The Small Business Development Center has selected Diamond K Gypsum Company as a successful business to highlight for its sustained growth and success. Business owner Karen Palmer founded Diamond K in 1991 as an agricultural supply company. Taking advantage of natural resources plentiful in the area, the company has branched out to offer products for a wide range of industries.
Diamond K initially began as a sole proprietorship; the company has grown significantly since its founding because of hard work and innovative product development. From its inception, the company has utilized and benefitted from the principle of smart networking and resource cultivation. “I was taught at a young age to work hard and be persistent and never give up,” said Diamond K founder and owner Karen Palmer.
To capitalize on the businesses growth, Palmer enlisted the help of the Small Business Development Center (SBDC) at Snow College Richfield for loan packaging support. The SBDC worked with Palmer to secure debt funding and submit a variety of loan applications, which helped the business attain 2.3 million dollars to purchase new equipment and enhance operations.
“Palmer’s persistence and positive approach is quite apparent in their business today,” said SBDC advisor Keith Church. “After two decades in business, Diamond K has grown to be a stable provider of high-quality gypsum products, not only for the agricultural industry but also for food, pharmaceuticals, plastics and ornamental landscaping.”
The company has also introduced innovative products and processes to support customer growth. One of the new products it has developed is called the Aqua-Drive, which is designed to improve how treated irrigation water penetrates soil. Another innovation created by Diamond K is the DK Applicator, a patented applicator that blends water and Diamond K’s products into a solution that is distributed through an irrigation system.
While product quality and exceptional work ethic have made Diamond K the success it is today, Palmer acknowledges the importance of having a supportive business network. “The SBDC has helped me develop my business plan, provided needed research and aided me with my financial applications and projections,” Palmer said. “My advisors’ expertise helped guide the business in the right direction. I appreciate the SBDC’s moral support, and hope to continue the relationship.” In addition to ongoing business counseling, the SBDC introduced Palmer to the Custom Fit Training partnership, an initiative that is helping Palmer improve operational efficiency and employee skill development.
Diamond K’s sales are strong and continue to increase annually. The business is a significant employer for Sevier County; the company currently provides 23 full-time jobs to area residents.
The UT SBDC provides consulting, training and other resources to emerging and existing small business owners in partnership with the U.S. Small Business Administration (SBA), the Governor’s Office of Economic Development (GOED), the Lead UT SBDC Center at Salt Lake Community College, and other colleges and universities in the state. To learn more about the UT SBDC program, please visit www.utahsbdc.org. For more information on Diamond K Gypsum visit www.gypsum.com.
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