This week on the Utah Business Report

This entry was posted on Friday, August 31st, 2012 at 3:51 pm and is filed under Chamber News, Utah Business Report. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

In case you missed one or more of the Salt Lake Chamber’s Utah Business Reports on KSL News Radio, here is a recap of what we talked about this week.

Good news this afternoon for Taylor Capital Group, LLC. They recently reported quarterly returns of 4.42 percent for the Mountain West Debt Fund, LP, as well as the fund’s expansion into California, Colorado and Nevada.

The Mountain West Debt Fund invests in private capital in short-term, real estate secured debt. During its first year, the fund has attracted established real estate developers with proven track records of performance.

Taylor Capital Group has also formed an advisory board for the Mountain West Debt Fund. Two advisors have been named: Michael Sansom of the Sussex Group and Harold Turley of Tetra. Both men bring a wealth of local and real estate industry expertise to their new roles.

As part of the Chamber’s 125th anniversary, we want to share the rich history of the members who have made the Chamber so successful.

Founded in 1968, Columbus Community Center supports the growth, development and independence of people with developmental and physical disabilities. Columbus has been successful for over four decades, due, in part, to its partnerships with local businesses.

When businesses partner with Columbus, they benefit from the experience and skills of a trained workforce while creating opportunities for individuals with disabilities to live and work in the community.

Columbus provides employment opportunities for individuals with disabilities who traditionally face a 65 percent unemployment rate. They are recognized for their contributions to helping individuals find meaningful work, and have been successful because so many local businesses want to support their mission.

For the third straight year, the prestigious Chambers USA Guide has ranked Ray Quinney & Nebeker’s Employment Section number one in the state, saying their labor and employment team is renowned for its depth and consequent ability to deliver results in the full range of employment matters. Chambers also said the group has superb capabilities in traditional labor work and issues stemming from the Employee Retirement Income Security Act.

Ray Quinney & Nebeker’s recent highlights include representing local and national clients in a series of employment disputes relating to discrimination and trade secret issues.

We’d like to join and congratulate Smith’s Food and Drug in celebrating the grocery giant’s 80th anniversary.

When six-year-old Dee Smith began sweeping floors at his father Lorenzo’s five-thousand square foot grocery store in Brigham City, Utah in 1932, he began his career in what he later called the “People Business” – grocery retailing.

In 80 years, Smith’s has grown into 125 Food and Drug centers, 6 multi-department Smith’s Marketplace stores and 75 fuel stations throughout the West.

Smith’s is a leader in providing a meaningful and enjoyable shopping experience by offering a rewards program, savings and variety to their customers. As an integral part of Utah’s business legacy, Smith’s is a strong family-oriented company and generous community supporter.

One new company planning to expand in Utah is coming with great promise. Xi3 is a cutting-edge computer hardware development and design corporation that plans to devote over $32 million in capital investment towards future expansion on the Wasatch Front in the next five years. The projections suggest 500 new jobs will be added to the company’s Utah workforce.

The Governor’s Office of Economic Development determined this has a five-year, post-performance incentive of more than $2 million in an Economic Development Tax Increment Financing refundable tax credit that builds on the State’s legacy of successfully targeting economic development in the I-T industry.

With this incentive, Xi3 expects to generate nearly $170 million in new state wages and over $98 million in new state revenue.

For the full reports from this week and weeks past, visit KSL Radio online. Remember to tune in between 12:30 and 1 p.m. to KSL News Radio every week day on 102.7 FM or 1160 AM. If your business is doing something great, let us know and we may just feature it on the Utah Business Report. 

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