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ACCOUNTING
• BKD CPAs & Advisors has promoted five advisors to senior manager, including Kristel Price. She has more than 15 years of accounting and payroll experience and is a manager in BKD’s Salt Lake City accounting outsourcing services (AOS) department. She works with small and large businesses to develop, oversee and help manage their accounting based on their business and industry needs. Price started her career in the marketing and advertising department at a national sports flooring company where she worked for six years. She accepted an advancement opportunity in its accounting department and has succeeded in public accounting outsourcing services ever since. Price earned an associate’s degree in business and marketing from Salt Lake Community College and is a Certified QuickBooks Online Pro-Advisor.
BANKING
• D.L. Evans Bank has appointed Fred Pettersson as vice president commercial loan officer at its Layton branch. He will be responsible for business development and marketing of existing and prospective accounts and receiving, reviewing, evaluating and underwriting commercial loan requests. He currently works at the South Ogden branch and will relocate to the Layton branch in early 2022. Pettersson has 32 years of financial experience. His education includes earning his MBA at Utah State University and his BA in marketing at University of Utah.
DIVIDENDS
• The board of directors of Medallion Bank, Salt Lake City, has declared a quarterly cash dividend of 50 cents per share on the bank’s fixed-to-floating rate non-cumulative perpetual preferred stock, Series F. The dividend is payable Jan. 3 to holders of record Dec. 15. Medallion Bank specializes in providing consumer loans for the purchase of recreational vehicles, boats and home improvements, and offering loan origination services to fintech partners.
• The board of directors of Clarus Corp., Salt Lake City, has confirmed the company’s regular quarterly cash dividend of 2.5 cents per share. The dividend will be paid Nov. 19 to stockholders of record Nov. 8. Clarus develops, manufactures and distributes outdoor equipment and lifestyle products focused on the outdoor and consumer enthusiast markets.
ECONOMIC INDICATORS
• Highland is the “top place in Utah for retirees” related to taxes, a list compiled by SmartAsset. It analyzed tax data for county-level sales, property, income, fuel and Social Security categories, based on a theoretical $50,000 annual income. Highland was followed, in order, by Enoch, Summit Park, Cedar Hills, Snyderville, St. George, Bluffdale, Nibley, Heber and Plain City. Details are at https://smartasset.com/retirement/utah-retirement-taxes#utah/mostTaxFriendlyPlacesForRetirees-3.
• Utah is ranked No. 36 on a list of “2022’s Best States to Live Off the Grid,” compiled by LawnStarter. It compared the states across 21 factors, from off-grid legality and average per-acre cost of farmland to climate and crime rate. The top-ranked state is Texas. The bottom-ranked state is New Jersey. Details are at https://www.lawnstarter.com/blog/studies/best-and-worst-states-for-living-off-the-grid/.
• Relationships between Utah renters and landlords among the best in the country, according to a survey by water damage restoration company ServiceMasterByZaba.com. It asked renters to determine how well they get along with their landlord, ranking it on a scale from 1 to 10. Utah’s relationships averaged an 8. The national average is 7. The worst relationships are in Vermont, at 5. The study also found that the majority of renters think the laws are stacked in their landlords’ favor, and two in three renters said they’d consider breaking their lease if their rental home flooded.
EDUCATION/TRAINING
• Weber State University received commendations in four areas in a preliminary accreditation report from the Northwest Commission on Colleges and Universities (NWCCU). The areas are Weber State’s culture of caring and fostering meaningful connections for students and their success; data-driven interventions to help students succeed, especially interventions to help the most at-risk students; its approach and commitment to general education assessment and improvement; and its diligence and commitment to helping pre-college students pursue their goals. The university undergoes an official accreditation review every seven years. The final report will be submitted to the NWCCU in mid-January.
GOVERNMENT
• A group of Utah legislators has formed the Utah Life Sciences Innovation Caucus (ULSIC). Chaired by Sen. Ann Millner and Rep. Steve Eliason and co-chaired by Sen. Luz Escamilla and Rep. Jennifer Dailey-Provost, the mission of the ULSIC is to educate lawmakers on Utah’s life sciences industry, including its contributions to the state’s economy and its role in advancing medical innovation. More than 20 legislators participated in its first meeting and all expressed interest in not only continuing caucus meetings on a regular basis but in doing tours of life sciences companies to learn more.
