awarded $95,000 to small businesses across the country.

 

SERVICES

Intelligent Leadership Executive Coaching (ILEC) is launching a new virtual franchise with Rich Baron of Layton. Baron will provide services to solve leadership problems and build strong cultures in business of all sizes and types. Baron will assist businesses by aiding in the development of both their emerging and existing leaders. He has 25 years of management experience. Prior to joining ILEC, Baron was a general manager for an FDA-regulated Class II medical device company for 20 years.

 

TECHNOLOGY/LIFE SCIENCES

Impartner, a South Jordan-based channel management technology company, has appointed Robert Reid to its board of directors. Reid is chairman of mid-market solutions for Sage. He previously was CEO of Intaact (which was acquired by Sage), LucidEra, UpShot and Seeker Software.

 

LiveView Technologies, an Orem-based provider of cloud-based video surveillance and analytics, has hired Dale Murphy as executive vice president of sports. Murphy will work with sports and events venues to identify ways LiveView’s cloud-based platform can improve overall venue security. Murphy is a former Major League Baseball player for the Atlanta Braves, Philadelphia Phillies and Colorado Rockies, and a two-time National League Most Valuable Player.

 

SimpleNexus, a Lehi-based developer of a homeownership platform for loan officers, borrowers, real estate agents and settlement agents, has named Richard Jackman as vice president of marketing. Jackman has over two decades of marketing leadership experience. Jackman most recently served 12 years as vice president of marketing at Simplifile.

 

Pattern, a Salt Lake City-based company offering a platform for global e-commerce, has appointed Jason Beesley as chief financial officer. He has more than 20 years of experience in global finance, operations and strategy experience with public companies. Most recently, he was CFO in London for NBCUniversal’s International division, a Comcast Company. He previously held multiple senior financial leadership roles at NBCUniversal and General Electric, based in the United States and overseas. Beesley graduated from Brigham Young University with a bachelor’s degree in economics.

 

TRAVEL & TOURISM

• The board of directors of Thanksgiving Point, Lehi, has begun a nationwide search for the success for Mike L Washburn, president and CEO for the past 18 years. Washburn has announced plans to retire, effective this summer, in order to serve a mission for The Church of Jesus Christ of Latter-day Saints. Washburn joined Thanksgiving Point in 2003 after nine years as the chief financial officer at Sundance Group.