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CONSTRUCTION
•Big-D Constructionhas completed the first of 18 cabins atVictory Ranchin Kamas. The planned golfing and outdoor community will include two lodges, golf club, pools, golf course and private access to Provo River for fly fishing, mountain bike trails, upland bird hunting, and sporting clays. Cabin size will range from 2,200 square feet to 3,300 square feet. Victory Ranch plans to add additional cabins over the next few years.
CONTESTS
• TheUtah Venture Entrepreneur Forum(UVEF) is accepting applications until Aug. 19 for its“UVEF Top 25 Under 5” Awards. The awards honor the best emerging companies established by entrepreneurs in Utah. Winners will be selected by a panel of the UVEF board of directors. To qualify, companies must have registered with the state on or after Jan. 1, 2011. Nominations will be accepted from both revenue and pre-revenue companies. Twenty-five companies will be recognized in two categories: pre-revenue companies that have an outstanding business model that demonstrates scalability, and revenue companies that are leading in a combination of economic standards, including revenue and employee base. All submitted information will be kept confidential. Winners will be recognized at the UVEF award event in September. Details are at http://uvef.com/recognition/top-25-under-5/25-under-5-application/.
DIVIDENDS
• The board of directors ofHolly Energy Partners LPhas declared a cash distribution of 58.5 cents per unit for the 2016 second quarter. It will be paid Aug. 12 to unitholders of record Aug. 1. The distribution is a 7.3 percent increase from the 54.5 cents-per-unit distribution for the same quarter last year and represents the 47th consecutive quarterly distribution increase. The company, through its subsidiaries and joint ventures, owns and/or operates petroleum product and crude gathering pipelines, tankage and terminals in Utah and nine other states.
ECONOMIC INDICATORS
•Utahexports totaled about $870 million in May, according to a report from theWorld Trade Center Utah. That is down 17.81 percent from $1.06 billion reported in May 2015 and down from $1.24 billion in April of this year. Through May, 2016 had seen $5.07 billion in Utah exports, down 32.34 from the same period in 2015. About 28.5 percent of Utah exports in May were metals. The top five export destinations were Hong Kong, Canada, United Kingdom, Mexico and Taiwan.
GOVERNMENT
• TheUtah Division of Water Resources(DWRe) has hiredFaye Rutishauseras its new water conservation manager. Rutishauser will take over water conservation management responsibilities from water conservation and education manager Eric Klotz. Rutishauser has spent her more-than-10-year career working in water conservation. Rutishauser worked for the Utah Division of Water Resources before working for Red Butte Gardens, followed by starting her own nursery, New Horizons Nursery, in 2009.
• TheUtah Division of Consumer Protectionhas citedPerformax Gyms Inc., Clearfield, for closing its doors without notifying members, failing to offer refunds and continuing to charge bank and credit card accounts after the company’s Clearfield location was shuttered in late June — violations of the Health Spa Services Protection Act and the Utah Consumer Sales Practices Act, according to the division. About 1,700 Performax Gym contracts were affected. Former Performax members may be entitled to refunds for charges that occurred after the gym’s closure and prorated refunds of gym membership fees paid in advance, according to the division. Consumers owed money have been asked to file complaints with the division by Sept. 1 at www.consumerprotection.utah.gov. On the website, consumers can click on the “Performax Gyms Closure Complaints” link to file a complaint.
INVESTMENT
•Eastwind Networks, Salt Lake City, has announced it has secured a $5.5 million seed extension round led bySignal Peak Ventures, Salt Lake City.Cybersecurity Investments LLCalso participated in the round, bringing total seed funding for the company to $6.5 million. Eastwind provides a hybrid network breach detection system designed to meet the needs of government agencies and enterprise IT security systems. The funding will be used for product development and research and development, as well as expanding its sales and marketing departments to meet increased demand for its system.
