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BANKING
• Altabank, American Fork, has announced several personnel changes. JR Vera and Toby Reed have been hired as commercial loan officers in the Salt Lake City Commercial Banking Center. They will work with the bank’s largest commercial customers along the Wasatch Front and Wasatch Back. Vera has 19 years of commercial banking experience, including working at Chase and Commercial Funding Inc. Reed previously spent 18 years in commercial banking at Chase. Kristi Summers has been appointed residential construction loan officer, working out of the bank’s North Logan branch. She has worked for Altabank since 2020. She previously served as CEO of the Cache Valley Home Builders Association. Russel Packer has joined Altabank as a loan officer in the Draper branch. Packer has 11 years of experience as a residential mortgage lender and commercial real estate broker, spending the past five years as a commercial banker at Wells Fargo. Joshua Vinecke recently joined Altabank as a relationship manager and loan officer in Riverton. Vinecke works with a number of lending products, including SBA loans. He began his banking career in 2002.
CONSTRUCTION
• Northwest Pipe Co., based in Vancouver, Washington, has been selected by Ames Construction and the Central Utah Water Conservancy District to manufacture engineered steel pipe for Salem Reach 1 of the Spanish Fork Santaquin Pipeline Project. The Salem Reach 1 portion will extend the Utah Lake System pipeline from Spanish Fork through Salem toward its terminus in Santaquin. The Utah Lake System pipeline is a feature of the Bonneville Unit of the Central Utah Project, the largest and most complex water resources development project undertaken by the Department of Interior in Utah. Northwest Pipe Co. is manufacturing over 2,500 tons of 60-inch-diameter engineered steel pipeline with cement mortar lining and a tape wrap coating with a cement mortar overcoat. The company is producing approximately 12,200 feet of pipe for the project at its Tracy, California, facility and expects delivery to start in the third quarter of this year.
ECONOMIC INDICATORS
• Summit County leads places in Utah with the highest per capita wealth, according to a new study by SmartAsset. It measured the amount of investment income being generated in each county, in addition to the per capita income and median home value to find the wealthiest places. Summit County was followed, in order, by Wasatch, Utah, Salt Lake, Morgan, Davis, Washington, Grand, Cache and Weber counties. Details are at https://smartasset.com/investing/asset-allocation-calculator#Utah.
• The average Utahn spends $1,910 per month on the 10 most common household bills, according to the “2022 State by State Bill Pay Market Report” by Doxo. That makes Utah the No. 26 most expensive state for household bills and Utah’s amount is 4.6 percent lower than the national average of $2,003. Salt Lake City residents pay $1,813 per month, making it the No. 30 most expensive city in Utah for household bills. The most expensive state is Hawaii, at $2,911 per month. The least expensive is West Virginia, at $1,452.
• Utah workers would have each lost $2,185 if they had opted for their salaries to be partly paid in crypto, according to a survey by CouponBirds. The survey, conducted prior to the recent crash in crypto currencies, revealed that the average Utah employee would have liked to have received 33 percent of their monthly salary in a virtual currency. The company applied that percentage to the current value of Bitcoin and determined how much each employee would have hypothetically lost had they opted for partial crypto payments from January 2022. Employees in Montana would have made the biggest losses following the crash ($4,375.39). The smallest amount was $575.73 in Arkansas. Details are at https://www.couponbirds.com/research-center/data/crypto-compensation-part-payment-in-cryptocurrency.
• Utah is ranked No. 36 on a list of “State Economies with the Most Racial Equality,” compiled by WalletHub. It compared the 50 states and the District of Columbia across eight key metrics, comparing the difference between white and black Americans in areas such as annual income, unemployment rate and homeownership rate. The top-ranked state is Alaska. The No. 51 location is the District of Columbia. Details are at https://wallethub.com/edu/state-economies-with-most-racial-equality/75810/.
• Utah is ranked No. 39 among 40 states on “2022’s Best States for Beekeeping,” compiled by Lawn Love. Among the key metrics, Utah was No. 36 for honey yield per colony, No. 35 for average price per pound of honey, No. 34 for number of farmers markets offering honey, and No. 27 for number of beekeepers associations. The report indicates that the desert is not an ideal spot for starting a hive of honeybees, which require long bloom times in order for pollination to be effective. The top-ranked state is California. Nebraska is No. 40. Details are at https://lawnlove.com/blog/best-states-for-beekeeping/.
