2019 Economic Engines

CITY Pleasant Grove FOUNDED 1999 EMPLOYEES 260 in Utah  INDUSTRY Commercial Real Estate WEBSITE Colliers.com CHAIRMAN Brandon Fugal, 46  THE COMPANY A real estate services and investment company.

MANY HAPPY RETURNS 

1. Colliers International closed more than $3.1 billion in transactions over the past year in Utah. 

2. Colliers International has 14,000 professionals in more than 500 offices in 68 countries. Colliers is the fastest-growing publicly traded commercial real estate firm in the world.

3. The Utah operation of Colliers International boasts 260 full-time professionals in five offices, providing state-wide coverage.

4. Colliers International is the only full-service commercial real estate office in Utah County. 

5. In Utah County, Colliers controls 84.64 percent of the market share, making it the most dominant commercial real estate office in the country within a major metro area. 

CITY Provo FOUNDED 2002 EMPLOYEES 2,800 INDUSTRY Technology WEBSITE Qualtrics.com FOUNDER Ryan Smith, 41 THE COMPANY An enterprise platform that organizations use to collect, manage and act on experience data, also called X-data™.

MANY HAPPY RETURNS 

1. Remember that time Qualtrics sold to SAP in January 2019 for $8 billion, the largest private enterprise software acquisition of all time? Yup. We remember, too. 

2. Over 10,000 enterprises worldwide — including more than 75 percent of the Fortune 100 and 99 of the top 100 U.S. business schools — rely on Qualtrics. 

3. Notable clients include Coca-Cola, Target, Microsoft, NBC, JetBlue and Disney. 

4. Qualtrics started 5 for the Fight, a movement that invites everyone to give $5 to the fight against cancer. Smith’s dad, Scott Smith, came up with the idea for Qualtrics while battling cancer. Ryan Smith dropped out of school to support his dad through radiation and to help build the business.

5. Qualtrics’ X4 Summit has become rather legendary. Just take a gander at their keynotes from the last couple years: Lin Manuel Miranda, Barack Obama and America’s queen, Oprah. How do you top that lineup? You know we’ll be waiting to experience that data first-hand. 

CITY Provo FOUNDED 1999 EMPLOYEES 10,000  INDUSTRY Smart Home Products and Services WEBSITE Vivint.com FOUNDER Todd Pedersen, 50  THE COMPANY A leading smart home company.

MANY HAPPY RETURNS 

1. Vivint Smart Home is one of the leading smart home companies in the U.S. and is the largest tech employer headquartered in Utah. In 2019, Forbes named Vivint Smart Home to its “The Best Employers for Diversity” list.

2. Vivint Smart Home surpassed $1 billion in revenue in 2018 and serves more than 1.5 million customers.

3. Fast Company named Vivint Smart Home one of “The World’s 50 Most Innovative Companies” in 2017.

4. Vivint Gives Back. Constantly. Since establishing its charitable foundation in 2008, Vivint Smart Home has donated more than $18 million and 200,000 volunteer hours.

5. Vivint Smart Home has a close partnership with the Utah Jazz and its players, who play home games at the Vivint Smart Home Arena.

CITY Provo FOUNDED 1984 EMPLOYEES 1,600  INDUSTRY Beauty/Wellness/Direct Sales WEBSITE NuSkin.com CEO Ritch Wood, 53  THE COMPANY A developer of skin care and nutritional products primarily in the anti-aging market.

MANY HAPPY RETURNS 

1. Nu Skin is forever young and forever fierce — it did $2.68 billion in sales in 2018. 

2. Through its Nourish the Children Initiative, Nu Skin feeds more than 120,000 starving children every day. 

3. The company is publicly traded on the NYSE.

4. It has nearly one million active distributors and preferred customers, and it distributes more than 200 premium-quality anti-aging products in both the personal care and nutritional supplements categories. It employs more than 75 scientists.

5. Nu Skin has been on our UV50 list an amazing 10 times.  Its founder, Blake Roney, is being inducted into our UVBQ Hall of Fame this year. You can read more about Nu Skin and Roney’s legacy on page 54.

CITY American Fork FOUNDED 2008 EMPLOYEES 5,325 INDUSTRY Food and Beverage WEBSITE FourFoodsGroup.com  FOUNDERS Andrew K. Smith, 44; Shauna K. Smith, 41  THE COMPANY A restaurant investment, development and management company focused on emerging brands looking for hyper growth.

MANY HAPPY RETURNS 

1. Vivint Smart Home is one of the leading smart home companies in the U.S. and is the largest tech employer headquartered in Utah. In 2019, Forbes named Vivint Smart Home to its “The Best Employers for Diversity” list.

2. Vivint Smart Home surpassed $1 billion in revenue in 2018 and serves more than 1.5 million customers.

3. Fast Company named Vivint Smart Home one of “The World’s 50 Most Innovative Companies” in 2017.

4. Vivint Gives Back. Constantly. Since establishing its charitable foundation in 2008, Vivint Smart Home has donated more than $18 million and 200,000 volunteer hours.

5. Vivint Smart Home has a close partnership with the Utah Jazz and its players, who play home games at the Vivint Smart Home Arena.

