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COMMUNICATIONS
• Comcast has announced it has completed a $4 million expansion of its fiber-based network in Northern Utah. The expansion brings residential broadband speeds up to 1.2 gigabits per second (Gbps) and business speeds up to 100 Gbps to nearly 2,000 additional homes and businesses in Kaysville, South Ogden, Bountiful and Farmington. Since May 2019, the company has invested nearly $6 million in expanding its network to new areas in Northern Utah. With this project, and its recent expansion in Sandy, Park City and Ogden, Comcast now reaches nearly 3,500 additional Northern Utah homes and businesses. Comcast is also expanding its network in Salt Lake, Weber and Utah counties, which will make its network available to thousands more by 2023.
CONSTRUCTION
• Clyde Companies, an Orem-based provider of construction products and services, has hired Ally Isom as vice president and chief strategy and marketing Officer. In the newly created position, Isom will oversee all aspects of marketing and communications, government and public affairs, corporate travel, and community impact. Isom previously worked in various capacities for the state of Utah, including deputy director of the Department of Community and Culture; government relations director for the Department of Workforce Services; and deputy chief of staff, communications director and spokesperson for Gov. Gary R. Herbert. She then worked at the global headquarters of The Church of Jesus Christ of Latter-day Saints as director of family and community relations, then director of church identity and messaging, before moving to the private sector as chief strategy and marketing officer and acting executive at EVŌQ Nano. Most recently, she competed as a Republican candidate for the U.S. Senate. Isom earned a Bachelor of Arts degree in political science and communications from Brigham Young University.
DIVIDENDS
• The board of directors of LifeVantage Corp., a Salt Lake City-based company focused on nutrigenomics, has approved a quarterly cash dividend of 3 cents per share of common stock. The dividend will be paid Sept. 15 to stockholders of record Sept. 2.
ECONOMIC INDICATORS
• Salt Lake City is ranked No. 7 on a list of “best cities to boost your credit card score,” compiled by Upgraded Points. It analyzed 60 of the largest cities in the U.S. and collected data on eight factors. The top-ranked city is Boston. The bottom-ranked city is Houston. Details are at https://upgradedpoints.com/finance/best-cities-to-boost-credit-score/.
• Salt Lake City is ranked No. 25 on a list of “2022’s Best Cities for Self-Sustaining Homes,” compiled by Lawn Love. It considered 17 factors, such as solar potential and generation and friendliness to off-grid and sustainable lifestyles. It also considered the number of existing green and LEED-certified homes, as well as laws and limitations related to composting and water use. The top-ranked city is Los Angeles. The No. 200 city is Anchorage. Details are at https://lawnlove.com/blog/best-cities-self-sustaining-homes/.
• A total of 162,484 Utahns say “car flipping” is something they plan on getting into, if they haven’t already, according to a survey by GuntherKia.com. Car flipping involves an investor purchasing a vehicle with the sole intention of reselling it for a profit. Texas had the most, at nearly 2.8 million. North Dakota had the least, at 69,827. The highest percentages were in Wyoming and Vermont, at 33 percent. The lowest was in Massachusetts, at 3 percent. Details are at https://www.guntherkia.com/car-flipping-survey.html.
EXPANSIONS
• Ancestry, a Lehi-based company focused on family history and consumer genomics, has expanded AncestryDNA to 54 new markets across North America, South America, Europe, Asia and Africa. It now is available in 89 countries and territories and the expansion more than doubles the number of markets where people can access AncestryDNA. The DNA test reveals an individual’s unique ethnic background and helps match them to new relatives. Its global network includes more than 22 million people.
• Sky Zone, offering indoor trampoline parks and indoor active entertainment, has announced that multi-unit owner Josh Rathweg will open three additional Sky Zone parks in the third quarter of this year. They will be the first Sky Zone parks in New Mexico and West Texas, and will be based in Las Cruces, New Mexico; and East El Paso and West El Paso, Texas. Sky Zone was founded in 2004.
FITNESS
• IFit, a Logan-based company offering fitness hardware, software and subscription content, has hired Andy Donkin as chief customer officer. He oversee the company’s marketing, creative, content and ecommerce functions. Donkin has about 20 years of marketing, e-commerce, sports marketing and digital subscription experience. He spent over nine years at Amazon as Alexa Auto’s chief marketing officer, head of global marketing of Prime Video, and head of global brand and mass marketing.
GOVERNMENT
• The U.S. Department of Commerce’s Economic Development Administration has awarded a $625,500 grant to Utah State University in Logan to grow the transportation and logistics sectors by supporting workforce development efforts. The project will support training and certification in heavy equipment operation and truck driving at Utah State University Blanding. This grant will be matched with $190,944 in local funds and is expected to create 60 jobs, according to grantee estimates. This project was made possible by the regional planning efforts led by the Southeastern Utah Economic Development District. EDA funds SEUEDD to bring together the public and private sectors to create an economic development roadmap to strengthen the regional economy, support private capital investment and create jobs.