• Five Utah organizations are among 529 applicants for the American Rescue Plan Build Back Better Regional Challenge, according to the U.S. Department of Commerce’s Economic Development Administration. The challenge will invest $1 billion in up to 30 regions to capitalize on American ingenuity and American workers by providing a transformational investment to regions across the country, the administration said. It is designed to assist communities by accelerating the economic recovery from the coronavirus pandemic and building local economies that will be resilient to future economic shocks. Utah applicants are the Bear River Association of Governments for the Utah-Idaho Freight Transportation Innovation Corridor, Mountainland Economic Development District for Wasatch Range Leisure & Hospitality Regional Coalition, Provo City Corp. for the Provo City Aquifer Storage and Recovery Project, the University of Utah for the Tri City Economic Development Plan, and the Utah Office of Energy Development for the Utah Energy Diversification and Innovation (UEDI) Coalition Cluster.
• The Federal Communications Commission has approved a third set of Connected Care Pilot Program projects. The 36 projects will receive a total of $15.3 million in funding. Fifth-seven projects were approved earlier this year. The funds will help defray the costs of providing certain telehealth services for eligible healthcare providers, with a particular emphasis on providing connected care services to low-income and veteran patients. Utah recipients are Forensics, Salt Lake City; Valley EPIC Outpatient, Taylorsville; Highland Springs Specialty Clinic Holladay, Salt Lake City; Highland Springs Specialty Clinic American Fork, American Fork; Carmen Pingree Autism Center of Learning, Salt Lake City; Kids Intensive Day Services, Midvale; CORE Recovery Management Outpatient Services, Salt Lake City; Valleywest, West Valley City; and Children’s Outpatient Services, Salt Lake City. The Utah sites filed separate applications for similar pilot projects totaling $5.55 million to help offer increased video visits and enhanced telehealth experience to patients dealing with chronic and mental health conditions.
HEALTHCARE
• Elevar Therapeutics Inc., a Salt Lake City-based biopharmaceutical company, has announced that Yang-gon Jin, who has served as a director since 2020, has been appointed to chairman of its board of directors and that Kate McKinley, CEO, has been appointed to the board. Jin also serves as co-CEO of HLB, which is Elevar’s parent company, and also leads the HLB Group as chairman. McKinley joined Elevar in 2019. Before being appointed to CEO in July, she served as CCO and led Elevar’s global commercial, medical affairs, business development, manufacturing, supply chain, alliance management, and corporate communications organizations. McKinley has more than 20 years of experience in developing high-performing cultures and organizations in the biopharmaceutical industry. Prior to joining Elevar, she was the head of marketing, training and the hospital channel at Dendreon, and was U.S. head of sales at AbbVie.
• MountainStar Healthcare has broken ground on the Herriman Emergency Center freestanding ER in Herriman. The first emergency room within Herriman city limits also will be accessible from 11400 South, 12300 South and Bangerter Highway. It is a Lone Peak Hospital ER that will provide 24/7 emergency care to people living and working in Herriman, Riverton, South Jordan and West Jordan, and their surrounding neighborhoods. It will open in 2022 and be fully equipped and staffed by physicians from Lone Peak Hospital. They will be supported by equally knowledgeable nurses, technicians, and other medical staff.
HOSPITALITY/FOOD SERVICE
• Ogden’s Own Distillery, an Ogden-based distiller of craft spirits, has opened Side Bar, an on-site cocktail bar. It also offers non-alcoholic “mocktails.”
INSURANCE
• Stratus.hr, a Sandy-based PEO for human resources outsourcing in the Intermountain West, has launched Stratus Agency, an independent insurance agency. Stratus Agency has long been in the background, procuring incredible benefits packages to give Stratus.hr clients a competitive advantage for recruiting and retention. Until recently, Stratus Agency was tied to Stratus.hr and has had to rely on outside agencies to offer clients property and casualty insurance. In addition to employee benefits (health, dental, life, vision, FSA, supplemental plans, 401(k)), Stratus Agency offers workers’ compensation, general liability, property and casualty, commercial auto, officer liability, and cybercrime protection for businesses.
INVESTMENTS
• Awardco, a Provo-based employee rewards and recognition company, has raised $65 million in a Series A funding round that raised its valuation to more than $900 million. The funding was led by General Catalyst and Ryan Smith, Qualtrics co-founder and Utah Jazz majority owner. Awardco has a client list of more than 1,000 companies across 141 countries and more than 3 million employees received over 9 million recognitions using the Awardco platform in the past year.
• Udo LLC, a Farmington-based, privately held communications technology company, has announced the official launch of its new video-based healthcare collaboration app and announced initial funding of $20 million from a network of private investors, many of whom are associated with the healthcare industry. The funding will be used to scale the company’s first product, Udo Care, a video-based mobile app that allows providers to interact directly with their patients. Since its inception in 2019, Udo has grown from four to 63 employees. The company recently was approved for a tax credit incentive by the Governor’s Office of Economic Opportunity, totaling $2.87 million over the next five years.
