Intermark Steel Set to Expand Operations, Deliver Opportunity and Job Creation in Rural Utah – Business Wire

Investment in Intermark Steel Supports Sustainable Economic Growth in Rural Utah

Introduction

Intermark Steel, a steel fabrication company based in Price, Utah, has received a significant pro-growth investment from Advantage Capital, a leading impact investment firm focused on underserved areas. This investment, facilitated through the Utah Rural Jobs Act, aims to expand Intermark Steel’s operations and create 24 new high-quality jobs, thereby fostering economic opportunity in a rural region often overlooked by traditional capital markets.

Alignment with Sustainable Development Goals (SDGs)

• SDG 8: Decent Work and Economic Growth – The investment promotes sustained economic growth and productive employment by enabling job creation in a rural community.
• SDG 9: Industry, Innovation, and Infrastructure – Intermark Steel’s focus on advanced automation and precision engineering supports resilient infrastructure and innovation.
• SDG 10: Reduced Inequalities – Targeting underserved rural areas helps reduce economic disparities and promotes inclusive growth.

Company Growth and Project Portfolio

Matt Blaser, President and founder of Intermark Steel, highlighted the increasing demand for steel fabrication services and the critical role of this investment in scaling operations to meet client needs while generating employment in Price.

Intermark Steel’s portfolio includes notable projects such as:

1. Salt Lake City International Airport
2. Manti Sixth District Courthouse
3. Goldener Hirsch Luxury Hotel

The company is positioned to undertake larger and more technical contracts, including work for:

• Huntsman Mental Health Institute Translational Research Building
• Texas Instruments’ Lehi campus expansion
• TSMC’s third semiconductor fabrication plant in Phoenix, Arizona

Utah Rural Jobs Act and Economic Impact

The investment was made through the Utah Rural Jobs Act, a public-private initiative designed to close financing gaps for small businesses in rural and underserved communities. This program supports job creation where it is most needed, contributing to sustainable community development.

State Representative Christine Watkins emphasized the positive impact on the Price area, noting that the additional job opportunities represent a transformative change for local residents.

Technological Innovation and Sectoral Reach

Intermark Steel employs state-of-the-art automation technology to deliver precision-engineered steel solutions. The company serves diverse sectors including:

• Commercial real estate
• Healthcare
• Hospitality
• Infrastructure

Statements from Key Stakeholders

Arjun Mohan, Vice President at Advantage Capital, stated, “We are proud to support Intermark Steel—a company that exemplifies the entrepreneurial spirit and resilience of rural America. This investment will help unlock the company’s next chapter of growth.”

About Advantage Capital

Advantage Capital is an impact investment firm dedicated to directing capital to underserved communities. Since 1992, it has invested over $4.4 billion in more than 1,000 companies, supporting over 77,000 quality jobs. The firm also invests intentionally in affordable housing and renewable energy projects to foster sustainable economic and community development.

For more information, visit Advantagecap.com.

About Intermark Steel LLC

Intermark Steel specializes in the design, fabrication, and installation of custom steel stairways, railings, and structural components. Headquartered in Price, Utah, the company serves sectors such as airports, healthcare, hospitality, and commercial office buildings across the Mountain West and beyond. Known for precision engineering and advanced automation, Intermark Steel delivers high-quality products that support modern infrastructure projects.

Conclusion

This investment exemplifies a strategic partnership that advances multiple Sustainable Development Goals by fostering economic growth, innovation, and reduced inequalities in rural Utah. It underscores the importance of targeted capital deployment to empower growth-ready businesses and strengthen underserved communities.

1. Sustainable Development Goals (SDGs) Addressed or Connected to the Issues Highlighted in the Article

1. SDG 8: Decent Work and Economic Growth
   • The article discusses job creation, economic opportunity, and support for small businesses in rural and underserved areas.
   • Intermark Steel’s expansion and addition of 24 new, high-quality jobs directly relate to promoting sustained economic growth and productive employment.
2. SDG 9: Industry, Innovation, and Infrastructure
   • Intermark Steel’s work on infrastructure projects such as airports, healthcare facilities, and semiconductor plants aligns with building resilient infrastructure and fostering innovation.
   • The use of state-of-the-art automation technology highlights innovation in industry.
3. SDG 10: Reduced Inequalities
   • The investment targets rural and underserved communities, aiming to close financing gaps and reduce economic disparities.
4. SDG 11: Sustainable Cities and Communities
   • Projects such as the Salt Lake City International Airport and other infrastructure developments contribute to making cities and human settlements inclusive, safe, resilient, and sustainable.

2. Specific Targets Under Those SDGs Identified Based on the Article’s Content

1. SDG 8: Decent Work and Economic Growth
   • Target 8.3: Promote development-oriented policies that support productive activities, decent job creation, entrepreneurship, and innovation.
   • Target 8.5: Achieve full and productive employment and decent work for all, including young people and persons with disabilities.
   • Target 8.6: Reduce the proportion of youth not in employment, education, or training.
2. SDG 9: Industry, Innovation, and Infrastructure
   • Target 9.2: Promote inclusive and sustainable industrialization and, by 2030, significantly raise industry’s share of employment and gross domestic product.
   • Target 9.5: Enhance scientific research, upgrade technological capabilities of industrial sectors, including automation and innovation.
3. SDG 10: Reduced Inequalities
   • Target 10.2: Empower and promote the social, economic and political inclusion of all, irrespective of age, sex, disability, race, ethnicity, origin, or economic or other status.
4. SDG 11: Sustainable Cities and Communities
   • Target 11.3: Enhance inclusive and sustainable urbanization and capacity for participatory, integrated and sustainable human settlement planning and management.

3. Indicators Mentioned or Implied in the Article to Measure Progress Towards the Identified Targets

1. Number of New Jobs Created
   • The article specifies the creation of 24 new, high-quality jobs at Intermark Steel, which can be used as an indicator for Target 8.5 and 8.6.
2. Investment Amounts in Underserved Areas
   • The use of the Utah Rural Jobs Act and Advantage Capital’s investment in rural and underserved communities can be tracked as an indicator of progress towards Target 10.2 and 8.3.
3. Technological Advancement and Automation Adoption
   • The article mentions state-of-the-art automation technology used by Intermark Steel, which serves as an indicator for Target 9.5.
4. Number and Scale of Infrastructure Projects Supported
   • Projects such as the Salt Lake City International Airport and semiconductor plants indicate progress towards Target 9.2 and 11.3.
5. Access to Financing for Small Businesses
   • The closing of financing gaps for small businesses in rural areas through public-private initiatives like the Utah Rural Jobs Act can be an indicator for Target 8.3 and 10.2.

4. Table of SDGs, Targets, and Indicators

Source: businesswire.com