100 jobs
$150 million capex
Project CJ Demo

Congratulations to Salt Lake City! CleanJoule, a full-performance sustainable aviation fuel company, announced plans to bring approximately 100 new technically-oriented jobs to Salt Lake City and invest $150 million in Utah over the next ten years.

“Salt Lake City is thrilled about the expansion of CleanJoule and the additional jobs they’ll bring to our residents. This homegrown success story is a perfect example of the magic that happens at the University of Utah Research Park, which then translates into sustainable manufacturing that’s good for the environment and the economy,” said Lorena Riffo Jenson, director of Salt Lake City’s Department of Economic Development. “When a company chooses to expand here, it reinforces that Salt Lake City is a place where businesses prosper. And when businesses prosper, our families, friends, and community thrive.”

EDCUtah supported the project by coordinating requests for information on behalf of the company and facilitating connections between CleanJoule and local brokers, including Newmark.

“CleanJoule’s transformative work in sustainable aviation fuels exemplifies the innovation and collaboration that thrive in Utah’s business-friendly environment,” said Scott Cuthbertson, president of EDCUtah. “By driving advancements in fuel efficiency and sustainability, CleanJoule is shaping the future of aviation and strengthening Utah’s position as a hub for cutting-edge aerospace solutions.”

CleanJoule is a full-performance sustainable aviation fuel (SAF) company that has developed a breakthrough pathway to produce superior and cost-effective SAF, driving the transformation towards a more sustainable aviation industry. CleanJoule’s manufacturing process delivers SAF with 10% higher energy density than typical Jet A/A-1 via a feedstock flexible biologic and chemical process. Backed by Indigo Partners, Cleanhill Partners, GenZero, Frontier Airlines, Wizz Airlines, and Volaris, CleanJoule is on a mission to eliminate the aerospace industry’s reliance on fossil fuels.

“Utah has an incredible talent pool and excellent leadership at the city and state levels. Utah’s business-friendly legislature has been instrumental in allowing us to attract outside capital and drive growth,” said Mukund Karanjikar, CEO and founder of CleanJoule. “We see immense potential in the Salt Lake City community and are excited to be part of an ecosystem that values forward-thinking approaches and cultivates an environment where businesses and individuals alike can thrive.”

Rex Buys, business development manager, led Project CJ Demo for EDCUtah. Jeff Rossi from Newmark, assisted the company in finding its location.

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EDCUtah Investors: If you were involved with this project and would like to have your organization mentioned, please email connect@edcutah.org and we’ll update this article.

For additional information or to schedule an interview, please contact us.

183 jobs
$39 million capex
Project Aegis

Hypercraft, a cutting-edge provider of electric powertrain systems, announced plans to bring approximately 183 new high-paying jobs and invest $39 million in Utah during the next seven years.

“We are very grateful for the support we have received from EDCUtah and the Governor’s Office of Economic Opportunity as we continue to grow and scale our business, technologies, and employee base here in Utah,” said Jake Hawksworth, CEO of Hypercraft.

EDCUtah assisted Hypercraft in navigating state incentive processes and in coordinating with communities across the Wasatch Front. EDCUtah will continue to help Hypercraft with incentives from other agencies and by connecting them with our network of private and public sector partners.

“We are thrilled to celebrate Hypercraft’s expansion in Utah,” said Scott Cuthbertson, president of the Economic Development Corporation of Utah (EDCUtah). “Its innovative advanced propulsion technology is revolutionizing the automotive industry and will be right at home in the Beehive state as a growing company creatively solving the challenges of our day.”

With the goal of making electric vehicle (EV) technology available to everyone, Hypercraft supplies complete, plug-and-play electric drive systems for everything from one-off creations to large-scale electric vehicle production. The company’s client base includes chassis fabricators, custom and restomod shops, manufacturers of automobiles, boats, off-road, powersports, and racing vehicles, fleets, small equipment, and anything in between. Hypercraft strives to give companies access to advanced propulsion technology and to help those companies scale their businesses quickly.