HEALTHCARE
• Back at Work Physical Therapy has opened an outpatient clinic at 1738 W. 2700 N., Suite 102, Pleasant View. The Ogden North Clinic is the company’s sixth location in Utah. It offers outpatient and telehealth orthopedic physical therapy, including pre- and post-operative rehabilitation, manual therapy, sports rehabilitation and injury prevention. Clinic director Kendall Humphrey earned a bachelor’s degree in kinesiology from the University of Utah and a doctor of physical therapy degree from South College in Knoxville, Tennessee.
• Elevar Therapeutics Inc., a Salt Lake City-based biopharmaceutical company, has appointed Wade Smith as chief financial officer. Smith previously served as Elevar’s vice president of finance since January. He has more than 20 years’ experience as a financial executive, joining Elevar after spending the previous decade at Viatris (formerly Mylan Pharmaceuticals). He was Viatris’s head of U.S. institutional commercial/finance from 2017-2022, functioning as the chief operating officer and chief financial officer for the division. He also was director of global accounting and financial reporting for Taggart Global USA LLC.
INSURANCE
• PCF Insurance, a Lehi-based insurance brokerage firm, has appointed Kenton Walker as vice president of legal. He will partner cross-functionally across the business to mitigate legal risk, scale best practices, and build a culture of legal compliance. He is also responsible for all legal processes as it relates to merger and acquisition (M&A) transactions. Walker has 15 years of experience in corporate legal counsel, risk management, business transformation, and M&A transaction oversight, most recently spending nine years at Adobe Inc. serving as director and associate general counsel. Walker also practiced at Kirkland & Ellis LLP in Chicago and Givens Purlsey LLP in Boise, Idaho. He earned Juris Doctor, Master of Accountancy, and bachelor’s in accounting from Brigham Young University.
INVESTMENTS
• Upkid, an Eagle Mountain-based on-demand marketplace for childcare centers and teachers, has announced a $1.7 million pre-seed investment from Newfund Capital, Corazon Capital and Beehive Venture Partners. Upkid will use the capital to hire staff and expand into new markets. Formed in 2021, Upkid allows child care providers to operate more efficiently and flexibly by hiring from a network of state-certified teachers on-demand. It plans to expand to multiple states following its pre-seed funding round.
• Fervo Energy, a California-based geothermal power company, has raised $138 million in new funding to help it complete power plants in Utah and Nevada and evaluate new projects in California, Idaho, Oregon, Colorado, New Mexico and internationally. The funding was led by DCVC. Other new investors included Canada Pension Plan Investment Board, Liberty Energy, Macquarie, Grantham Foundation for the Protection of the Environment, Impact Science Ventures and Prelude Ventures. The round also saw participation from existing investors, including Capricorn’s Technology Impact Fund, Breakthrough Energy Ventures, Congruent Ventures, 3X5 Partners, Helmerich & Payne and Elemental Excelerator.
LAW
• Holland & Hart has expanded its private client and tax groups in Salt Lake City with the hirings of partners Brent Andrewsen and Thomas Mecham; of counsel Brad Lowe; and associates D. Jeffrey Christensen, Adrienne Jack and John Nash. They will join the firm’s private client, tax and benefits practices. Andrewsen advises clients, both individuals and organizations, in all aspects of charitable planning, wealth management and business planning. Mecham customizes estate planning strategies for clients with a high net worth, focusing on the planning process and ultimate durability of an estate plan. Lowe counsels private and public companies on optimizing their employee benefits and executive compensation arrangements. Christensen counsels high-net-worth clients on tax and estate planning matters, helping them customize effective solutions to manage wealth. Jack assists high-net-worth individuals and families navigate complex tax and estate planning matters. A former IRS attorney, Nash provides clients with solutions involving tax-exempt organization, formation and operation.
• Verdict Resources Inc., a provider of investigations and forensic services for attorneys, has launched a new division in Utah with Aaron “AJ” Burns as a forensic analyst for its the office, providing information for lawyers throughout Utah. VRI Computer Forensics, a division of Verdict Resources Inc., will be solely focused on providing computer forensics services to Utah attorneys. Burns was recently honorably discharged as a technical sergeant in the United States Air Force. He was selected to be a cyber defense intelligence specialist for a Lockheed Martin F-35 Lightning II.
PARTNERSHIPS
• Built Brands LLC, American Fork, is continuing its partnership with Brigham Young University athletics. The NIL (name, image and likeness) partnership includes a pledge of 15 percent of its sales to Cougar football players. Proceeds from the new CougarTail Bars will be in addition to the commitment Built made to athletes last year that included Built being able to employ all BYU players, which included providing an amount equal to full tuition for walk-ons, or athletes who play without a scholarship.