• Salt Lake City is ranked No. 4 and Utah is No. 27 on list of most inclusive LGBTQ+ states and metro areas, compiled by Adzuna. It analyzed over 8.3 million advertised job vacancies across the United States in May 2022 and over 5.5 million in May 2021, revealing the cities, states and sectors that are the most inclusive for the LGBTQ+ community, based on the proportion of job ads that specifically emphasize that job seekers of all sexual orientations are encouraged to apply. The top-ranked city is Seattle. The top-ranked state is Alaska. The bottom-ranked state is Iowa.
EDUCATION/TRAINING
• The South Valley Chamber of Commerce will offer its Business Institute on Tuesdays Aug. 30-Nov. 8, 4-6 p.m., at The Mill at SLCC, 9750 S. 300 W., Sandy. The cost is $600. Details are at themillslcc.com/svc-eep.
FOOD
• Kodiak, a Park City-based brand known for breakfast and snacking products, has hired actor/producer Zac Efron as its first chief brand officer. He will be involved in new product innovations, brand strategy, national brand campaigns, and Kodiak’s giving-back initiatives. Efron also becomes a shareholder in the company and has joined its board of directors.
HOSPITALITY
• Zeus Living, a San Francisco-based company offering a property management and hospitality platform, has entered the Utah market, adding 13 properties in the state to its portfolio. The units range from one bedroom to three bedrooms, and are located in the Provo-Orem region. The company looks after homes that can be rented for 30 days or longer, providing full-service property management and 24/7 support to both owners and residents. To date, Zeus Living has hosted more than 40,000 residents for 1.7 million nights at 125 destinations.
INTERNATIONAL
• Utah businesses may apply through July 1 to participate in an upcoming trade mission to Israel and the United Arab Emirates, set for Sept. 8-17 and organized by World Trade Center Utah and the Governor’s Office of Economic Opportunity. Prospective participants will be evaluated for their business’ readiness to succeed on the trade mission and fit within the focus areas. The agenda will include meetings and luncheons with government officials and business organizations, networking receptions and a few cultural activities. The participation fee is $3,500, which includes local transportation, networking receptions and many meals. Participants will separately cover their own airfare and lodging. Utah small businesses may be eligible for grants administered by WTC Utah to offset some travel expenses and to receive customized trade services at no cost. Details are at https://wtcutah.com/trade-landing/iu22/.
INVESTMENTS
• WebBank, a Salt Lake City-chartered industrial bank, has made an investment at a $200 million valuation in iCreditWorks, a fintech platform company based in New Jersey. ICreditWorks said the investment will allow it to accelerate the commercial growth of its omni-channel platform that provides access to a suite of point-of-sale financing products. ICreditWorks was represented by Truist Financial in the transaction.
• LiveView Technologies, a Salt Lake City-based company focused on intelligent safety and security ecosystems, has raised $50 million in Series B funding in collaboration with growth investment firm Sorenson Capital. Also participating in the round were The Larry H. Miller Group and previous investment partners Lead Edge Capital and Pelion Venture Partners. Rob Rueckert, partner at Sorenson Capital, will join LiveView’s board of directors. The company said it will use the funds for more advanced product research and development; recruiting technical, manufacturing and business talent; and driving expansion into the international security market.
• The Larry H. Miller Co., Sandy, has invested in Recyclops Inc., a Salt Lake City-based startup that focuses on sustainability solutions, starting with recycling. The amount was not disclosed. Launched in 2014, Recyclops applies technology to environmental logistics, collecting hard-to-recycle materials and scaling recycling in rural areas. LHM also announced a partnership with Recyclops to use its service in its operating businesses and residential community developments to improve sustainability efforts in recycling and reuse. Recyclops is in 30 states and in 2021 enabled families to recycle and reuse over 1,475,465 pounds of waste, diverting it from landfills.
LAW
• Mayer Brown has added four partners for its Salt Lake City office, adding capabilities in emerging companies and venture capital in the region and nationwide. Joining the firm are Craig Frame, Jim Kelly, Aaron Murdock and Matt Wells. They will advise companies at all stages of growth in connection with corporate, securities, financings and M&A matters. Kelly advises a wide range of investment management firms, including venture capital firms. Mayer Brown opened the Salt Lake City office earlier this year and it now includes 13 partners.