The Utah Governor’s Office of Economic Opportunity (GOEO) – an EDCUtah founding investor – assisted the project by approving Hypercraft for Economic Development Tax Increment Financing (EDTIF).

“Utah is driving innovation in the electric vehicle industry, shaping the future of sustainable, eco-friendly transportation,” said Ryan Starks, executive director of the Governor’s Office of Economic Opportunity. “Our commitment to advancing research and production ensures Utah is leading the charge in manufacturing technology and innovation. Companies like Hypercraft are driving this progress, serving as hubs for groundbreaking solutions that will power a more sustainable future.”

Jared Stewart, senior business development manager, led Project Aegis for EDCUtah.

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EDCUtah Investors: If you were involved with this project and would like to have your organization mentioned, please email connect@edcutah.org and we’ll update this article.

For additional information or to schedule an interview, please contact us.

Each month, EDCUtah’s Research Minute highlights interesting economic development data and timely research insights. This month, we explore the Archbridge Institute’s Social Mobility score and how Utah earned the no. 1 rank in the country.

Utah ranks first in the nation for social mobility in the 2023 Social Mobility in the 50 States report published by the Archbridge Institute. For residents, this translates to a better chance of moving up the social and economic ladder in Utah than in any other state. For businesses, this makes Utah an attractive location because it gives their workforce the best opportunity to live the American dream.

Social mobility has typically referred to the ability of individuals to surpass the earnings of their parents at the same age. In their research to create a social mobility index, the Archbridge Institute included not only this intergenerational income element, but also metrics that more broadly measure one’s ability to improve their life and well-being. Archbridge Institute applied four pillars to the index:

1. Entrepreneurship and Growth. To climb the income ladder, individuals need access to good jobs. Thus, entrepreneurship and growth have a clear relationship to improving well-being.

2. Institutions and Rule of Law. If opportunities to participate in a growing economy are restrictive or exclusionary, the benefits of growth will not be accessible to the broader population. Thus, institutions and policies also play an important role in social mobility.

3. Education and Skills Development. Investments in education and workforce training programs can also impact whether individuals can access quality jobs to improve their earning potential.

4. Social Capital. The impact of community and social relationships cannot be understated when it comes to quality of life, support networks, and professional advancement.

Archbridge Institute analyzed each pillar for all 50 states and ranked them by their scores. Utah ranked no. 1 for overall social mobility, no. 4 for Entrepreneurship and Growth, no. 5 in Education and Skills Development, no. 8 in Social Capital, and no. 17 for Institutions and Rule of Law.

Each of the four pillars contained additional subcategories of measurement. While the report does not give detailed descriptions of the specific data used to generate the rankings, they can still provide insights into general areas of strength and improvement. The subcategories where Utah showed its greatest strengths were:

• No. 2 in Business Dynamism, a subcategory of Entrepreneurship and Growth. Business Dynamism measures the entrepreneurial success and innovative nature of a state.

• No. 3 in Parent Engagement and Stability, a subcategory of Education and Skills Development. Parent Engagement and Stability includes how often parents read to their children, how frequently a family shares a meal, parental attendance at their children’s activities, and the share of single-family homes.

• No. 6 in Charity, a subcategory of Social Capital. Charity includes donations, volunteerism, the number of non-profit or religious organizations, and the laws that regulate charities. This category is a proxy for “a community’s willingness to help each other in times of need” and it contributes to social mobility by making social and economic improvement a community effort.

Utah’s lower rankings appeared in the following subcategories:

• No. 27 for Regulation, a subcategory of Entrepreneurship and Growth. Regulation here refers to the number of regulations for individuals and firms, minimum wage laws that might restrict higher employment, residential land-use regulations, and barriers to employment such as licenses required to take on a job.