•Kodiak Cakes, Park City, has received a minority investment fromSunrise Strategic Partners LLC, based in Boulder, Colorado. Specifics of the investment were not disclosed. Kodiak Cakes produces breakfast items, including pancake/waffle mixes, flapjack/muffin cups and syrups. Sunrise said its investment will enable Kodiak Cakes to accelerate growth by increasing distribution to new channels, supporting innovation and expanding the Kodiak Cakes team.
PHILANTHROPY
• More than 90 outdoor brands signed up to participate in the first-of-its-kind“Give Back Badge”program supporting the“Parks4Kids” Initiative.Outdoor Retailer, in partnership with theOutdoor Foundation, started the program in April in an effort to engage the industry in a collective effort to get more kids recreating outdoors. Each participating brand gave each of their Outdoor Retailer Summer Market attendees a badge and ensured that an equal number of children will have a park experience. For each $15 donation, outdoor companies and individuals gave a park experience to a young person. Funds will be donated to the Parks4Kids program, an initiative of the Outdoor Foundation and Outdoor Industry Association, which supports projects across the country that connect young people to parks. The Summer Market took place last week at the Salt Palace Convention Center.
REAL ESTATE
• MiMutual Mortgage, the national retail channel for Michigan Mutual Inc., has opened a branch in South Jordan and plans to soon open another office in Lehi.Spencer Stotthas been named Salt Lake City’s regional manager to oversee the area’s growth. He has more than a decade of mortgage industry experience as a licensed mortgage loan originator, specializing in FHA, VA, conventional and jumbo financing loans. Recently hiredJohn Stevens, vice president of business development for MiMutual Mortgage, will work closely with Stott to grow the company’s presence in and service to the Salt Lake City community. The South Jordan branch currently has 14 employees.
TRANSPORTATION
•England Logistics, Salt Lake City, has opened an office in Atlanta to accommodate the company’s growth in the region. The opening marks England Logistics’ fifth operational office in the United States.Scott Hammond, business development manager at England Logistics, will oversee daily operation of the Atlanta office. An employee of England Logistics since 2013, Hammond will be responsible for leading the growth and development of the new office.
CONSTRUCTION
•Big-D Constructionhas completed the first of 18 cabins atVictory Ranchin Kamas. The planned golfing and outdoor community will include two lodges, golf club, pools, golf course and private access to Provo River for fly fishing, mountain bike trails, upland bird hunting, and sporting clays. Cabin size will range from 2,200 square feet to 3,300 square feet. Victory Ranch plans to add additional cabins over the next few years.
CONTESTS
• TheUtah Venture Entrepreneur Forum(UVEF) is accepting applications until Aug. 19 for its“UVEF Top 25 Under 5” Awards. The awards honor the best emerging companies established by entrepreneurs in Utah. Winners will be selected by a panel of the UVEF board of directors. To qualify, companies must have registered with the state on or after Jan. 1, 2011. Nominations will be accepted from both revenue and pre-revenue companies. Twenty-five companies will be recognized in two categories: pre-revenue companies that have an outstanding business model that demonstrates scalability, and revenue companies that are leading in a combination of economic standards, including revenue and employee base. All submitted information will be kept confidential. Winners will be recognized at the UVEF award event in September. Details are at http://uvef.com/recognition/top-25-under-5/25-under-5-application/.
DIVIDENDS
• The board of directors ofHolly Energy Partners LPhas declared a cash distribution of 58.5 cents per unit for the 2016 second quarter. It will be paid Aug. 12 to unitholders of record Aug. 1. The distribution is a 7.3 percent increase from the 54.5 cents-per-unit distribution for the same quarter last year and represents the 47th consecutive quarterly distribution increase. The company, through its subsidiaries and joint ventures, owns and/or operates petroleum product and crude gathering pipelines, tankage and terminals in Utah and nine other states.
ECONOMIC INDICATORS
•Utahexports totaled about $870 million in May, according to a report from theWorld Trade Center Utah. That is down 17.81 percent from $1.06 billion reported in May 2015 and down from $1.24 billion in April of this year. Through May, 2016 had seen $5.07 billion in Utah exports, down 32.34 from the same period in 2015. About 28.5 percent of Utah exports in May were metals. The top five export destinations were Hong Kong, Canada, United Kingdom, Mexico and Taiwan.
