2025 Economic Engines

CITY Provo FOUNDED 1955 EMPLOYEES 570 INDUSTRY Banking WEBSITE UCCU.com CEO Justin Olson THE COMPANY A Utah credit union for Utah communities.

1. August brought the ribbon cutting for UCCU Soccer Stadium. UCCU donated $28.5 million (the largest single donation in UVU history) toward the new facility’s $30 million price tag and is now the title sponsor for all of the university’s biggest sports venues. 

2. UCCU completed a major merger in June, bringing TransWest Credit Union beneath its umbrella. UCCU now has total assets exceeding $3.5 billion. 

3. This year UCCU created two volunteer Banking Innovation Advisory Boards comprised entirely of Gen Z-ers. 

4. A 23-year UCCU veteran, Justin Olson worked in finance, operations, lending, and as Chief Information Officer (CIO) before stepping up as CEO.  

5. Following his breakout rookie season with the Utah Jazz, Walker Kessler broke out in a different way, dipping a toe in the celebrity endorsement waters by taking his talents to UCCU. His frequent scene partner in UCCU ads is 5-foot, 2-inch actress Scout Smith.
Take Their Q “Community is central to our mission — to make sure that by strengthening the individuals we serve, we’re strengthening the communities we serve in the process.” – Justin Olson, CEO

City Lindon Founded 2017 Employees 350 Industry Food & beverage Website crumbl.com Leadership Jason McGowan, Sawyer Hemsley, Grace Chadwick The Company Dessert franchise with a mission to bring friends and family together over the best desserts in the world.

1. Earlier this year, Crumbl surpassed $1 billion in system-wide sales from more than 1,100 stores. The average store revenue hit $1.4 million.

2. The Crumbl Cares program supports schools and teachers through its “Teacher of the Year” awards in all 50 states, Puerto Rico and three Canadian provinces.

3. A huge social media player, Crumbl has 10.7 million followers on TikTok and 6.4 million on Instagram.

4. The rotating weekly menu — with its accompanying social media buzz — was a game-changer when it started in 2018. The innovation took Crumbl past the borders of Utah and made it a true national brand.

5. The development of training videos and apps on the internal messaging format has ensured the quality and consistency of the 1,100+ stores.

Take Their Q “When starting your business, use cold, hard feedback, even if it’s ugly. It’s better to find out early that something won’t fly than to have built 90 percent of it, then pivot or scrap.” – Jason McGowan, CEO & Co-founder

City Lindon Founded 1987 Employees 2,887 Industry Insurance Website trucordia.com Leadership Felix Morgan, Brandon Gray, Adam Reed The Company A top 20 U.S. insurance brokerage offering a range of commercial and personal insurance solutions.

1. This year, Trucordia secured a transformative $1.3 billion strategic investment from Carlyle. This funding strengthens the balance sheet, reduces leverage, streamlines governance and sets the stage for continued expansion.

2. Five strategic acquisitions in H1 2025 — including CADA Insurance and Huffman Insurance — strengthens their geographic and service footprint across key regional markets.

3. Trucordia executed a phased brand rollout under a new identity to unify culture and ensure seamless client experience.

4. Team members recently packed 125 bagged lunches for Salt Lake City nonprofit The Road Home.

5. Trucordia has 5,000 team members nationwide, with a substantial portion based in Utah, especially at the headquarters in Lindon.

Take Their Q “Focus relentlessly on building scalable, integrated operational systems early. These systems become crucial for preserving culture, efficiency, and quality as you scale.” – Felix Morgan, CEO

City Lindon Founded 2015 Employees 600 Industry Tech/Software Website awardco.com Leadership Steve Sonnenberg, Mike Sonnenberg, Tanner Runia The Company Employee rewards and recognition platform that builds culture, incentivizes performance and powers modern engagement strategies.

1. The company just finished a rebrand, new website and launch of Awardco 2.0.

2. Secured a $165 million Series B round of funding, enabling the company to continue to innovate while scaling its global infrastructure and offering new services and solutions to power employee engagement.

3. Serves over 6 million users across 163 countries, cementing the company as a global presence in the rewards and recognition space.

4. Awardco’s reward network includes over 300 million options for users to choose from.

5. A recognition program tailored to the healthcare industry has led to attrition risk going down by 20 percent, survey scores for feeling recognized has gone up, exceeding benchmarks by 11.4 percent.

Take Their Q “Prioritize people. What makes a successful business isn’t how many calls you can fit in a day or how late you stay on the computer — it’s all about creating a place where your people feel valued, supported, and empowered to do their best.” – Steve Sonnenberg, CEO

City Orem Founded 1941 Employees 6,071 Industry Higher Education Website uvu.edu Leadership Astrid S. Tuminez, F. Wayne Vaught, Kathren Brown The Company The state’s largest university educates more Utahns than any other higher-education institution.

1. Celebrated its largest graduating class in 2025, with 12,940 students earning 17,278 degrees and certificates.

2. Supplies an educated workforce to the state with nearly three out of four graduates working in Utah a decade after graduating.

3. The new Scott M. Smith Building will expand the school’s ability to educate engineers and computer scientists at a time when Utah faces a critical shortage.

4. The newly complete UCCU Soccer Stadium, home to UVU’s men’s and women’s soccer teams, enhances the experience for players and fans and strengthens the athletics profile regionally and nationally.

5. The school is expanding its Vineyard Campus through a partnership with the Huntsman Cancer Institute and the development of a Health and Wellness Village designed to serve both students and the broader community.

Take Their Q UVU has stepped into the national spotlight in applied artificial intelligence by launching its Applied Artificial Intelligence Institute, an Applied AI Apprenticeship Program and a Master of Applied Artificial Intelligence degree (which began in 2025).