• Ennoble Care LLC, based in New Jersey, has received investments from Salt Lake City-based Peterson Partners LLC, Trilogy Search Partners, Maven Equity and other investors. The amount was not disclosed. Ennoble is a primary, palliative and hospice care provider with operations across the eastern U.S.
MANUFACTURING
• Purple Innovation Inc., a designer and manufacturer of comfort products, has appointed Jack Roddy as chief people officer, with responsibility for the company’s human resources, company culture, talent acquisition and diversity, equity and inclusion efforts. Roddy has over 25 years of experience in human resources and organization development, most recently serving as chief people officer for VASA Fitness. Prior to that, he was chief human resources and culture officer for SeaWorld Parks & Entertainment and senior vice president of the Americas for Luxottica. His education includes a BA in organizational behavior from Brigham Young University in Hawaii.
• DMOS Collective is moving its operations from Wyoming to Utah, bringing up to 15 jobs to the state in the next several years. The company designs, manufactures and distributes car, off-road and snow shovels, storage products and goods. The company is leasing approximately 6,700 square feet for manufacturing, assembly and distribution at its new location in Salt Lake City. The company was founded in Jackson Hole, Wyoming, in 2015. The announcement was made by the company, the Economic Development Corporation of Utah (EDCUtah), Salt Lake City and the Utah Governor’s Office of Economic Opportunity. Stephanie Pack led Project Spade for EDCUtah. The company said its headquarters will remain in Wyoming.
MEDIA/MARKETING
• Advice Media, a Park City-based provider of marketing solutions for medical, dental and law practices, has changed its name to MyAdvice. That change and a “refreshed brand vision” reflects the company’s renewed focus on its SaaS-based digital marketing tools and support that enable its clients to increase revenue by attracting and retaining more customers, it said.
PHILANTHROPY
• Altabank has pledged $100,000 over five years to CAPSA, a nonprofit domestic violence, sexual abuse and rape recovery center, to help the organization continue to help survivors of domestic violence and abuse in the Cache Valley. CAPSA has developed a housing program that incorporates advocacy and educational programming with housing subsidies. CAPSA also owns and manages 21 housing units to ensure families who do not qualify for traditional housing also have a safe home. In 2017, Altabank worked with CAPSA to develop the home sponsorship program. Organizations and individuals donated $6,000 per year, which is the average cost of housing subsidies for a family in CAPSA’s housing program. In January 2018, Altabank became CAPSA’s first home sponsor; this quickly prompted commitments from other businesses, including Malouf and iFit.
• IFA is teaming up with Purina, Hill’s Science Diet and Victor to donate livestock feed and pet food to local animal shelters, rescues and sanctuaries. The annual “Feeding Furriends Animal Food Drive” last year donated over 100,000 pounds of food. The drive will last through Nov. 13 at all 23 IFA Country Stores locations. For every 10 bags of 40 to 50 pounds of livestock feed or pet food purchased during the drive, IFA will donate one bag to a local shelter/rescue partner up to one month supply per partner. Customers may also add money donations to their purchases.
REAL ESTATE
• IHP Capital Partners, a real estate investment firm, and homebuilder Fieldstone Homes have launched a joint venture in the acquisition of up to 135 single-family lots within Daybreak, a master-planned community in South Jordan. The lots range in size from 3,400 square feet to 5,300 square feet. Homes will range in size from 2,800 square feet to 3,500 square feet and are designed to appeal to first-time and move-up homebuyers. The first sales release is anticipated in the fourth quarter. The purchase marks the fifth project the two firms are developing together in the Greater Salt Lake City region since the 2020 first quarter. The others are Antelope Meadows in Eagle Mountain; Scenic Mountain Townhomes West in Eagle Mountain; Canyon Point, part of the Traverse Mountain Master Plan; and The Park in Layton. IHP has more than 30 residential projects in various stages of development in Utah and seven other states.
• HiCap Management has purchased Coventry Townhomes, 2323 S. 800 W., Woods Cross. CBRE made the sale announcement, saying it arranged for the acquisition financing. Ryan Jameson, Jesse Weber and Stephen Baird with CBRE Capital Markets’ Debt & Structured Finance secured the $13.2 million loan on behalf of HiCap Management. Coventry Townhomes was acquired off-market from a local developer as part of a 1031 exchange for the buyer. The acquisition is HiCap Management’s third in the Greater Salt Lake City area.
