Mercury Wheels Speeds Ahead of Competition
After moving to Utah, bicycle company is able to expand internationally through STEP Grant and other WTC Utah resources.
In 2008, Mercury Wheels carved its own niche in the bicycle industry through customizable carbon wheels. After getting their start in Mississippi, Mercury Wheels decided to relocate to Utah in 2014. While relocating was difficult, the skilled labor force, state-level support of the outdoor industry and access to outdoor and manufacturing resources made Utah an ideal home.
“It wasn’t an easy decision for us but it has become one of the best decisions for our business,” said Chris Morgridge, CEO and founder of Mercury Wheels. “Utah has great potential, with industry booming and great manufacturing capabilities. We have been able to grow much easier here due to all the resources we have access to.”
Mercury Wheels designs and engineers its wheels in Utah. Although some parts are manufactured in Asia, all their assembly is done in Utah. Each wheel then goes through several quality assessments before getting shipped out to customers. With growing sales in markets such as Japan and Australia, Mercury Wheels is one of many outdoor companies that are rapidly expanding across the globe.
“Utah understands that it takes businesses of all sizes to build a strong growing industry,” said Morgridge. “Utah gives each business unique resources necessary to expand in their particular industry. Resources such as World Trade Center Utah, Governor’s Office of Economic Development, EDCUtah and U.S. Commercial Service have been invaluable to our success.”
As a Utah business, they have utilized funding resources by applying to the State Trade and Expansion Program (STEP) Grants to further fund their participation in international trade shows such as Eurobike and to exhibit with the State of Utah at the Taipei Cycle Show in March 2017. Mercury Wheels showcased their bicycle wheels and products to more than 40,000 show attendees and each event and generated key contacts for their targeted expansion markets.
The STEP Grant funding enabled Mercury Wheels to make key connections and foster relationships faster to help them see more growth and brand awareness.
“Going to Eurobike and gaining international recognition for our wheels has been key to establishing ourselves in the European outdoor industry,” said Morgridge about their experience” Cyclists from all over the world want our wheels because they are innovative and built with quality. Eurobike has been a big step in revitalizing our international strategy.”
Mercury Wheels is working with numerous contacts to expand further into European markets. The company has also been given numerous opportunities to sponsor cyclists, which has allowed expansion into different sales channels beyond market sales.
WTC Utah is accepting applications for the STEP Grant through October 31, for all international trade activities (including trade missions and trade shows) taking place between now and September 30, 2018. To learn more visit www.WTCUtah.com/step.