• Parr Brown Gee & Loveless has announced that Terry E. Welch will return to the firm as a shareholder and board member on July 8. Welch worked at Parr Brown from 1990-2019, when he left to serve as a mission president for the Church of Jesus Christ of Latter-day Saints. He is a past president and longtime shareholder. He remained affiliated as “of counsel” during his three-year absence. Welch will focus on assisting clients with trial and litigation matters of all types. He has broad experience in complex litigation, representing multi-national, national and local businesses, and led the firm’s personal injury and wrongful death practice for more than two decades. Welch received his J.D. from the University of Utah in 1990 and a bachelor of arts from the UofU in 1987.
PHILANTHROPY
• Nomi Health, an Orem-based healthcare company, has contributed $5 million to an initiative by nonprofit generic pharmaceutical company Civica Inc., based in Lehi, to help accelerate the production of low-cost insulin for people living with diabetes in the U.S. Civica launched a program to develop, manufacture and distribute insulins that, once approved, will be available to people with diabetes at significantly lower prices than those currently on the market. It plans to sell its insulins for no more than $30 per vial and $55 for a box of five pen cartridges.
• A group of nursing students and faculty from Draper-based Joyce University of Nursing and Health Sciences recently traveled to Guatemala to complete clinical education while providing medical support to communities in need. Joyce’s international clinical program partnered with nonprofit organization I Am Hope Guatemala. Students worked with the organization and their collaborative healthcare partners to support their mission and programs, which include education, mental health, logistical and medical support to single mothers and children who have been victims of domestic abuse. Over the course of two weeks, Joyce students worked with doctors and nurses in the National Hospital in Antigua in addition to helping set up and run outreach clinics that provided primary care services for surrounding villages. The program required students to work full-time, typically over 12-hour days, while also maintaining their studies virtually.
• Procter & Gamble is partnering with the Bonneville Environmental Foundation’s Business for Water Stewardship to help fund Ducks Unlimited projects and several more in the western United States. Ducks Unlimited is leading a group of supporting organizations to improve Lower Bear River and Great Salt Lake water availability by fixing issues with quantity and quality in their watersheds by enhancing 625 acres of wetland habitat and increasing irrigation efficiency on 230 acres of farmland. Working with a multi-generational farm and ranch family, Ducks Unlimited will convert over 5,000 feet of earthen ditch to pipe to improve irrigation efficiency and provide supplemental water to wetlands on two sites in Box Elder County. By improving water management, these projects will allow better control of invasive species crowding out native plants and impacting waterbirds. The Ducks Unlimited projects are also supported by the Marathon Petroleum Foundation and Little Mountain Holdings LLC.
REAL ESTATE
• Brixton Capital, based in California, has acquired American Fork Center, a 149,922-square-foot shopping center at 648 E. State S., American Fork, for an undisclosed amount in an off-market transaction. The seller is a partnership between Western Avenue Capital and Alto Funds. The shopping center is 100 percent leased. Brixton said it plans to upgrade the center through re-painting, parking lot resurfacing, landscaping improvements and signage upgrades. Mountain West Commercial Real Estate sourced the opportunity for Brixton and will serve as the leasing team for the property.
• Colliers has announced a successful open house of the newly renovated Sorenson Research Park at 4393 S. Riverboat Road, Taylorsville. The park experienced an entire building revamp of all common areas, lobby space, lighting and landscaping. The newly renovated building has approximately 62,000 square feet of office space across three floors. Colliers brokers Chris Kirk and Rusty Lugo will represent the landlord in leasing availability.
• Gantry, a San Francisco-based commercial mortgage banking firm, has secured $7.7 million of permanent financing for two self-storage facilities totaling 135,000 square feet of rentable space. The assets include Storage Corner Group’s 60,000-square-foot Uptown Storage in Salt Lake City and 75,000-square-foot Central Storage and Business Park in St. George. The concurrent seven-year, fixed-rate loans with upfront interest-only periods were placed with one of Gantry’s correspondent life company lenders.
RECOGNITIONS
• ASEA, a Salt Lake City-based health company focused on redox technology, recently earned the Choice Humanitarian Corporate Impact Award, supporting Choice Humanitarian’s mission to reduce global poverty and build self-reliant, resilient communities around the world. Six years ago, the ASEA Advancing Life Foundation embarked on their legacy work with Choice Humanitarian. Over the years, together they have taken the Inta Kara Vocational Center from the initial concept to the successful opening of the school. The center has produced 156 graduates through five accredited vocational courses. ASEA’s latest commitment of support with Choice Humanitarian is in Navajo Nation, helping to reverse decades of food insecurity with hoophouses, a type of greenhouse, that will help to break the cycles of poverty.
