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FireEye, a threat protection company headquartered in California, is expanding into Utah. The company expects the expansion to bring about 250 new jobs to Salt Lake County.
FireEye has entered into an agreement with the state of Utah that is expected to bring more than $14 million in new state tax revenue and approximately $152 million in new state wages over the lifetime of the agreement. These wages are anticipated to be at least 125 percent of Salt Lake County’s average annual wage including benefits. FireEye expects to invest more than $2 million in a new facility. Currently the company has not finalized a specific location for that facility.
“We are very happy to be locating our Americas customer support group in Utah,” said Tony Kolish, FireEye senior vice president of customer services. “With a talented technical workforce and favorable business environment, Utah offers an excellent location for FireEye to put a technical customer support center.”
The Governor’s Office of Economic Development has approved a post-performance economic development tax increment financing refundable tax credit (EDTIF) of $3,603,155, or 25 percent of the new state revenue paid by the company over the 10 year life of the agreement.
FireEye works to prevent a new breed of cyber attacks, such as advanced malware, that easily bypass traditional signature-based defenses and compromise enterprise networks. FireEye supplements traditional and next-generation firewalls, IPS, anti-virus, and gateways.
The company recently raised $50 million in venture capital from such major financial firms as Sequoia Capital, Norwest Venture Partners, and Juniper Networks. FireEye CEO Dave DeWalt, formerly the CEO of McAfee, helped McAfee become a leader in its segment and sold the company to Intel for $7.6 billion.