Estimated read time: 5-6 minutes
Utah is listed as WalletHub's No. 1 state to start a business and there's no doubt that the economy is booming. But long before Silicon Slopes was a thing, several successful businesses got their start right here in the Beehive State. From copper mines to world-class construction companies and banking institutions, this short list includes five Utah companies that have or will soon hit major anniversary milestones.
Part of the reason these businesses have been around for so long is that they don't just focus on the bottom line. They work to uplift their employees, their consumers and the community at large. Here's a brief look at how they do it.
Rio Tinto Kennecott
The Rio Tinto Kennecott mine has been operating since 1903 and is one of the top-producing mines in the world today. Just as important, the company has actively been working to positively impact the surrounding community.
Their website states that Kennecott has "one of the lowest carbon footprints of any copper producer in the United States." The 2019 power plant closure and a shift to renewable energy sources have lowered the mine's annual carbon footprint by as much as 65%. The company's currently undergoing trials with underground battery electric vehicles that are said to improve employee health and safety while increasing productivity and reducing emissions further. This initiative, combined with a renewable diesel trial for trucks, is part of Rio Tinto's plan to go carbon neutral by 2050.
Rio Tinto Kennecott has also been working with the Natural History Museum of Utah for more than 40 years on award-winning science education programs and community enrichment initiatives.
Part of Rio Tinto's mission statement reads, "We respect others, build trusting relationships and consider the impact of our actions. We look for ways to contribute to a better future for our people, communities and the planet."
Zions Bank
Celebrating an impressive 150 years of business, Zions Bank is the definition of a Utah institution. With a network of 122 full-service financial centers in Utah, Idaho and Wyoming that offer a range of traditional and innovative banking services, it's not surprising that Zions Bank is a consistent market leader in U.S. Small Business Administration lending. But Zions has also established itself as a leader in charitable donations and service to the community. This mentality starts with CEO Scott Anderson and trickles all the way down to each employee.
"Zions Bank fully supports its employees to be active in the communities where they live and it's highly encouraged to give back any way we can," Renee Avram, a Zions Bank branch manager in Twin Falls, said in an article on the company's website. "I would have to honestly say, that it's a top priority to me, to work for a company that fully supports and invests in their employees and communities."
As a community-oriented business, Zions Bank allows employees to attend organization meetings held during work hours and even pays for membership fees in some cases.
Layton Construction
Founded in 1953, Layton Construction started in Utah and has now expanded into all 50 states. But no matter where they build, the company prides itself on constructing every project with integrity and building a stronger community.
According to a study from the National Center for Construction Education and Research, 25% of construction workers are older than 55. On top of that, 41% of the workforce is expected to retire by 2031. To address this pressing issue, Layton recently worked with other construction companies to host the first-ever Builders' Day at Salt Lake Community College. More than 50 local companies participated in the event and more than 500 high school students from across Utah participated.
The Builder's Day mission states: "Utah's leading builders have joined together to empower a generation to imagine what's possible for their careers. Through the transformative power of construction, we aim to create a world where young people can imagine and achieve new futures, and where the industry can thrive."
On top of working to replenish the labor workforce, Layton has been diversifying the field of construction. Zippia reports that 38.6% of the company is female and ethnic minorities make up 28.7%.
Jacobsen Construction
For 100 years, Jacobsen Construction has built up a reputation for being one of the most respected builders in the country. The company's dedication to "measure success in relationships, not just square feet" is evident in their community involvement. To celebrate their centennial year in 2022, Jacobsen participated in several charitable events. These included everything from donating 300 pounds of food to Ukrainian refugees to providing 100 Halloween costumes for elementary children.
"What we do matters," Gary Ellis, president and CEO of Jacobsen Construction says on the company's website. "As a Jacobsen employee, you are a part of meaningful work that impacts hundreds of thousands of people every day, and it's an impact that will be felt for years to come."
O.C. Tanner
Founded in 1927, Salt Lake-based O.C. Tanner may be best known for its world-class employee recognition software and solutions — but the company's focus on giving back is just as noteworthy. It's said that founder Obert C. Tanner would measure the company's success by asking his accountant, "What's our giveability this month?"
To this day, O.C. Tanner still donates time and 10% of the company's profits to philanthropic causes. Examples include the Tanner Lectures on Human Values, the Tanner Cares program, the Tanner Gift of Music and the Employee Donation Program in Canada.
For business owners who hope to enjoy the same longevity and success as the companies above, focusing on adding value to and building the community appears to be the secret.