• Instructure, a Salt Lake City-based education technology company, recently won five Telly Awards for outstanding video production for two new videos. The video “Education for All” was recognized for excellence in three categories: gold for branded content (writing), silver for branded content (corporate image), and silver for branded content (diversity and inclusion). The video “The Ah Ha Moment” won silver for branded content (promotional) and for branded content (directing categories). The Telly Awards honor excellence in video and television across all screens and is judged by a group of over 200 video and television experts.
RECREATION
• Black Desert Resort Golf Course, Ivins, has hired Brenton Rice as general manager, Ken Yates as golf course superintendent and Jordan Rhodes as assistant golf course superintendent. The facility has nine holes scheduled to open to daily-fee play this November, with the remaining nine holes opening in spring of 2023. Rice has 15-plus years of club management and leadership experience in operating upscale clubs, most recently as executive vice president for The Bay Club Co., where he oversaw membership sales and strategic planning across 24 properties in California and Oregon. He began his career in the golf and hospitality industry in 2006, working as an assistant golf professional at Big Horn Golf Club in Palm Desert, California. Yates will lead Black Desert’s agronomy team and oversee grow-in and daily maintenance of the par-72 course, expansive practice facility and the property’s 36-hole illuminated putting course. Yates has 33 years of turf management experience, most recently serving as a division manager at Casa Verde Golf, an Arizona-based golf course construction and renovation company. Rhodes is now in his fifth year working in turf grass management, working his way from agronomy crewmember to assistant superintendent in just three years. He comes to Black Desert from Riverside Country Club in Provo. His education includes a bachelor of science degree in business administration from Stevens Henager College in Orem.
• Golftec, a provider of golf lessons and club fittings, has relocated an instruction and club-fitting center to 210 N. Union Ave., Farmington. The 3,000-square-foot facility features four indoor bays, an indoor putting green and lessons. The center will be led by Karl Doller, center manager and director of instruction. Doller has been with Golftec since 2015 and has given more than 6,000 lessons.
SERVICES
• SkySquad, based in Maryland, has launched at Salt Lake City International Airport to help travelers eliminate stress at the airport. It is SkySquad’s seventh operating airport. He company is a technology-enabled travel startup on a mission to shift the travel industry’s focus to improving the customer experience. It provides a new way to book airport assistance (including unloading, security clearance and gate navigation) through its online platform, with rates starting at just $49.
TECHNOLOGY
• Midigator, an American Fork-based chargeback technology company, has hired Joe Emig as senior vice president of global sales. Emig has more than 20 years of experience in the payments industry and has career experience as both a lawyer and business development leader. He most recently was senior vice president of F.I. and tech partnerships at Global Payments and held previous senior-level roles with U.S. and international acquirers.
• Instructure, a Salt Lake City-based education technology company, has named Shiren Vijiasingam as chief product officer. Vijiasingam has over two decades of product experience and more than 10 years in education technology. He previously served as chief product officer at Newsela and at General Assembly. Vijiasingam succeeds Mitch Benson, who served in the role for nearly eight years.
• Reltio, a Park City-based data management software-as-a-service company serving businesses, has appointed Eric Cross as chief revenue officer. Cross has more than two decades of leadership experience, including serving as chief revenue officer at Appian; serving as a member of the senior operating team at Apigee; and serving in senior leadership roles at Blue Coat Systems, Citrix Systems, PeopleSoft and Salesforce.com.
• Consensus, a Lehi-based company offering an intelligent demo automation platform, has appointed Mike Trionfo as chief product and technology officer. He will lead product management, product design and engineering as a single unified group. Trionfo’s experience includes being co-founder of Entrata and co-founder and chief technology officer at Homie. He also led large engineering teams at Domo and IBFX.
• Scorpion, a Salt Lake City-based provider of technology and services for local businesses, has named Bridgette Moore as chief people officer. She will lead Scorpion’s people strategy and help promote a supportive, performance-oriented and inclusive environment. Moore has more than 20 years of experience, most recently serving as global chief people officer at The Pharm. She also spent more than a decade at Allstate Insurance Co. headquarters, where she most recently served as vice president of human resources and growth businesses.