• Toll Brothers, a builder of luxury homes, has announced Regency at Desert Color, a new community for 55-plus active adults, in St. George. It will open for sale in fall 2022 in the Desert Color master-planned community consisting of 3,350 acres. It will consist of over 550 home sites, with 14 home designs ranging from 1,425 to 3,155 square feet.
RECOGNITIONS
• Salt Lake City has been selected a contender for USA Today’s 2021 “10 Best Travel Awards” under the “Best Ski Town” category. Nominated and selected by an expert panel, the contest criteria include proximity to skiing, city atmosphere and amenities such as restaurants, entertainment and bars. Visit Salt Lake, a private, nonprofit corporation responsible for the promotion of Salt Lake as a convention and travel destination, is encouraging people to vote for the city at www.10best.com/awards/travel/best-ski-town/. Voting ends Nov. 22. Voters have four weeks to narrow the list of 18 cities and towns down to the 20 best.
• Two Utah universities are among five nationwide to win at the 2021 Pitch for the Trades Competition in Minnesota, a program of NACCE, in partnership with the Philip E. and Carole R. Ratcliffe Foundation. Participating colleges battled for a portion of $135,000 to target their college’s skilled trades initiative. Snow College’s Snow-ganics Compost won $45,000. The lead was Russ Tanner and the mentor was Dirk Soma of Kaua`i Community College. Salt Lake Community College’s Truck Driving Entrepreneurship won, $17,500. The lead was Jon Beutler and the mentor was Jerry Edmonds, vice president of Vance-Granville Community College. NACCE is an organization of educators, administrators, presidents and entrepreneurs focused on igniting entrepreneurship in their communities and campuses.
• Utah’s my529 educational savings plan has earned an analyst rating of Gold from Morningstar Research Services LLC. It is one of only three plans to receive the rating. My529 has received the rating for 11 consecutive years, unmatched across the industry. Analysts reviewed 62 plans for underlying investment quality and selection process, asset allocation methodology, investment option offerings, fees and oversight.
RECREATION
• As part of the eighth annual Utah Outdoor Recreation Summit, the Zion Forever Project, Zion Cycles, Utah Clean Cities and Magnum hosted a ribbon-cutting and e-bike tour of new trails. The event opened the first 10 miles of publicly accessible mountain biking trails on Zion’s east side, beyond the park borders. These first 10 miles were made possible by land grants and easements from private landowners, donations to the Zion Forever Project, funding through the Utah Office of Outdoor Recreation Grant, the National Park Foundation, and support from Kane County. The next 24.5 miles of trail slated in Phase II are funded through an effort led by the Zion Forever Project and the collaboration of public and private partners. The new trailheads are adjacent to the new East Zion Visitor Center site, now funded through efforts led by Kane County commissioners. In a pilot effort led by Utah Clean Cities, new EV shuttles will begin running from the town of Kanab, in what eventually will see fleets of alternative fueled vehicles transporting guests within the park and to gateway communities east of Zion National Park.
SERVICES
• Bailey’s Moving & Storage has opened a 141,000-square-foot warehouse in Salt Lake City. It follows recent initiatives to expand to service more customers inside Utah and Colorado.
TECHNOLOGY
• ASEA, a Salt Lake City-based company focused on redox technology, has appointed Dr. Philippe A. Souvestre to its Medical Professionals Board. Souvestre joins 19 existing members on the board, which provides neuro-biomedical expertise and leadership in the health, wellness and performance fields. For nearly four decades, his medical, scientific, research and academic careers have focused on advancing medical effectiveness through using, furthering, combining and teaching both conventional and innovative life sciences at various Western and Eastern universities worldwide. Since 1997, he has served as the founding president and medical director of Canada-based NeuroKinetics Health Services Inc. Souvestre is a former flight surgeon, pilot-physician and in-flight experimenter for the French Air Force. A former French astronaut candidate, he is currently an operational Mars Analog Astronaut.
• Canary Speech, a Provo-based AI speech technology company, has hired Gavin O’Duffy as chief business officer. His responsibilities include opening European offices for the company in Ireland. O’Duffy most recently spent 10 years with Amazon, both in Silicon Valley and in Europe. He was hired originally to develop and manage Amazon’s technical partnerships with global Tier 1 wireless carriers for tablets, e-readers and smartphones. Subsequently, he was selected to be a founding member of Alexa Voice Service (AVS) technical team. Most recently, he was responsible for EU technical strategy with consulting and professional services, including Alexa for Hospitality. O’Duffy’s career in telecommunications began when he worked as a network design consultant on assignment across Europe and Asia for Ericsson and Vodafone. He later worked for Danger, Microsoft and HP.