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Finance

Finance

Providing perspective and contextual insights on the monetary aspects of the Finance industry within the state of Utah, from Banking to FinTech and from venture capital to cryptocurrency.

Led by Utah Tech OG, Wes Swenson, Utah-based Novva Data Centers Will Spend $3.0 Billion to Build a 300MW Data Center in Arizona, its Sixth Since its July 2020 Launch

Led by Utah Tech OG, Wes Swenson, Utah-based Novva Data Centers Will Spend $3.0 Billion to Build a 300MW Data Center in Arizona, its Sixth Since its July 2020 Launch

In a project Novva expects will take 10 million hours to construct over a decade, the new environmentally friendly data center will include 1.3 million-square-feet of facilities located on 160 acres in Mesa, Arizona, and will use an "innovative water-free air-cooling system, which is projected to conserve up
David Politis
Utah-based Purple Innovation is Closing its Two Manufacturing Plants in Utah, Will Layoff Approximately 13% of its Staff, and Expects Restructuring Costs of $35 Million to $45 Million

Utah-based Purple Innovation is Closing its Two Manufacturing Plants in Utah, Will Layoff Approximately 13% of its Staff, and Expects Restructuring Costs of $35 Million to $45 Million

Purple will consolidate its manufacturing operations to its 520,000-square-foot facility in McDonough, Georgia facility (which it opened in 2020). With this restructuring, Purple has laid-off employees from its Lehi, Utah headquarters and expects to shutter its Grantsville, Utah and Salt Lake City plants sometime in Q1 2025, with ~220
David Politis