Industry Briefs are provided as a free service to our readers. Company news information may be sent to brice@slenterprise.com. The submission deadline is one week before publication.
BANKING
• First Utah Bank has opened a branch at 3601 N. Digital Drive, Lehi. It is the bank’s seventh location. Sonya Bankowski has been named vice president and branch manager of the Lehi office in addition to the bank’s Sandy office. Bankowski has been with First Utah Bank since September 2010.
• KeyBank has opened a full-service branch at 717 W. Main, American Fork. It is the bank’s first new branch in the western half of the U.S. in more than 10 years. Construction was completed in April and the doors opened to the public May 9.
• Zions Bank, based in Salt Lake City, has announced changes to its overdraft practices, effective July 13. It is expected to significantly reduce overdraft and non-sufficient funds fees for its consumer and small-business deposit accounts. The bank estimates it will save its clients nearly $7.4 million in fees annually while helping them better manage their overdraft experiences. More than 60,000 Zions Bank client accounts will benefit from these changes, it said.
CONTESTS
• Nominations will be accepted through September for the annual life sciences awards, which are presented each year as part of the annual BioHive Summit. BioUtah presents the awards to individuals who have made a significant impact in furthering the life sciences industry in Utah. The awards include the Lifetime Achievement Award, Entrepreneur of the Year, Executive of the Year, Innovation Impact Award and Friend of the Industry Award. BioUtah’s board members will review each nomination and select the winners of each award, to be announced at the summit Nov. 10. Nominations may be made at https://bioutah.org/biohive-summit-award-nominations/.
CORPORATE
• PolarityTE Inc., a Salt Lake City-based biotechnology company developing regenerative tissue products and biomaterials, has entered into securities purchase agreements with a single healthcare-focused institutional investor for the purchase and sale of more than 1.5 million shares of its common stock at a purchase price of $2.525 per share in a registered direct offering priced at-the-market under Nasdaq rules. The investor’s name was not disclosed. In a concurrent private placement, PolarityTE also agreed to issue and sell to the investor more than 1.5 million shares of common stock at the same purchase price as in the registered direct offering. PolarityTE also agreed to issue to the investor in the offerings unregistered preferred investment options to purchase up to an aggregate of more than 3.1 million shares of common stock. The unregistered investment options will be exercisable immediately upon issuance at an exercise price of $2.40 per share and will expire five years from the date of issuance. Total gross proceeds to PolarityTE from both offerings is expected to be about $8 million before deducting placement agent fees and other offering expenses payable by the company. It said it intends to use the net proceeds from the offerings for general corporate purposes and working capital, including, among other things, capital expenditures and research and development expenses. H.C. Wainwright & Co. is acting as the exclusive placement agent for the offerings.
ECONOMIC INDICATORS
• Weber County leads all of Utah on a list of places where people hold the least credit card debt, according to SmartAsset. It considered the lowest per capita credit card debts relative to income and wealth. Weber County is followed, in order, by Wasatch, Washington, Box Elder, Uintah, Davis, Tooele, Carbon, Summit and Salt Lake counties. Details are at https://smartasset.com/credit-cards/credit-card-calculator#Utah.
• Salt Lake City is ranked No. 47 on a list of “2022’s Best Cities to Get (and Stay) Married,” compiled by LawnStarter. It 190 of the biggest U.S. cities across nine key indicators of nuptial success, including current marriage rates, five-year divorce rates and wedding-venue access. The top-ranked city is Bellevue, Washington. The bottom-ranked city is Montgomery, Alabama. Details are at https://www.lawnstarter.com/blog/studies/best-cities-get-married/.
• Salt Lake City is ranked No. 4 on a list of “most well-read cities in America,” compiled by online learning platform Preply. It compared the largest 200 cities in the U.S. across five categories: education, reading spots, resources, events and awards. The top-ranked city is Orange, California. The bottom-ranked city is Laredo, Texas. Details are at https://preply.com/en/blog/most-well-read-cities-in-usa/.
