Salt Lake City—Like many a commercial for internet service boasts, there’s fast, and then there’s fast.
On Tuesday, Utah Business recognized companies whose growth leaves the rest in the dust.
“In a state that is growing faster than any other, the companies in this room are the fastest of them all,” said Donnie Welch, publisher of Utah Business magazine. “Each of you are expanding and contributing to the vibrancy of our economy.”
Honorees for the 10th-annual awards program were selected and ranked based on financial data submitted to a third-party accounting firm, and are objectively judged on total earnings and growth relative over the past five years. Companies who had not yet been in business for five years were ranked based on their total growth since their inception and the highest were honored as the Emerging Eight.
A combination of careful planning and taking calculated risks is likely a part of the honorees’ success, said Cameron Hancock, vice president and shareholder at Kirton & McConkie, presenting sponsor at the event.
“Some people revel in taking risks, and some go through life taking no risks at all. My guess is all of you have succeeded because you have taken risks, prepared for the risks, and turned any question marks into exclamation points,” Hancock said.
Matthew Day, CEO of Peterson Partners, also a presenting sponsor of the event, said the state’s incredible economy, rivaled only by its scenery, was a perfect breeding ground for business, as well as a strong draw from outside talent. And he should know, he said—Day, an Australian native, came for the proximity to skiing, but has stayed for the culture and business climate.
“We believe that investing in Utah has worked well for us—not just because Utah is a business-friendly environment in general, but also because this place lends itself so well to our mission of working with outstanding people. Everyone in this room is a testament to that—here in Utah, we have educated, driven and inspired entrepreneurs who are exactly the kinds of outstanding individuals we seek to team up with—and winning when you are on a great team makes any success so much sweeter,” he said.
Despite the recognition of success, Tyler Ploeger, an audit partner with presenting sponsor Tanner LLC, said finding joy and invigoration in the journey is even more important than reaching the finish line.
“[Being] part of Utah’s Fast 50 takes guts and grit; it takes humility and compassion. You have honed your teams to find the success you’re being celebrated for today. All too often we celebrate the result,” Ploeger said. “I believe that enjoying those simple things that get us to the result is so important—celebrating the process more than the result.”
While the Emerging Eight were honored without hierarchy, the order of the Fast 50 was kept under wraps until the event, when they were revealed one by one. In the coveted number-one spot—the fastest-growing company in the state—was Zurixx, LLC. Andrew Way, COO of Zurixx, said the company’s growth has been a wild ride, but he hopes a sustainable one.
“Last year, we walked across this stage as part of the Emerging Eight, so it’s been quite a journey for us,” said Way, noting one of the qualities the company prizes most is its “relentless focus” on quality. “We’re excited for the future. We’re excited to see where this relentless focus takes us.”
In reverse order, the 2017 Fast 50 are:
- Midwest D-Vision Solutions
- USANA Health Sciences
- Genysis Brand Solutions
- Vivint Smart Home
- SaltStack
- Red Sky Solutions
- ServerPlus
- Millburn and Company
- Christopherson Business Travel
- Overstock.com
- Lendio
- DFPG Investments, Inc.
- Signs.com, Inc.
- Citywide Home Loans
- Western Peaks Logistics
- Complete Merchant Solutions
- Creminelli Fine Meats, LLC
- Mac Warehouse LLC
- Restore Utah, LLC
- Kore Refrigeration
- Onset Financial, Inc.
- Traeger Pellet Grills
- Travel Pass Group
- Workfront
- Layton Construction
- Solutionreach, Inc.
- Packsize International
- Lucid Software
- Malouf
- Extra Space Storage
- Progrexion
- Kodiak Cakes
- Young Automotive Group
- Coldwell Banker Commercial Advisors
- iDrive Logistics
- HealthEquity
- Legend Solar
- Four Foods Group
- Purple Innovation, LLC
- Alpha Warranty Services, Inc.
- Auric Solar
- Ariix
- Health Catalyst
- Peak Capital Partners
- BioFire Diagnostics, LLC
- Instructure
- Jane.com
- Pluralsight
- Visible Supply Chain Management
- Zurixx, LLC
The 2017 Emerging Eight are:
- Acima Credit
- Blue Raven Solar
- Chatbooks, Inc.
- CircusTrix
- Intermountain Nutrition
- Ion Solar LLC
- LGCY Power
- Podium