• No. 27 for State Predatory Action, a subcategory of Institutions and Rule of Law. State Predatory Action refers to fines and fees collected by the state, public perception of corruption, and civil asset forfeiture – all of which can cause individuals to distrust their legal environment and dissuade them from pursuing quality of life improvements.

• No. 29 for Education Quality and Freedom, a subcategory of Education and Skills Development. Education Quality and Freedom measures the quality of K-12 schools and higher education institutions, while also assessing how easy it is for parents to choose which school their children will attend.

While there is room for improvement in Utah’s social mobility, it should be noted that even Utah’s lower rankings just barely fall in the bottom half of all 50 states. Utah is not far from sitting in the top half for all subcategories.

But how does the Archbridge Institute index compare to more traditional measures of social mobility? The index aligns closely with income mobility, poverty rates, and income inequality data for Utah. In a 2014 study, for example, Salt Lake City had the highest score for intergenerational mobility out of the 50 largest community zones in the country. Additionally, Utah has the nation’s second lowest poverty rate (9%) and the lowest level of income inequality as measured by the Gini Index. (Both of these Utah data comparisons use the U.S. Census Bureau’s 2023 American Community Survey 1-Year Estimates.)

Utah has proven to be a place where individuals can increase their income potential and also improve their overall standard of living and well-being. Utah is a place where people want to work, and where companies can have a meaningful impact on the lives of their employees and on the communities where they operate. Doing business in Utah not only makes financial and logistical sense for companies – it makes financial sense for employees, too.

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For additional information or to schedule an interview, please contact us.

The Economic Development Corporation of Utah (EDCUtah) is pleased to announce that Tom Morgan of Zions Bank will serve as the new chair of EDCUtah’s Board of Trustees. Morgan has served on the Board of Trustees since 2017, most recently as chairman of the finance committee and member of the executive committee. He succeeds Judd Cook, who served as board chair for EDCUtah’s 2023-2024 fiscal year.

“It has been humbling and such an honor to serve as chair of the EDCUtah Board of Trustees,” said Cook, vice president and general manager of Enbridge Gas Utah, Wyoming, and Idaho. “Some of the most innovative, thoughtful, and influential members of our community are a part of this wonderful organization, providing vision and a roadmap for economic stability and growth for future generations of Utahns. Over the last year, EDCUtah was able to create a lot of momentum, and I am excited to see Tom, as the incoming chair, continue to build upon that progress.”

Tom Morgan serves as director and executive vice president of retail, business banking, and omni-channel banking at Zions First National Bank. He has held several leadership roles over the course of 35 years working at Zions Bank. He studied business, banking, and finance at Fresno State University and The Pacific Coast Banking School, hosted at the University of Washington. As an active community leader, Morgan has served on the board of trustees of several large corporations, including Intermountain Healthcare, Select Health, and as the Chairman of the Utah State Charter School Board.

“The vision and resources EDCUtah brings to Utah’s economic prosperity have tremendous value,” said Morgan. “As EDCUtah enters this new and enhanced chapter of influence throughout the state, I’m looking forward to working closely with Scott Cuthbertson and his team of consummate professionals. I couldn’t be more thrilled for this opportunity.”

In addition, the EDCUtah board of trustees welcomes five new members: Jake Boyer of Boyer Company, Mayor Garth Green of Cedar City, Brad Holmes of the Larry H. Miller Company, Jeff Palmer of Layton Construction, and Deneiva Knight of Comcast Utah.

The following FY 2025 officer appointments were also approved by EDCUtah board members:

• Jason Hill of Rio Tinto as the Board’s private sector vice chair;
• Mayor Dirk Burton of West Jordan as the Board’s public sector vice chair;
• Dan Richards of Select Health as Board treasurer; and
• Judd Cook of Enbridge Gas as Board secretary.

Learn more about EDCUtah’s board.

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For additional information or to schedule an interview, please contact us.