• Salt Lake City is ranked No. 32 on list of “2022’s Best Cities for Single Dads,” compiled by LawnStarter. It compared 200 of the biggest U.S. cities based on 36 factors indicating single dad-friendliness, such as child care access and costs, social programs and dad support groups. The top-ranked city is Naperville, Illinois. The No. 200 city is Sunrise Manor, Nevada. Details are at https://www.lawnstarter.com/blog/studies/best-cities-single-dads/.
EDUCATION/TRAINING
• Salt Lake Community College’s Executive Certificate of Global Business Management, a 10-week course, will take place Wednesdays from Sept. 14-Nov. 16, 5:30-8:30 p.m., at 9690 S. 300 W., Sandy. The registration deadline is Aug. 12. The course is offered to business executives, professionals, working staff, entrepreneurs and qualified students who wish to increase their knowledge and improve their strategies in global business practices. The cost is $995. Discounts are available for multiple registrants from same company, and companies may also qualify for 40 percent off using the Utah Custom Fit Training program. Details are at https://themillatslcc.com/education/certificate-global-management/.
• ChamberWest has announced that its Leadership Institute will have its meetings Sept 14, 2022, through June 8, 2023. The program is designed to challenge and engage leaders in professional and personal growth while inspiring an entrepreneurial spirit in building a better community. The cost is $999 for chamber members and $1,200 for nonmembers registered prior to Aug. 16. Details are at chamberwest.org or (801) 977-8755.
ENVIRONMENT
• The Utah “Clear the Air” Challenge will take place starting July 1. Businesses can register their teams of coworkers, family or friends at cleartheairchallenge.org. The month-long competition offers the chance to reduce vehicle emissions by choosing alternative methods of transportation using TravelWise strategies, such as carpooling, using public transit, teleworking, trip chaining, walking and riding a bike or scooter. The annual program seeks to eliminate 100,000 single-occupant trips to save 2 million miles.
• The Central Wasatch Commission has released an “environmental dashboard” to the public, which may access it at https://cwc.utah.gov/environmental-dashboard/. The dashboard is designed to be a tool for the public, land managers, policy makers and technical users to learn about the historic and current environmental conditions of the Central Wasatch. The dashboard contains five environmental elements: air quality and climate, geology and soil, vegetation communities, water, and wildlife, and existing data for each element has been gathered and presented for public access. Starting in December 2022, the build-out process for an additional environmental dashboard will begin. The Central Wasatch Commission is an inter-governmental entity that seeks to engage the public, build consensus and coordinate actions in the Central Wasatch Mountains.
HEALTHCARE
• Nomi Health, an Orem-based healthcare company, has opened no-cost mobile COVID testing sites in Utah. The locations include the Sandy Library, 10100 Petunia Way, Sandy; Ogden Regional Medical Center, 5475 S. 500 E., Ogden; West Valley City Centennial Park, 5405 W. 3100 S., West Valley City; Provo Towne Centre Mall, 1200 Towne Centre Blvd., Provo; SLC1 West Parking Lot, 777 N. 5600 W., Salt Lake City. Each site is providing tests on a first-come, first-served basis and are requesting proof of insurance. The SLC1 site also will support the “Test to Travel” program, offering Rapid Molecular Travel Testing for $179, with results within 30 minutes. No appointment is required but registration is suggested to ensure the most rapid service. Registration can be completed at https://patient.nomihealth.com/signup/7?referrer=nomi_lp_ut.
FOOD
• Chef Shamy, a Salt Lake City-based maker of craft butters, has announced plans to rebrand as Better Butter. The company was created with the idea of providing friends and family with homemade garlic butter during the holiday season. After moving operations to a small commercial kitchen and increasing production levels, Chef Shamy began adding flavors. Better Butter products will be available in Sam’s Club, Sprouts and other grocery stores across the U.S.
INSURANCE
• PCF Insurance Services, a Lehi-based insurance brokerage firm, has completed a partnership with Mike Haffar Insurance Services Inc., located in West Covina, California. Haffar has more than 20 years of experience in the healthcare industry and serves as an insurance and risk advisor for physicians, medical clinics, medical groups, surgery centers and hospitals.