CITY Pleasant Grove FOUNDED 2008 EMPLOYEES 2,000  INDUSTRY Health and Wellness/Direct Sales WEBSITE doTERRA.com  FOUNDER David Stirling, 56  THE COMPANY A producer and distributor of essential oils, including personal care products, nutritional supplements and healthy living products.

MANY HAPPY RETURNS 

1. doTERRA is an essential leader in essential oils and is a $1.5 billion company with products sold in 18 international markets (and counting).  

2. Its 383,000-square-foot global headquarters sits on 60 acres in Pleasant Grove and continues to expand on both sides of the freeway.

3. Through its Healing Hands Foundation, doTERRA partners with organizations in areas like micro-loan programs, anti-human trafficking and feminine hygiene. 

4. Its co-impact sourcing initiatives help communities in developing countries worldwide. In 2018, doTERRA supported 122,095 jobs and impacted 541,349 lives through global sourcing efforts.

5. In September, doTERRA hosted its largest annual convention at the Salt Palace Convention Center. It welcomed more than 30,000 wellness advocates and customers who generated a direct economic impact of nearly $28 million in the Utah community.

CITY Lehi FOUNDED 1982 EMPLOYEES 22,000  INDUSTRY Software WEBSITE Adobe.com THE COMPANY A provider of digital marketing and digital media solutions.

MANY HAPPY RETURNS 

1. It’s been 10 years since Adobe purchase Orem-based Omniture for $1.8 billion, ultimately leading the $8.725-billion global giant to set up shop in Utah Valley.

2. In 2012, it built a 280,000-square-foot campus in Lehi. It is currently building a $90-million facility that will be home to an additional 1,000 employees. The new building will also be the source of an estimated $2.3 billion in new wages and over $85 million in state corporate, payroll and sales taxes over the next 20 years. 

3. The company projects that the new positions will pay approximately 300 percent of the average Utah County wage.

4. Adobe literally paved the way to a Point of the Mountain renaissance for retail, business and specifically the tech sector.

5. The current campus houses a full gym, cafe, an NBA-sized basketball court and panoramic views of Utah Valley. About 50 percent of employees at the Lehi campus are engaged in corporate giving/charitable service projects, and Adobe regularly supports community initiatives that boost STEM learning and engagement in tech careers. 

CITY Lehi FOUNDED 1983 EMPLOYEES 1,600  INDUSTRY Technology/Family History WEBSITE Ancestry.com CEO Margaret Georgiadis  THE COMPANY The world’s largest online resource for family history and consumer genetics.

MANY HAPPY RETURNS 
1. Ancestry has good genes — and the records to prove it. It hosts the world’s largest online collection of family history records — 20 billion records, 80 countries of origin, 100 million family trees and 13 billion connections.

2. It is in more than 30 international markets and has more than 30 patents or patents pending. 

3. The company did more than $1 billion in revenue in 2017, has eight offices around the world and has been awarded as a Best Place to Work by a variety of publications.

4. The company has 3 million paying subscribers.

5. The company’s website handles more than 1 billion searches monthly and has had more than 17 million app downloads. Ancestry.com offers popular (and spittingly easy) DNA testing to consumers. (A record 15 million have been tested and counting.) The company has become the go-to source for genealogy-related TV shows and media interviews nationwide.

CITY Orem FOUNDED 1997 EMPLOYEES 3,100  INDUSTRY Construction WEBSITE ClydeInc.com FOUNDER Wilford Clyde, 65  THE COMPANY An administration agency that supports the needs of subsidiary organizations that span the construction, building materials and insurance agencies.

MANY HAPPY RETURNS

1. Since 1926, Clyde has been building Utah. Literally. Its subsidiaries are W.W. Clyde & Co., Sunroc Building Materials, Geneva Rock Products, Sunroc Corporation, Beehive Insurance and Clyde Properties.

2. It has built more state roadway miles than any other locally-owned contractor and collaborates on more than 500 projects annually. It has been part of building almost every collegiate stadium in Utah.

3. Clyde is numbered among the top 5 recyclers in the state — and has made a $30-million investment in clean air initiatives.

4. It donates money, time, equipment and materials to Building a Better Community. Notable donations: The Clyde Building, BYU; Maple Dell Scout Camp, Payson; Clyde Institute of Construction Management, UVU; and $2 million to Springville City to complete the new recreation center.

5. 90 years of a rock solid reputation.

CITY Lehi FOUNDED 1986 EMPLOYEES 550  INDUSTRY Technology WEBSITE Xactware.com PRESIDENT Mike Fulton, 58  THE COMPANY A provider of estimating software, building cost data and workflow management solutions to the property insurance, remodeling, real estate and property management industries.

MANY HAPPY RETURNS

1. Xactware is the No. 1 provider of property insurance estimating tools and data in North America with approximately 85 percent market share.

2. Xactware is a subsidiary of Verisk, a global data analytics organization that serves multiple markets, including insurance, energy and finance.

3. Each day, more than 14,000 property claims estimates are processed through Xactware’s network. 

4. Xactware operates in eight countries.

5. Today, 22 of the top 25 property insurance companies in the United States and 10 of the top 10 Canadian insurers use Xactware property insurance claims tools.