GOVERNMENT
• TheUtah Division of Water Resources(DWRe) has hiredFaye Rutishauseras its new water conservation manager. Rutishauser will take over water conservation management responsibilities from water conservation and education manager Eric Klotz. Rutishauser has spent her more-than-10-year career working in water conservation. Rutishauser worked for the Utah Division of Water Resources before working for Red Butte Gardens, followed by starting her own nursery, New Horizons Nursery, in 2009.
• TheUtah Division of Consumer Protectionhas citedPerformax Gyms Inc., Clearfield, for closing its doors without notifying members, failing to offer refunds and continuing to charge bank and credit card accounts after the company’s Clearfield location was shuttered in late June — violations of the Health Spa Services Protection Act and the Utah Consumer Sales Practices Act, according to the division. About 1,700 Performax Gym contracts were affected. Former Performax members may be entitled to refunds for charges that occurred after the gym’s closure and prorated refunds of gym membership fees paid in advance, according to the division. Consumers owed money have been asked to file complaints with the division by Sept. 1 at www.consumerprotection.utah.gov. On the website, consumers can click on the “Performax Gyms Closure Complaints” link to file a complaint.
INVESTMENT
•Eastwind Networks, Salt Lake City, has announced it has secured a $5.5 million seed extension round led bySignal Peak Ventures, Salt Lake City.Cybersecurity Investments LLCalso participated in the round, bringing total seed funding for the company to $6.5 million. Eastwind provides a hybrid network breach detection system designed to meet the needs of government agencies and enterprise IT security systems. The funding will be used for product development and research and development, as well as expanding its sales and marketing departments to meet increased demand for its system.
•Kodiak Cakes, Park City, has received a minority investment fromSunrise Strategic Partners LLC, based in Boulder, Colorado. Specifics of the investment were not disclosed. Kodiak Cakes produces breakfast items, including pancake/waffle mixes, flapjack/muffin cups and syrups. Sunrise said its investment will enable Kodiak Cakes to accelerate growth by increasing distribution to new channels, supporting innovation and expanding the Kodiak Cakes team.
PHILANTHROPY
• More than 90 outdoor brands signed up to participate in the first-of-its-kind“Give Back Badge”program supporting the“Parks4Kids” Initiative.Outdoor Retailer, in partnership with theOutdoor Foundation, started the program in April in an effort to engage the industry in a collective effort to get more kids recreating outdoors. Each participating brand gave each of their Outdoor Retailer Summer Market attendees a badge and ensured that an equal number of children will have a park experience. For each $15 donation, outdoor companies and individuals gave a park experience to a young person. Funds will be donated to the Parks4Kids program, an initiative of the Outdoor Foundation and Outdoor Industry Association, which supports projects across the country that connect young people to parks. The Summer Market took place last week at the Salt Palace Convention Center.
REAL ESTATE
• MiMutual Mortgage, the national retail channel for Michigan Mutual Inc., has opened a branch in South Jordan and plans to soon open another office in Lehi.Spencer Stotthas been named Salt Lake City’s regional manager to oversee the area’s growth. He has more than a decade of mortgage industry experience as a licensed mortgage loan originator, specializing in FHA, VA, conventional and jumbo financing loans. Recently hiredJohn Stevens, vice president of business development for MiMutual Mortgage, will work closely with Stott to grow the company’s presence in and service to the Salt Lake City community. The South Jordan branch currently has 14 employees.
TRANSPORTATION
•England Logistics, Salt Lake City, has opened an office in Atlanta to accommodate the company’s growth in the region. The opening marks England Logistics’ fifth operational office in the United States.Scott Hammond, business development manager at England Logistics, will oversee daily operation of the Atlanta office. An employee of England Logistics since 2013, Hammond will be responsible for leading the growth and development of the new office.