INTERNATIONAL
• Goods exports from Utah to China grew 31 percent in 2021, to $1 billion, according to the U.S.-China Business Council. Top exports include Utah meat products, navigational and measurement instruments, chemical preparations, crops, and medical equipment and supplies. Utah’s meat product exports to China nearly quadrupled in 2021. Service exports, which include tourism and college tuition paid by students from China, dropped 32 percent in 2020, the most recent year data is available. With travel exports largely out of the picture, education, credit-related services, and software distribution royalties were Utah’s main services exports to China. Exports of goods and services from Utah to China supported 5,790 American jobs in 2020. China is the No. 4 international market for Utah exports.
INVESTMENTS
• RET Ventures, based in Park City, has appointed Jerry Davis as a senior advisor, hired Jacob Zornes as chief financial officer and promoted three members of its investment team. RET is a capital firm focused on technologies for the multifamily, single-family rental and broader real estate asset classes. Davis has 33 years of experience in real estate, including about 30 years at UDR, including serving as the firm’s president and COO from 2013 to 2020. Zornes has approximately 15 years of experience in the private equity/venture capital and real estate sectors, most recently serving as a managing director at UMB Fund Services. Before that, he served as director of finance at Peterson Partners. Zornes earned an MBA from Weber State University and a B.S. in business administration from Brigham Young University. Aaron Ru was promoted to principal. He joined RET in 2021. Prior ot that, he invested in early-stage and growth-stage technology companies at Naspers Ventures, led strategic initiatives and M&A at Pinterest and United Talent Agency, and served as an investment banker at UBS. Both Jameson Hartman and Sam Kroll were promoted to vice president. Both joined RET in 2020. Altough both work across the real estate technology sector, Hartman has heavily focused on solutions relating to property operations and sustainability, while Kroll has built expertise in technologies that enhance the real estate underwriting, acquisition and asset management process.
MINING
• Granite, a California-based construction and construction materials company, has acquired and will start development on a new aggregate operation near Grantsville. The site covers approximately 640 acres. The material comes from an alluvial deposit containing 99 million tons of recoverable rock, the company said. It currently is designing the Grantsville facility, which is expected to begin production in July.
NONPROFITS
• The Parkinson Foundation has appointed Cory Pinegar as president and board member of the newly formed Rocky Mountain Chapter Board of Advisors. Pinegard, whose father was diagnosed with the disease in 2016, will work to raise awareness of the disease as well as advocacy for those affected by it. Pinegar is CEO of Utah-based CallForce, a startup helping dental practices increase patient engagement and revenue, having grown the company since 2016 to nearly 3,000 clients and a workforce of close to 200 employees. In 2021, he founded remote staffing company Teem.
• Utah Clean Energy, a nonprofit organization that focuses on clean energy transformation, has hired Keicha Christiansen, Sam Karthan and Logan Mitchell. Christiansen, development and operations assistant, supports the development director with a variety of tasks, including database entry and management, donor acknowledgements, prospect research and donor events. She also supports staff members with administrative and operations tasks. Christiansen has a background in marketing, corporate communications, public relations, event planning and nonprofit leadership. Prior to joining Utah Clean Energy, she was the community outreach administrator for a Utah credit union, and served as executive director of Family Counseling Service of Northern Utah. She also is an active, licensed real estate agent. Her education includes attending Weber State University. Karthan is Utah Clean Energy’s project and program coordinator. He earned a bachelor of science degree in environmental studies and sustainability from the University of Utah and is pursuing a certification in project management. Mitchell is Utah Clean Energy’s climate scientist and energy analyst. His research has focused on topics from greenhouse gases in Antarctic ice cores to evaluating emissions and monitoring urban air quality with TRAX trains, to studying Utah’s history of air quality. In addition to climate communication, he will help represent Utah Clean Energy in regulatory dockets and proceedings before the Utah Public Service Commission. He also is affiliated faculty at the University of Utah.
• Thread, a Provo-based company, has created a nonprofit organization called The Carry On Foundation. The foundation’s mission is to utilize action sports to teach resilience skills; promote mental health; and foster the development of confidence, competence, connection, and character. A program already underway is a skateboarding program at its own private skate park in Lehi. The skateboarding facility offers a wide variety of lessons designed for progression and building confidence from beginners to advanced ages 4 through 14.
