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ECONOMIC INDICATORS
• Fourteen percent of Utah business owners plan to add employees in the next six months, according to data from Lending Tree. Eleven percent plan to cut staff, it said. That puts Utah No. 23 among states for optimism. The states most optimistic about adding business staff this year are, in order, Mississippi (16.2 percent expected to add), New Mexico and West Virginia. The least optimistic are Montana (17.7 percent expected to cut), Maine and Alaska. Twenty-nine states are less optimistic than they were in 2024, while 16 are more optimistic. Data shows that 11 of the 12 states most optimistic about employee growth backed President Donald Trump in the 2024 presidential election, while 10 of the 12 least optimistic states supported Vice President Kamala Harris. Details are at https://www.lendingtree.com/business/small/hiring-study/.
• Salt Lake City main street businesses are ranked No. 13 on a list of most confident in the U.S. heading into 2026, compiled by Advance Funds Networks. Those businesses were asked how confident they feel and how exposed they believe their businesses are to technological disruption. “Salt Lake City’s storefront owners expressed confidence grounded in growth that still feels manageable,” Advance Funds Networks said. “Many serve fast-growing neighborhoods while maintaining strong community ties. Businesses built around daily needs, personal service, and local relationships leave owners feeling less exposed to technological disruption than office-based sectors.” The most confident main street businesses overall are in West Palm Beach, Florida. Details are at https://advancefundsnetwork.com/survey-reveals-the-cities-that-lead-in-small-business-confidence-for-2026/.
• Utah is ranked No. 24 on a list of states with young people who are the most upbeat about job prospects in 2026, compiled by global outplacement and career development firm Careerminds and based on a poll of people ages 18-25. Careerminds asked young adults to rate their optimism for career advancement in 2026 on a 10-point scale. Surveyed Utahns’ optimism score is an average of 5.7, above the national figure of 5.4. The most optimistic state is Nevada, at 6.8. The least optimistic is Delaware, at 3.0. Among surveyed cities, West Valley City, at 2.8, and Salt Lake City, at 4.6, are among the most pessimistic. Details are at https://careerminds.com/blog/young-workers-top-workplace-concerns.
• Three Utah public buildings are among the most beautiful in the U.S., a list compiled by LovevsDesign.com, a custom wallpaper company, and based on a survey about public buildings people consider beautiful yet constantly overlooked. They are the Box Elder County Courthouse (ranked No. 67 nationally), Moab City Hall (No. 70) and the Sanpete County Courthouse (No. 115). The top-ranked building overall is the Hot Springs National Park Administration Building in Hot Springs, Arkansas. Details are at https://www.lovevsdesign.com/133-beautiful-public-buildings.html.
• Nearly half (48 percent) of Utahns say they would consider using AI to write their will, according to survey data commissioned by Choice Mutual, a life insurance agency that specializes in final expense insurance. They cite convenience, speed and cost savings as the main motivations.
• Salt Lake City is ranked No. 29 on a list of cities with the earliest risers, compiled by productivity application PDF Expert using The 5AM Club’s Instagram posts. The city last year had 77.2 hashtags per 10,000 posts. West Valley City is ranked No. 164, with 28.7. The top-ranked city overall is New York City, at 92. The No. 125 city is Killeen, Texas, at 41. Details are at https://pdfexpert.com/blog/5am-club.
EDUCATION/TRAINING
• Utah State University Extension’s Rural Online Initiative highlighting the E-Commerce Accelerator (ECA) program — a free, hands-on program helping rural Utah businesses succeed in online sales through one-on-one technical assistance and mentoring, has announced that since October 2023, ECA clients have launched more than 50 functioning e-commerce websites, generating over $1 million in new online revenue, with 85 percent reporting increased sales revenue on their e-commerce websites. The ECA program provides agricultural producers and rural small businesses with hands-on technical assistance and personalized mentoring to help clients adopt digital tools, build websites, and develop sustainable e-commerce strategies that expand market reach and strengthen long-term business growth. The program is now seeking ongoing funding from the Utah Legislature to ensure this support remains available to businesses in rural areas. Over the six-week ECA program experience, clients work one-on-one with USU Extension experts to build online storefronts, set up digital payment and fulfillment systems, and connect digital platforms. Experts provide the technical assistance and mentoring needed to turn e-commerce into a sustainable strategy that business owners can confidently manage, measure, and grow independently after the program ends.
EVENTS
• Bank of Utah, based in Ogden, has scheduled its annual economic forecast events for Feb. 10-12. They include a Feb. 10 event set for 8-10 a.m. at Ogden Eccles Conference Center, 2415 Washington Blvd., Ogden, in partnership with the Ogden-Weber Chamber of Commerce. A second Feb. 10 event is 11:30 a.m.-1 p.m., at Riverwoods Conference Center, 615 Riverwoods Parkway, Logan, in partnership with the Cache Valley Chamber of Commerce. A Feb. 11 event is 8:30-11 a.m. at Davis Tech Campus’ Allied Health Building, 435 Simmons Way, Kaysville, in partnership with the Davis Chamber of Commerce. A Feb. 12 event is 11:30 a.m.-1 p.m., at Thanksgiving Point’s Garden Room, 2900 Garden Drive, Lehi, in partnership with the Utah Valley Chamber of Commerce. All will feature Tim Mahedy, founder and chief economist of Access/Macro, a macroeconomic consulting firm. Ogden and Kaysville events also will include Michael Jeanfreau, senior economist at Utah Department of Workforce Services. Details are available by contacting the local chambers.