City Lehi Founded 2018 Employees 6,500+ Industry Food + Beverage Website savoryfund.com Leadership Andrew K. Smith, Shauna Smith The Company An innovative private equity firm that invests in emerging restaurant brands to help them scale.

1. We’re proud of the acquisition of two new brands this year — Hawkers Asian Street Food and Bonrue Bakery — which brings the number of restaurants to 12 for Savory.

2. Savory has operations in 270+ restaurants across 23 states. In Utah alone, Andrew and Shauna Smith have opened more than 120 stores.

3. Savory holds a free restaurant conference every year, Restaurantology, which is attended by 550+ restaurant operators from around the country.

4. Savory works with founders of brands in unique partnerships that take a team approach to growth and success for the individual brands and the portfolio.

5. The company is growing to new markets, adding thousands of jobs and feeding millions of guests.

Take Their Q “The founders who get my attention galvanize their teams and punch through the same challenges crushing the rest of the industry. The best emerging brands are like speedboats — they can adapt and become something unique — while the legacy players are more like the Titanic, too big and slow to shift course in time.” 

– Andrew K. Smith, Managing Director & Co-founder

City Lehi Founded 2010 Employees 508 Industry Fintech Website MX.com Leadership Ryan Caldwell, Crystal Anderson, Jane Barratt The Company Enables financial institutions and fintechs to connect financial data, engage customers, analyze behavior and more through a secure and intelligent platform.

1. Founder Ryan Caldwell rejoined MX as CEO after stepping down in 2021 to focus on his daughter’s health. He’s back in with renewed optimism and focus — professionally and personally.

2. MX was named to CNBC’s “World’s Top Fintech Companies” list for a third consecutive year.

3. The company has processed over 170 billion transactions, averaging more than 150 million per day.

4. Its philanthropic arm — MX Gives — supports local charities across the state, including recently assembling 450 caregiver kits for Utah Foster Care.

5. Earlier this year, MX launched its Manage Money Dashboard product and has more than 124,000 monthly active users on the platform.

Take Their Q “Don’t treat values as an afterthought or a branding exercise. Define them early, live by them daily, and let them shape your world as a founder. If you build on that kind of foundation, your company will not only survive but create lasting impact for your employees, customers and community.”

City Provo Founded 2015 Employees 2,318 Industry Pest control technology Website aptivepestcontrol.com Leadership Vessie Pearson, Edmund Mackey, April Anslinger The Company The fifth largest pest control company in the nation, Aptive provides service in 36 states.

1. A 2024 partnership with Citation Capital allows for further growth and an expansion of the company’s business strategy.

2. Last year the company reached 2.4 million customer acquisitions from its 2,700+ sales representatives.

3. The Aptive Gives Back Foundation partners with Utah Foster Care, The Doctrina Foundation, the Loveland Living Planet Aquarium and Children of the Andes Humanitarian — all of which are based in Utah.

4. The company is celebrating its 10th anniversary this year. In 10 years, it has already become the fifth largest pest control company in the nation.

5. Aptive is a major supporter of local schools and teams, including the Utah Jazz and BYU Cougars.

Take Their Q “I spent a long time being absorbed with perfectionism, and while it can drive results, it can also distract you from what really matters. You can reach incredible places by allowing yourself the space to make mistakes and grow.” – Vess Pearson, CEO & Co-Founder

City Provo Founded 2013 Employees 289 Industry Entertainment Website angel.com Leadership Neal Harmon, Jordan Harmon, Jeffrey Harmon The Company A distribution studio behind crowd-funded shows like Dry Bar Comedy, “His Only Son” and “Sound of Freedom.”

1. Dry Bar Comedy has put Provo on the standup comedy map, bringing families together through laughter and featuring well-known names like Adam Carolla, Rob Schneider and Patrick Warburton.

2. The crowd-funding approach to productions gives each member of the “Angel Guild” the ability to help build the stories the studio will tell.

3. “Sound of Freedom” became a $250 million global phenomenon while the animated “The King of Kings” ($76.8 million) was a wildly successful faith-friendly feature.

4. Angel is now collaborating with Kevin James and the “SOLO MIO” team for its first romantic comedy, set to hit theaters February 2026.

5. Following its NYSE listing (ANGX), the company is now shooting for 5 million Guild members.

Take Their Q “Build a circle of champions. Internally, create a culture where every person thinks like a co-founder — they own outcomes, stay curious and learn fast. Externally, build a community that doesn’t just watch — they participate. Real growth happens when your team and community live your values.”

City Lehi Founded 2000 Employees 355 Industry Consumer products Website trovebrands.com Leadership Michael Sorensen, Kim Sorensen, Steve Sorensen The Company Privately held house of brands including BlenderBottle^®, Owala^®, Whiskware^® and EcoBrite^®, plus sister company Trove Nutrition and the Oath Nutrition^® brand.

1. Trove’s Oath Nutrition^® Clear Protein is the No. 1 clear protein brand at Target nationwide, year to date.

2. The team has nearly doubled in size in the last five years, while the company maintains a strong focus on culture, employee experience and internal promotion.

3. Owala^® became the No. 1 water bottle brand by market share just three years after its launch in 2020.

4. Trove Brands’ products are sold in over 100,000 retail locations in more than 100 countries.

5. With giving back as a core value, the team at Trove has partnered with local charities including Make-A-Wish Utah, Sleep in Heavenly Peace, the Utah Food Bank and others.

Take Their Q

“Product matters, but people matter more. The founders who win are the ones who delight customers and build extraordinary cultures. Do that early, and growth takes care of itself.” – Michael Sorensen, CEO