The Economic Development Corporation of Utah (EDCUtah) has officially joined the Salt Lake Chamber organization. This announcement comes after a vote of the EDCUtah Board of Trustees on Oct. 8 to adopt new governing bylaws.

“This milestone is the result of a lot of hard work by EDCUtah staff and board leadership, and we are excited about the future,” said Scott Cuthbertson, president of EDCUtah. “We worked diligently over the last few months to create the governance structure to support EDCUtah’s combination with the Salt Lake Chamber. We’re thrilled with the advantages we’re already seeing and the opportunities ahead.”

In July, the boards of both EDCUtah and the Salt Lake Chamber agreed to move forward with a framework and process for the combination. The goal of the combination is to create a unified and powerful approach to statewide economic development that improves outcomes and increases Utah’s prosperity.

“This change isn’t just about better coordination,” says Derek Miller, president and CEO of the Salt Lake Chamber. “It will increase the effectiveness of both our organizations, especially in the areas of statewide economic development strategy, planning, and execution.”

For nearly 40 years, EDCUtah has operated as a private non-profit organization that supports businesses with the resources they need to relocate or expand their operations in Utah. Joining the “family of teams” at the Chamber offers EDCUtah an incredible opportunity to enhance its brand and mission while adding to and benefiting from the Chamber’s large statewide base of business and community leaders.

EDCUtah will maintain its name and brand, and EDCUtah and the Salt Lake Chamber will remain distinct organizations with defined missions, unique services, and separate financial accounts. EDCUtah remains Utah’s primary point of contact for site selectors and corporate decision-makers. We will continue to offer quality business expansion and relocation services, best-in-class economic research and data, and partnerships with public and private sector organizations across Utah.

EDCUtah’s Board will continue to operate as the organization’s governing body.

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For additional information or to schedule an interview, please contact us.

Manufacturing is a significant growth sector for the Utah economy thanks to companies like Central States Manufacturing. The company announced an expansion in Tooele City in June 2023, after working with EDCUtah and several Utah partners to evaluate locations for their next manufacturing facility.

An employee-owned business headquartered in Arkansas, Central States produces metal building components for residential, commercial, and agricultural projects. We caught up with CEO Jim Sliker to learn more about the company’s values and why it selected Utah and Tooele City for its expansion.‍

What prompted Central States’ expansion into Utah?

We’ve got big growth goals, and we’ve been blessed with results. When I stepped into this role, we had revenues of $265 million. This year, we’re going to close around $900 million in revenue. We doubled the number of our locations, and we’re expanding our reach regularly. We also reached a point in our business where we have enough sales west of the Rocky Mountains to support a western expansion.

We narrowed our western expansion down to three states, and we ultimately selected Utah for two reasons: Utah offers valuable logistics advantages, and we felt we could be successful hiring in Utah. In this day and age, the hardest thing about growing a company is securing and retaining talent. ‍

What’s your experience working with the EDCUtah, Tooele City, and others?

From the very beginning, we experienced successful and open dialogue with everyone from EDCUtah, Tooele City, and other parties. I’ve been able to talk about our needs, concerns, and constraints openly and honestly. All parties are interested in finding win-win solutions, and we continue to receive support as we establish operations.

Tim Ruger, our business unit president over the facility, and I put boots on the ground to get feel for the communities we were considering. I met with Tooele City Mayor Debbie Winn, her team, and other community partners. A local company was kind enough to show us their operations. I also participated in a local community service project.

I was super impressed with Tooele City Mayor Debbie Winn. She truly cares about her constituents, and she wants to improve their well-being. She is a partner with businesses, easy to work with, and very transparent.

Tooele fits our culture, and everybody I met had that “own it, can do, act in love” mindset. We thrive in small towns – and it’s also a growing area, so the number of potential candidates is there. After the visit, Tim and I looked at each other and said, “This feels like home.”  ‍

When do you anticipate the Tooele facility to be up and running?

