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ASSOCIATIONS
- The Park City Chamber of Commerce & Visitors Bureau is accepting applications through April 24 for its Sustainable Tourism Grant program, which supports environmentally friendly projects across tourism economy. The grant will fund programs, initiatives, promotions and events that help support the objectives outlined in the Sustainable Tourism Plan. Applicants can request an award of up to $30,000 to partially or fully fund eligible sustainable tourism projects. The chamber/bureau will appoint a committee to vet applications and score the submissions based on a standardized rubric. Grant funds will be distributed as early as July. Last year, the grant program awarded 20 recipients with funding for their sustainable tourism projects. Details are at visitparkcity.com/sustainabletourismgrant/.
BANKING
- Karen DeVries has retired from Bank of Utah, based in Ogden, after a 50-year career. DeVries most recently was the executive assistant for the commercial lending team. She started at the company in the check-filing department.
- TAB Bank, based in Ogden, has appointed Justin Hatch as chief lending officer. Hatch will oversee the lending activities of TAB Bank’s working capital lending products, including asset-based lending, factoring, lending partnerships, lender finance, small-ticket A/R financing and the bank’s commercial real estate. Hatch has worked for TAB Bank for more than 15 years, serving most recently as senior vice president of commercial lending. Before TAB Bank, Hatch served as CFO of Flying J Insurance Services and director of relationship management at Select Portfolio Servicing. He received an MBA from the University of Phoenix in 2003.
- KeyBank has rehired Chad Blackburn as the Key Family Wealth Investment consultant for the Rocky Mountain region. He will deliver investment expertise and customized solutions to Key’s Idaho, Colorado and Utah ultra-high net worth clients and their families. Blackburn has nearly 20 years of experience in wealth management and financial services. He previously worked as a vice president and portfolio manager for Key Private Bank and has held leadership roles with Fidelity Investments and Idaho Central Credit Union. Blackburn earned a bachelor’s degree in finance from the University of Utah and an MBA from Brigham Young University.
ECONOMIC INDICATORS
- Housing in Salt Lake City is 2.52 times more expensive for millennials and Generation Z than it was for baby boomers, according to a study by RealtyHop. It studied housing multiples, or how many multiples of family income it would take to purchase a home, in 1970 and 2022 to determine how affordable it is for generations to purchase their first homes. The study was RealtyHop’s final study of a three-part Generational Wealth Gap series. In 1970 in Salt Lake City, the medium family income was $8,817 and the home value was $15,900, while the 2022 median family income was $101,026 and the median home value was $458,600. The highest multiple rate is in Los Angeles, at 3.73. The lowest is in Detroit, at 0.74. Details are at https://www.realtyhop.com/blog/generational-housing-gap-by-city/.
- Fifty-eight percent of surveyed Utahns would resort to whistleblowing to call out company malpractice, according to a study by Federal-Lawyer.com. Nationally, exactly half of employees surveyed would risk their careers to expose malpractice, while 50 percent would not. The highest rate of willingness to whistleblow is in Arkansas, at 83 percent. The lowest is in Idaho, at 30 percent. Utahns also rate their relationships with management at 7.6 out of 10, while the average is 6.5. The highest figure is in South Dakota, at 8, while Rhode Island has the lowest, at 4.3. Details are at https://federal-lawyer.com/to-speak-or-not-to-speak/.
- Provo, at No. 56, is the top-ranked Utah city for ratings of financial advisors, according to a study by MarketBeat.com. It used Google review scores to determine the best and worst advisors in the nation. The score in Provo is 4.6, which compares with the average Google review score nationally of 4.4. Other Utah cities in the rankings are No. 127 West Jordan (4.4), No. 136 Salt Lake City (4.4), and No. 166 West Valley City (4.3). The top-ranked city overall is Wilmington, Delaware, at 4.9. The worst figure, 4.2, is in Big Spring, Texas. Details are at https://www.marketbeat.com/originals/best-and-worst-cities-for-financial-advisors-us-2024/.