• ULI Utah, a nonprofit, nonpartisan research and education organization, has named Hoang Nguyen as chair of its new Diversity, Equity & Inclusion Committee. She is the managing partner of Sapa Investments (including Sapa Gastronomy Group, Sapa Investments Real Estate Holdings and G1 Construction) and the CEO of Dragonfly Wellness and Foundry Food Hub, a nonprofit food equality enterprise. She is the current chair of the Midtown Business District Board, which serves 500 local businesses in the downtown Salt Lake City area.
REAL ESTATE
• Live Nite Events, a Salt Lake City-based event production company, and local hospitality enterprise Realine Group have announced the joint acquisition of Sky, a venue and event space at 149 Pierpont Ave. in downtown Salt Lake City. Financial terms were not disclosed. The 15,000 square-foot open-air building had its groundbreaking in 2015. It features state-of-the-art sound and lighting, 20 VIP suites and a retractable glass roof. Sky also is home to Trellis, a rooftop bar. Other live-music venues and restaurant/bars under joint ownership and management by Live Nite Events and Realine Group include Soundwell, a 600-person capacity venue on 200 South, and Ivy & Varley, a pair of restaurants/bars.
• Cowboy Partners, based in Salt Lake City, has sold a two-property, 282-unit multifamily portfolio in Clearfield to Boise-based Roundhouse for an undisclosed amount. The properties are Oakstone Apartments, a 210-unit property built in 1998, and Country Oaks, a 72-unit asset built in 2000. Institutional Property Advisors, a division of Marcus & Millichap, announced the sale. Danny Shin, IPA senior managing director investments, and Brock Zylstra, IPA senior vice president of investments, represented Cowboy Partners and procured the buyer.
• Mountain View Village, an 85-acre mixed-use destination lifestyle center, will have its Phase II grand opening kickoff celebration June 30-July 4. It will feature concerts, fireworks and free family fun daily. Details are at https://bit.ly/3xoTad2.
• Kiln recently held a celebration for the upgrade and expansion of its first flexible office and coworking community at 26 S. Rio Grande St., Suite 2072, at The Gateway in Salt Lake City. The project increased workspace by 21,000 square feet, for a total of 54,000 square feet. Founded in 2018, Kiln spaces are home to more than 2,500 members and 300 businesses across its seven locations in Utah, Colorado and Idaho.
RECOGNITIONS
• Luke Thomas and Marlon Morales have been named Utah Small Business Lenders of the Year for 2021 by MoFi, a nonprofit community-based lender. MoFi presents the award annually to its most prolific commercial and small-business lending partners, individuals who have demonstrated an outstanding commitment to meeting the needs of entrepreneurs in their community. Thomas is a small business banker at WaFd Bank in Salt Lake City. He began his banking career in 2012 in Alaska and has held roles as a personal banker, small business banker, branch manager, payroll consultant and commercial lender. He joined WaFd Bank last year. Morales is vice president and business banking relationship manager at U.S. Bank in Salt Lake City. He has 20 years of experience in financial services, joining U.S. Bank in 2019. MoFi also named U.S. Bank as Utah Lender Partner of the Year, presented by referring more business owners to MoFi than any other lending institution in the state. In 2021, MoFi provided loans to 261 small businesses across Utah.
RESTAURANTS
• Black Rifle Coffee Co., Salt Lake City, has open a coffee shop at 713 E. 800 N., Spanish Fork. It offers a coffee and espresso bar with more than 15 coffee blends, a grab-and-go menu for breakfast, lunch, sweets and BRCC merchandise. It is the company’s third brick-and-mortar store in Utah.
RETAIL
• Jane.com, a boutique marketplace for women’s fashion items, accessories, home decor, children’s clothing and more, has appointed JP Knab as chief marketing officer. Knab has more than 20 years of experience as an online marketing professional, most recently serving as senior vice president of marketing at digital security company Aura. He previously served as CMO of Overstock.com.