This plant is our 12^th U.S. manufacturing facility, and it will be one of our largest at approximately 115,000 square feet. It will support our full product line for current large customers and new partners from the Rocky Mountains to the Pacific. Over the next five years, the company plans to invest over $25 million in the facility. It will have the capacity for three operational shifts, like most of our plants.

We named Jered Chandler the Tooele plant manager in September. Our current plan of record is to commission the site in May. In late March, we hope to do an open house, introduce ourselves to the community, do a big service project, and hold a recruiting fair. We might even do something fun like a community cookout.

We want to introduce ourselves and give people an understanding of who we are and what we’re about. We would then start hiring. Our commitment to Utah is to hire 150 jobs over the next five years. We’ll start out with a single shift of operation, but I’m excited to see that grow over five years, and I’m very optimistic about the plan we’ve got together. We’re happy to be part of the Utah family.

‍Tell us more about what it means to be employee-owned.

We’re a purpose-driven company. Our purpose is to provide well-being and financial freedom for employee owners and their families. We really live by it. It’s our true north. Part of this approach requires a meaningful compensation and benefits programs. It also takes training and development to help employees be all they can be and to find satisfaction in their jobs.

Employee ownership is our primary vehicle to financial freedom. We all have skin in the game and a stake in the outcome. Employees are an owner on day one of employment. At the end of every year, our share price is determined by a third-party, independent, unbiased trustee. Our employees get a contribution of stock, based on a percent of their earnings.

This keeps us focused on customer service. We operate in line with our values, and so that we can successfully grow the business and the share price—which accumulates wealth for all the employee owners.

Our values can be described in three simple phrases: Own It, Can Do, Act in Love.

We have a commitment to the customer, the company, and each other before self in that order. We’re trying to make raving fans out of our customers by being easy to work with, having a high degree of quality, and caring about our customer’s business as much as we care about our own.

We want to be reliable and do good work. We’re not perfect by any means. There are going to be constraints, there will be things that go wrong, and there will be things we don’t do well. We understand the need for change and we’re open to it. We take pride in what we do, and we try to understand root causes to get better.

We delegate the decision-making authority to the frontline employees who serve our customers. Our people can determine pricing, address issues, and approve reimbursements. We trust the owners to do a good job for customers.

When our customers visit our plants, the first thing they notice is that our people care about their work and the people around them. Our customers love their delivery drivers, they love their inside-sales people. That’s because we also strive to act in love. The word love for us is an everyday feeling. With every interpersonal interaction we have, either inside the company or externally, we get to choose how we act. We choose patience, kindness, and humility.

Those are our values, the foundational pillars of our culture—and that’s what makes us special.

How does being employee-owned impact the company’s goals and strategy?

Central States is the first company that I’ve worked for that’s employee owned. I’ve been here 11 years, but I don’t think my personal strategy has had to change. My philosophy and actions—transparency in the business, sharing all the scorecards, communicating financial results to all staff—already align with employee ownership. It’s my job to serve the people here.

The biggest difference is that when we set strategies, we evaluate whether it will help us provide well-being and financial freedom for employee owners and their families.

We have never had a layoff, nor would we ever, unless it was to truly protect the company from catastrophic conditions. We’re in the construction industry. It is very cyclical, and we go through ups and downs. But during COVID-19, for example, we never even talked about layoffs. That creates some challenges in the business in how we deal with business cycles.

The other big change for me is the passion. I love that people in this company speak freely. They challenge the business. They challenge me. That creates such a great dynamic inside the organization.

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“Building Together” highlights examples of the collective impact of your investment and EDCUtah’s work in communities across the state. 

For additional information or to schedule an interview, please contact us.

152 jobs
30,000 sq. ft.
Project Guard

Congratulations to the City of South Jordan! Today, Strider announced plans to expand in South Jordan, Utah, and bring 152 new, high-paying jobs to Utah over the next five years. Strider currently operates in Utah; Washington, D.C., London, U.K., and Tokyo, Japan.