- Salt Lake City is ranked No. 63 on a list of “Most Expensive Metro Areas for Lawn Maintenance,” compiled by Lawn Love. It compared nearly 120 of the biggest U.S. metro areas based on three categories, including looking at household spending on lawn care and gardening services, lawn watering costs, and average yard sizes. It also considered mowing frequencies during fs
EDUCATION/TRAINING
- The Utah Small Business Administration District Office is accepting applications through April 28 for the THRIVE Emerging Leaders Reimagined Program. The office will be supporting two cohorts this year, one in Kaysville and the other in St. George, to support the needs of entrepreneurs across the state. Applications can be filed online at sbathrive.com. The program begins June 18 and runs through December. It is a free, intensive, six-month executive-level training aimed at empowering small-business owners with the knowledge, tools and resources necessary to elevate their enterprises to new heights of success. It combines online learning modules with in-person sessions and focuses on leadership enhancement, strategic financial management, market innovation, and fostering a thriving company culture.
HEALTHCARE
- Seek Labs, a Salt Lake City-based company developing next-generation molecular diagnostic systems and novel gene therapies, has appointed Randy Rasmussen to its board of directors. Rasmussen has over three decades of experience in molecular diagnostic development and management. He co-founded BioFire Diagnostics (previously Idaho Technology) in 1991, and went on to hold positions as president, chief operating officer and CEO. He currently serves as chairman of the board for BioUtah and as a board member for Quansys Biosciences. Rasmussen earned a bachelor’s degree in biochemistry from Utah State University and a Ph.D. in molecular biology from the University of Utah.
HOSPITALITY
- Western States Lodging and Management, based in South Jordan, has completed the Hoodoo Moab and Casitas at the Hoodoo Moab, Curio Collection by Hilton at 111 N. 100 W., Moab. Hoodoo Moab began welcoming guests in 2019 along with on-site restaurant Josie Wyatt’s Bar & Grille. Spa Moab was added to the campus in 2021. The Curio Collection by Hilton is a global portfolio of 160 hotels. Western States manages 94 properties.
INVESTMENT
- Oka, a Park City-based insurance company, has closed a $10 million investor raise. Lead investors included Aquiline Capital Partners LP and Firstminute Capital, which previously led Oka’s $7 million seed round, plus Overview Capital. The raise also attracted multiple angel investors with focused on climate technology and carbon-market innovation. Oka said proceeds will support its risk-based capital requirements and operational growth.
LOGISTICS
- Joel Ferry has been named as an ex officio member of the board of the Utah Inland Port Authority. Ferry is executive director of the Utah Department of Natural Resources. His background is in public service and agriculture. He has led the DNR since September 2022. He also has served as a state legislator and chairman of the Box Elder County Republican Party, and he has participated on several boards and councils focused on agriculture, wildlife conservation and community development. Ferry earned a bachelor’s degree in economics and finance from Utah State University.
MANUFACTURING
- Varex Imaging Corp., a Salt Lake City-based designer and manufacturer of X-ray imaging components, has entered into a senior secured revolving credit agreement for an initial aggregate principal amount of up to $155 million. Zions Bancorporation NA acted as lead arranger and bookrunner for the new facility. At the same time, Varex terminated its existing senior secured asset-based revolving credit agreement. Sam Maheshwari, chief financial officer of Varex, said the additional liquidity provides funds to address working capital and other general corporate purposes, including potential repayment of debt.
PARTNERSHIPS
- Beyond Inc., the Midvale-based parent company of Overstock, Bed Bath & Beyond, Zulily and other brands for homeowners and renters, has announced a partnership with X (formerly Twitter) to deliver custom short- and long-form content, develop customer acquisition and retention strategies, and spotlight the companies’ brands on key events and holidays. X has about 100 million-plus U.S. users.
