The Economic Development Corporation of Utah (EDCUtah) is pleased to close out the month with four new corporate expansion and relocation wins!

“Utah’s diverse and growing economy is strengthened by innovative companies across multiple sectors—from life sciences to clean technology and health and wellness,” said Ryan Starks, executive director of EDCUtah. “Companies like Microvascular Therapeutics, Reencle, Maxtec, and Richen Nutritionals not only bring innovation and global investment to our state, but also create high-quality jobs and foster sustainable economic growth. Supporting these projects allows us to build on Utah’s reputation as a hub for innovation, attract international partnerships, and enhance the prosperity and quality of life for communities throughout Utah.”

Here are the latest companies to choose Utah.

Microvascular Therapeutics Builds Momentum in Utah’s Life Sciences Industry 

Life sciences startup Microvascular Therapeutics (MVT) is collaborating with the University of Utah to advance a breakthrough device and procedure designed to stop brain tumors. Founder and CEO Evan Kimball, currently operating out of his home through Utah’s ALTA program, plans to grow operations into an incubator space at the University of Utah. Over time, MVT anticipates creating up to 50 high-quality jobs in business development, clinical operations, finance, and medical specialties—building on the founder’s proven track record of company growth. 

EDCUtah supported Project Kimble by hosting a site visit, conducting a market cost comparison through its research team, and outlining available state incentive programs. EDCUtah also facilitated an introduction to Kelvyn Cullimore of BioUtah. As MVT grows, the company plans to apply for Utah’s Economic Development Tax Increment Financing (EDTIF) program.

The company is gaining visibility and traction in the industry: MVT recently joined BioUtah and presented at the BIO International Convention in Boston.

MVT’s continued development reflects the strength of Utah’s life sciences sector and the value of collaboration among startups, research institutions, economic development partners, and social programs. 

Reencle Plants Roots in Utah  

Reencle, a Korea-based producer of sustainable composting technology, is expanding its operations to the United States with a new presence in Springville, Utah. The company is leasing a 6,000-square-foot facility, creating six new jobs and investing $2 million in capital expenditures. Reencle delivers innovative, clean tech solutions that align with the growing U.S. demand for circular economy practices and environmentally responsible waste management. The Springville location represents Reencle’s first operational footprint in North America.

EDCUtah supported Project Worm by providing customized market data and cost comparison analysis to guide the company's location strategy. EDCUtah also hosted Reencle’s North America General Manager and Korean CEO for a comprehensive “Why Utah” presentation. 

The company is also collaborating with Brigham Young University on ongoing research and a commercial pilot project that demonstrates its technology’s ability to convert food waste into valuable compost, reducing landfill dependence and promoting sustainable waste management.

Maxtec Chooses West Valley City

Maxtec – a healthcare technology company that produces respiratory and patient monitoring technologies – has reaffirmed its commitment to Utah by choosing to retain operations in West Valley City. Closely connected to its sister company Permapure in New Jersey, Maxtec evaluated several consolidation options and ultimately decided to maintain its 70-employee workforce in Utah. 

EDCUtah supported Project Maxwell by conducting a comprehensive market cost comparison between Utah, New Jersey, and other potential locations. The findings helped demonstrate Utah’s competitive advantages and contributed to the decision to keep Maxtec’s operations in West Valley City.

Richen Nutritionals Chooses Salt Lake City for U.S. Expansion

Richen Nutritionals, a leading nutraceutical company headquartered in China, is actively exploring expansion opportunities in the United States, with Utah emerging as a strong contender. As part of its U.S. market evaluation, the company visited Salt Lake City to assess the region’s potential as a strategic location for future operations.

The lead for Project Silk originated from Salt Lake City, which partnered with EDCUtah to coordinate a comprehensive site visit. During their time in Utah, Richen received a tailored “Why Utah” presentation highlighting the region’s strengths in workforce, infrastructure, and business climate. EDCUtah’s research team also provided detailed data on the local market, including insights into Utah’s thriving health and nutrition industry and the presence of similar companies already operating in the state. 

Richen’s interest in Utah reflects the state’s growing reputation as a destination for international investment and innovation in the nutraceutical and wellness sectors.‍

Rex Buys, business development manager, led Project Kimble, Project Worm, and Project Maxwell. Spencer Layton, business development analyst, led Project Silk for EDCUtah.  ‍

EDCUtah Investors: If you were involved with these projects and would like to have your organization mentioned, please email connect@edcutah.org and we’ll update this article.