FRANCHISING
• Image Studios, a Salt Lake City-based franchisor of salon suites, has launched Image Pro Academy, an education platform designed to empower independent beauty, health and wellness entrepreneurs with business and marketing tools. Live courses are available now, with on-demand education launching in February. Image Pros receive full access at no cost. Non-IMAGE Pros are welcome to purchase individual classes or join via paid membership. Partnered with MPK Equity Partners, Image Studios has 125 stores open across 28 states and more than 200 stores in development. It was founded in 2009 and franchised since 2015.
INVESTMENTS
• RouteSense, a Salt Lake City-based data analytics company delivering predictive intelligence for the payments industry, has officially launch alongside an approximately $2 million pre-seed round led by Redbud VC, with participation from FOVC, Cultivation Capital, Service Provider Capital and the University of Missouri AACE Fund. RouteSense aims to give merchants, processors and acquirers the near-real-time visibility they need to make faster, more informed decisions. The company launches with Pathfinder, a MID health analytics and transaction routing platform designed for merchants operating multiple approved merchant accounts. RouteSense was founded by a leadership team with more than 75 years of combined experience across acquiring, PayFac infrastructure, dispute technology and real-time analytics: Stephen Martin, Robert Matthews and Colin Martin. Robert Matthews, chief technology officer, previously led engineering at Midigator, a chargeback and dispute management platform acquired by Equifax, where he later oversaw global disputes engineering.
JOINT VENTURES
• Lotus Horizons Holdings, the parent company of New Hampshire-based Sheergard Composite Solutions Inc., and Whitehead Composite Industries LLC, based in North Salt Lake, have formed Sheergard Utah, a new joint venture company bringing together companies in composite engineering and sandwich composite radome manufacturing. A sandwich composite radome is a protective, often spherical or dome-shaped cover for radar/antenna systems. Under the agreement, Sheergard will hold the majority ownership stake. The joint venture brings together Sheergard’s radome design, program execution and field-service expertise with WCI’s composite manufacturing capabilities, facilities, skilled personnel and equipment. WCI is a composite fabrication company with more than two decades of experience producing composite components and tooling for a diverse set of industries.
MILESTONES
• BaseCamp Franchising, a North Salt Lake-based parent company of upscale thrift concepts Uptown Cheapskate and Kid to Kid, has surpassed $300 million in systemwide sales in 2025, reflecting growth of more than 20 percent year-over-year. The milestone was fueled by strong performance across both existing and new locations, it said. During the year, BaseCamp opened 22 new stores, bringing its total to over 280 locations across 32 U.S. states and several international markets. The company expects to open more than 30 locations in 2026.
NONPROFITS
• Children’s Miracle Network, a Salt Lake City-based charity that focuses on raising funds to support children’s health, has launched “The Health For All Kids Impact Pledge” to demonstrate its participation in providing the necessary resources to support the country’s pediatric health care demands amid unstable funding sources. The $1 billion, two-year fundraising initiative will add to the nearly $10 billion that CMN has raised for its network of 170 children’s hospitals across the United States and Canada since its inception in 1983. CMN’s model ensures that all of the money supports the network’s local children’s hospital in the market where they were raised. In response to growing financial pressures on pediatric health care, CMN is shifting its strategic focus to emphasize the critical role philanthropy must play in meeting children’s health needs.
PARTNERSHIPS
• Neighbor, a Salt Lake City-based online marketplace to find self-storage, vehicle storage and parking, has announced a new integration with Tenant Inc., a self-storage software platform built by operators for operators. Together, the companies aim to help storage operators appear where renters already search for storage units online and convert digital demand into move-ins. The partnership instantly enables Tenant Inc.’s 1,000-plus customers nationwide to showcase their available inventory directly to renters searching online.
• Scorpion, a Salt Lake City-based provider of digital marketing and technology solutions for local businesses, has joined the TikTok Marketing Partners Program as a badged Marketing Technology Partner. The company said it will enhance its ability to help small and medium-sized businesses build a presence and optimize performance on TikTok through Scorpion’s integrated marketing platform. The Marketing Partners Program connects businesses with providers that offer technology and strong integrations to help them succeed on the platform.
PHILANTHROPY
• Smithfield Foods, a packaged meats and fresh pork products producer based in Virginia and with operations in Salt Lake City, has announced that applications are open for its 2026 Impact Grant Program to support nonprofit organizations “driving meaningful and measurable change in local communities that Smithfield employees call home.” Grants of $10,000 or more will be awarded through a competitive application process, with proposals evaluated based on demonstrated need, potential impact and alignment with Smithfield’s four focus areas: hunger relief, education, hometown heroes and community vitality. Eligible nonprofit organizations may apply through Feb. 6 at https://form.asana.com/?k=twF7sbRoVNV_lQlrZ03Dzw&d=45745516540834. In 2024, Smithfield invested more than $32 million to support local communities, including more than 25 million servings of protein donated to neighbors experiencing
food insecurity.
REAL ESTATE
• Northmarq, a privately held commercial real estate firm, recently arranged an $82.5 million bridge loan refinance of two midrise apartments in Salt Lake City: CINQ and LUMA apartments. Northmarq arranged financing on behalf of the borrower, through a relationship with Prudential. CINQ, at 550 W. 200 S., is an adaptive reuse of a 1920s warehouse in the historic Greektown District and features the revitalized warehouse as the clubhouse. It features one-, two- and three-bedroom units. LUMA, at 205 S. 500 W., features studio-, one- and two-bedroom units.
RECOGNITIONS
• DoTerra, a Pleasant Grove-based essential oils company, has been named “Best Essential Oils” in the 2026 Oprah Daily Self-Care O-wards, a consumer-recognized honor spotlighting standout self-care products curated by Oprah Daily’s editors. The Self-Care O-wards highlight the best in wellness and personal care products, guided by Oprah Daily’s evaluation and curation. DoTerra’s essential oils were selected for their versatility and role in grounding self-care rituals, as well as for their purity and sourcing.