PHILANTHROPY
- Bank of Utah, based in Ogden, recently presented a $2,500 “Hoops for Hope” check to The Family Place Utah. The bank donated $1 made for every point made by the Utah State University men’s basketball team at home games during the 2023-24 season. USU scored 1,231 points at home, so the bank rounded up to $2,500. The Family Place Utah offers fun, family-focused events in the community, as well as a variety of services such as therapy, educational workshops and the “Kid’s Place,” a free, temporary program that provides a safe, caring place for children to stay when caregivers need extra support.
REAL ESTATE
- Dennis Group, a Massachusetts-based design-build firm serving the food and beverage industry, has signed a 35,000-square-foot lease at 310 South Main Street in Salt Lake City. The announcement was made by JLL. Jami Marsh, JLL’s executive vice president; Amanda Lawson, vice president; and Jillian Johnson, vice president, represented the owner, The Horne Cos. Financial terms were not disclosed. 310 South Main Street features seven floors of available office space totaling 65,000 square feet, along with three contiguous full floors of up to 52,000 square feet, as well as smaller suites starting at 1,500 square feet.
RECOGNITIONS
- Sandy City recently honored the recipients of its annual One Sandy Awards, which recognize residents, organizations and businesses that have demonstrated exceptional dedication and commitment to improving the quality of life in Sandy. Community members submit award nominations, and Sandy’s administration chooses the finalists. The South Valley Chamber Apex Award recipient is Beth Colosimo, executive director, The Mill at Salt Lake Community College. Among the Citizen Awards, the recipients are Volunteer of the Year, Nicole Wicker; Mentor of the Year, Scott Jameson; Youth Changemaker, Nikyli Scherbel; Sandy Cultural Award, Charlotte Jordan; Empowerment & Belonging, Beverly Astin; and Mayor’s Trailblazer Award, Ray Berrett. Among Business Awards, the recipients are Small Business of the Year, Salt Cycles; Residents’ Choice, Amber Reid, Amber René Salon; Corporate Citizenship Award, Bobbi Norton, Shops of South Towne; and Smart Sandy Award, Cindy Robison, Chocolate Covered Wagon.
- Mountain America Credit Union, Sandy, has been ranked as the No. 1 small-business credit union lender for Small Business Administration loans in the U.S. by Callahan & Associates. Mountain America has received the recognition 20 years in a row. According to the SBA, as of 2023, the 33-plus million small businesses in the United States account for more than 99.9 percent of all businesses. These small businesses provide jobs to 61.7 million people, representing 46.4 percent of private-sector employees in the U.S.
RESTAURANTS
- Clean Eatz, a health food restaurant and online meal plan franchise, has announced that Amanda Hatfield and Suraj Manikundalam of Salt Lake City have won its Fork-A-Franchise Giveaway. It allows for them to join the franchise as café owners without incurring the traditional franchise costs. Hatfield has spent the past decade working in finance for technology companies. She will be opening the first Clean Eatz café in Utah in Salt Lake City this fall, with an interest in two more café locations in the market over the next five years. Clean Eatz recently surpassed 100 cafés nationwide. It launched in 2011 and began franchising in 2015.
RETAIL
- Beyond Inc., the Midvale-based parent company of Overstock, Bed Bath & Beyond, Zulily and other brands for homeowners and renters, has promoted Carlisha Robinson to chief customer officer. She will be responsible for all product management and user experience functions across the company, overseeing the customer file, enhancing the loyalty program, improving customer service, and launching product and service offerings. Robinson has 30 years of experience in technology and customer service. She joined the company as chief product officer in 2022.
TRANSPORTATION
- Young Automotive Group recently had a grand opening ceremony for its new headquarters building at 613 W. 500 N., Layton. Executives and employees began moving into the 145,000-square-foot facility late last year. It houses nearly 250 office spaces, a gallery, and an automotive parts warehouse. It also houses the offices of the Young Automotive Group’s nonprofit, the Young Caring for Our Young Foundation. The Young Automotive Group has 29 dealerships in Utah, Idaho and Montana and more than 1,800 employees.