“We are excited to see great corporate partners like Strider growing in the City of South Jordan,” said Brian Preece, City of South Jordan director of city commerce. “South Jordan is an exciting place to live and work, and we are pleased to be home to innovative companies like Strider.”

After meeting with Strider and learning more about their expansion needs, EDCUtah connected the company to the City of South Jordan for local community engagement and the Governor’s Office of Economic Opportunity (GOEO) for business incentives.

“Utah continues to strengthen its position as a leading business destination for cybersecurity and defense technology companies,” said Scott Cuthbertson, president of EDCUtah. “Utah’s skilled workforce and business-friendly environment are important factors in the success of innovative companies like Strider, and we’re pleased to see Strider’s growth in the City of South Jordan.”

Strider is a leading strategic intelligence company empowering organizations to secure and advance their technology and innovation. Strider transforms publicly available data into critical insights by leveraging cutting-edge AI technology alongside proprietary methodologies. Strider enables organizations to proactively address and respond to state-sponsored intellectual property theft risks, targeted talent acquisition, and supply chain vulnerabilities.

“We’re grateful for Utah’s efforts to enable Strider to attract even more of the best and brightest from the intelligence, technology, and business communities, and further establish the state as the center of gravity for innovation in national and global intelligence,” said Greg Levesque, CEO & Co-founder of Strider. “Governor Cox and the GOEO are taking important, decisive action to encourage innovation, entrepreneurship, and growth in the Beehive state. We applaud them for their efforts and look forward to continued partnership as we scale our operations in Utah.”

GOEO assisted the project by approving Strider for Economic Development Tax Increment Financing (EDTIF).

“Utah is expanding the software industry, empowering local businesses to scale efficiently, supporting entrepreneurship and economic opportunity for all,” said Ryan Starks, executive director of GOEO. “The state’s investment in IT infrastructure is paving the way for tech-driven cities, improving quality of life and promoting sustainable economic development. Strider’s investment in Utah advances this digital transformation across all industries, creating a foundation for economic growth and innovation.”

‍Spencer Layton, business development analyst, supported Project Guard for EDCUtah.

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EDCUtah Investors: If you were involved with this project and would like to have your organization mentioned, please email connect@edcutah.org and we’ll update this article.

For additional information or to schedule an interview, please contact us.

Join us in welcoming the newest members of EDCUtah’s team and congratulate Jaime Hernandez on stepping into a new role!

Jaime Hernandez Steps into New Investor Engagement Role

Jaime recently transitioned to a new role inside EDCUtah as a Community Insights Manager. This new role on the Investor Engagement team reflects EDCUtah’s commitment to providing Utah communities with data-driven insights and strategic support services. Previously, Jaime worked on EDCUtah’s Business Development team, where he focused on creating and strengthening synergies for collaboration between the Utah Inland Port Authority (UIPA) and EDCUtah. EDCUtah’s Business Development team will continue supporting the strong relationship with UIPA.

Bre Yamauchi Joins EDCUtah as Director of Operations

Bre is dedicated to driving operational excellence and fostering economic growth in Utah. She oversees day-to-day operations, optimizes internal processes, and leads strategic initiatives to enhance the organization’s impact. Prior to joining EDCUtah, Bre worked as a Fractional Operations Executive, advising clients across various industries within Utah. She currently serves on the Foundation Board at Utah State University and mentors students in the Huntsman Scholar Program at the Jon M. Huntsman School of Business. Outside the office, Bre enjoys sports, gardening, camping, and pursuing her passion for photography.

‍Joseph Wirthlin Joins EDCUtah as Research Analyst

As a research analyst, Joseph specializes in analyzing economic and business data to inform companies seeking to relocate or expand in Utah. Joseph also provides his analytical expertise to enhance in-house research reports and publications. He has a background in economics as well as language and area studies.  ‍

Learn more about our team and our work.

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For additional information or to schedule an interview, please contact us.