Podium growing in Utah County 04

Podium CEO and co-founder Eric Rea poses for a portrait Wednesday, July 12, 2017, at Podium's headquarters in Lehi. ISAAC HALE, Daily Herald

Small businesses give Utah an ‘A+’

Thumbtack announced the results from its 2018 Small Business Friendliness Survey, ranking all 50 states and 57 cities based on factors including licensing requirements, tax regulations, and labor and hiring regulations. Thumbtack’s study surveyed more than 7,500 small business owners for the ranking.

Small business owners gave Utah an A+ this year, ranking fifth in the survey of business friendliness in all 50 states. According to a press release, that is two spots better than last year, when it ranked seventh. Utah scored higher than Nevada, which received a C, and Idaho, which received an A-.

For more details about the report and the full set of results for Utah, please visit https://thumbtack.com/ut.

$1.8 million grant awarded to Provo

U.S. Secretary of Commerce Wilbur Ross announced that the department’s Economic Development Administration is awarding a $1.8 million grant to the Provo City Corp. of Provo for roadway and utility infrastructure needed to support business expansion and development. According to grantee estimates, the project is expected to create 450 jobs and spur $35 million in private investment.

“I am glad to see the Department of Commerce make this proactive investment in infrastructure development in Provo,” said Gov. Gary Herbert in a press release. “This project will make a real difference in one of the fastest growing counties in our state.”

This project will help Provo further develop an emerging tech and manufacturing campus inside the Mountain Vista Business Park.

Inc. 500 ranks UT companies high

A number of Silicon Slopes businesses made the Inc. 500 list of America’s fastest-growing companies. On the list, released Wednesday, a significant amount of those companies call Lehi their home.

Podium took the top Utah spot at No. 13 on the list. Funded Today out of South Ogden took the next highest Utah spot at No. 27. Taft, a consumer products and services company from Provo, came in at No. 56, with Lehi’s Boomsourcing ranked at No. 86.

“This ranking is a testament to the Podium team and what we as a company have been able to do in just four short years,” said Eric Rea, co-founder and CEO of Podium, in a press release.

The rest of the Inc. 500 Utah listings run like a Who’s Who of Silicon Slopes:

  • No. 141, iServe, Lehi.
  • No. 146, Slingshot, Orem.
  • No. 190, Blue Fire Leads, Provo.
  • No. 197, American Business Brokers, Salt Lake City.
  • No. 270, Beddy’s, West Jordan.
  • No. 321, Tranont, Lehi.
  • No. 359, SimpleNexus, Lehi.
  • No. 458, Signs.com, Salt Lake City.
  • No. 479, Nature’s Fusions Essential Oils, Provo.
  • No. 482, Cookie Cutters Haircuts for Kids, Holladay.

More than 100 other Utah companies joined these stand-outs on the Inc. 5000 List.

This was Funded Today’s first time on the Inc. 500 list. The company also was the top-ranking Utah company in the advertising and marketing category.

“We are so pleased to receive the honor of making the Inc. 500’s 2018 list of America’s fastest-growing, privately held companies. To think that we’ve raised over $200,000,000 and landed No. 27 on the Inc. 500 is extraordinary. It’s been a summer of milestones for us — and we’re only just getting started,” said Funded Today’s Thomas Alvord in an email.

The full Inc. 5000 list is found at https://inc.com/inc5000/list/2018.

Karissa Neely reports on Business and North County events, and can be reached at 801-344-2537 or kneely@heraldextra.com. Follow her on Twitter: @DHKarissaNeely

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