• American Battery Factory Inc., an American Fork-based lithium iron phosphate battery manufacturer, has signed a strategic alliance agreement with Celgard LLC to provide Celgard battery separators that will be integrated into its U.S.-manufactured lithium iron phosphate battery cells. ABF and Celgard also will share resources to develop new technologies and improve precursor materials. Celbard is a dry-process battery separator manufacturer that is a wholly owned subsidiary of Polypore International LP, an Asahi Kasei company.
PETS
• Badlands Ranch near Park City has launched a premium dog nutrition brand founded by actress, animal advocate and philanthropist Katherine Heigl. The brand offers pet food, treats and supplements and is named after her family ranch in Utah, where offers medical care, obedience training, and assistance in the placement of dogs to homes across the U.S. in partnership with the Jason Debus Heigl Foundation, a nonprofit corporation that rescued over 8,000 dogs from shelters and funded 25,000 spay/neuter surgeries.
PHILANTHROPY
• Pyvott, an Orem -based social media platform, will donate $1 for every free download of its app until Sept. 11 to Salt Lake City-based nonprofit charity Good Deed Revolution to support its livestream suicide prevention event titled LiveLIVE.
• USANA Health Sciences Inc., Salt Lake City, has reached its goal of funding 30,000 Garden Towers, a low-cost, self-sustaining method for planting multiple food crops in a single source, for people in need. Garden Towers have been deployed in Utah and nine countries.
REAL ESTATE
• The Ivy at Draper, a 277-unt, 55-plus active senior housing development, has been sold. The sale was announced by Institutional Property Advisors, a division of Marcus & Millichap, but the company did not identify the seller or buyer. Financial terms also were not disclosed. Danny Shin, IPA senior managing director investments, and Brock Zylstra, IPA senior vice president investments, represented the seller and procured the buyer.
• North Union, a new 223-unit multifamily property in Midvale, has been sold by Rockworth Cos. to Keller Investments for an undisclosed amount. The sale was announced by Institutional Property Advisors, a division of Marcus & Millichap. Danny Shin, IPA senior managing director, and Brock Zylstra, senior vice president of investments, represented Rockworth and procured Keller. Anita Paryani-Rice of IPA Capital Markets arranged the financing.
• The Lawson team in Park City is moving from Engel & Völkers to eXp Realty, an all-virtual real estate brokerage firm. The team includes 15 agents and five staff members. EXp has about 84,000 agents in 21 countries.
• The two-building 5600/Logistics campus at 1464 and 1568 S. 5600 W., Salt Lake City, has been sold. The Class A buildings total 505,692 square feet. Building A sits on 14.97 acres and Building B is on 13.26 acres. CBRE/National Partners negotiated the shell forward deal on behalf of Go Industrial in partnership with a real estate fund advised by Crow Holdings Capital. Layton Construction’s National Building Group recently completed the project, which was designed by AE Urbia. The leasing brokers are the CBRE team of Chris Liddell, Tom Dishman and Matt McAfee.
RETAIL
• Sportsman’s Warehouse Holdings Inc., a West Jordan-based outdoor specialty retailer, has appointed Nancy A. Walsh to its board of directors. She succeeds Christopher Eastland, who resigned from the board after 13 years. Walsh will serve as an independent Class III director and will serve as a member of the board’s Audit Committee and Compensation Committee. Walsh has served as the executive vice president and chief financial officer of LL Flooring Holdings Inc. since September 2019. Prior to that, she served as executive vice president and chief financial officer of Pier 1 Imports Inc. and EVP and CFO of The Bon-Ton Stores Inc. She served in various financial positions, including as senior vice president of finance, with Tapestry Inc. (formerly Coach Inc.) and in financial roles with Timberland Inc.
TECHNOLOGY
• MX, a Lehi-based company focused on open finance, has named Wes Hummel as chief technology officer. He will oversee the company’s engineering and information security teams. Hummel has more than 25 years of experience leading global engineering and technology teams at PayPal and Motorola, most recently serving as PayPal’s vice president of site reliability and cloud engineering. He spent more than 14 years at PayPal in a variety of roles. Prior to joining PayPal, Hummel spent eight years as a software engineer at Clarity Communications Systems and five years at Motorola focused on creating internal tools to increase software reliability and availability.
• Domo, an American Fork-based company focused on business intelligence and analytics, has hired Wendy Steinle as chief marketing officer. Steinle spent more than six years at Adobe, where she led new cross-functional go-to-market strategy and enablement initiatives. She also led joint marketing efforts in the Adobe and Microsoft partnership, and led the company’s customer success and engagement platform, Experience League. Most recently, she served as CMO for Degreed and also served as vice president and group strategy director for MRM.
• Beans.ai, a geospatial data creation company, has hired Nick Miller as chief revenue officer and Jack Yu as chief technology officer. In addition to his role as CRO, Miller has opened a Utah office for the company. Miller previously was vice president of sales at Podium. He also worked at Qualtrics before joining Podium, where he spent six years. Yu, who joined Beans.ai as one of the first employees in 2019, came from Uber as a staff engineer, and spent 10 years at Oracle prior to that.