Six Utah cities are listed in WalletHub’s “Best & Worst Small Cities to Start a Business 2024” list, with Cedar City and St. George topping the list of best small cities at #1 and #2.
Gov. Spencer Cox and the Governor’s Office of Economic Opportunity announce the launch of the Startup State Initiative.
Guidehouse secures the Air Force ICBM Integration Support Contract 2.0, which has an 18-year performance period and a ceiling of $12B. Guidehouse will employ nearly 1,000 staff at Hill Air Force Base and the surrounding area in Ogden, Utah.
PACS Group Inc. closes its initial public offering, issuing 21,428,572 shares at $21 each for total gross proceeds of approximately $450M.
Nucor Corporation, through its subsidiary Metl-Span, opens a new $35M, 127,000-square-foot manufacturing facility in Brigham City, Utah. This facility produces insulated metal panels (IMPs) for applications such as warehousing and data centers and will create approximately 60 new jobs.
Onset Financial unveils its new 55,000 sq ft Red Rock Division in St. George, Utah. The campus offers lifestyle amenities like a basketball court, fitness center, yoga studio, pickleball court and a full-sized bistro.
Draper opens a new engineering and operations campus in Clearfield, Utah, to enhance service for aerospace clients and support Hill Air Force Base’s Nuclear Weapons Center.
French deeptech company Fairmat, which specializes in carbon fiber recycling and advanced recycled material manufacturing, chooses Utah for its first U.S. facility and office, bringing 25 new jobs to the state.
Lion Energy launches the POWERsave Cabinet and Container Series, offering businesses advanced energy management solutions and greater independence from grid disruptions.
Zions Bank CEO Scott Anderson retires.
Aqua-Yield partners with WestLink Ag Group to distribute its nanoparticle-based agricultural products through 42 retail locations, improving nationwide access to solutions that enhance crop protection, nutrient uptake and yield.
Co-Diagnostics, Inc. inaugurates its new manufacturing facility in South Salt Lake, enhancing its capacity to produce the Co-Dx Pro instrument and Co-Primers chemistry.
Kizik partners with Unify Brand Partnerships to expand its hands-free footwear into the U.K. market.
EdTech SaaS company Kuali Inc. is ranked in TIME Magazine’s World’s Top EdTech Companies of 2024 list.
BYU Law’s LawX Legal Design Lab introduces CourtServe — a platform that makes it easier for judges to assign community service — and Order Up — a divorce document automation platform.
TaxBit expands into Europe.
Medical Properties Trust Inc. sells a majority interest in five Utah hospitals, resulting in approximately $1.1B in cash proceeds.
Pickleball Kingdom expands into Utah.
FUNDING
| Recipient | Funding Amount | Led By |
|---|---|---|
| PCF Insurance | $400M, Incremental financing | Blue Owl |
| Torus | $67M | Origin Ventures |
Utah Office of Energy Development Solar For All Program | $62.45M | EPA |
| Nectar | $40M, Series B | PeakSpan Capital |
| Sheraton Park City | $33M | Driftwood Capital |
| 401GO | $12M, Series A | Next Frontier Capital |
| $9.3M, Seed | Springtide Ventures |
M&A ACTIVITY
Acquisitions by Utah companies
- Diversify Advisor Network acquires Key Advisors Wealth Management
- EQT X fund acquires Avetta
- Five Star Franchising acquires Card My Yard
- The Larry H. Miller Company acquires ATTYX
- PCF Insurance Services acquires MK Insurance Group Team
- PDQ acquires CODA Intelligence
- PV3 Investments acquires ENVE Composites
Acquisitions of Utah companies
- American Industrial Partners Capital Fund VIII, L.P. acquires Boart Longyear Group Ltd.
- Armstrong World Industries Inc. acquires 3form LLC
- C2C Metals Corp. acquires the Blue Jay Mine Project
- Core & Main Inc. acquires ACF West Inc.
- G&A Partners acquires Teamworks Group PEO
- Indo Count acquires U.S. premium national brand WAMSUTTA from Beyond Inc.
- Investors Capital Group acquires Desert Village Townhome
