FireEye a leader in advanced threat protection headquartered in California, is expanding into Utah. Today, along with the Governor’s Office of Economic Development (GOED) and Economic Development Corporation of Utah (EDCUtah), the company announced an expansion that is expected to bring approximately 250 new jobs to Salt Lake County.
FireEye is the leader in stopping a new breed of cyber attacks, such as advanced malware, that easily bypass traditional signature-based defenses and compromise enterprise networks. The FireEye solutions supplement traditional and next-generation firewalls, IPS, anti-virus, and gateways, which cannot stop advanced threats, leaving security holes in networks. FireEye offers the industry's only solution that detects and blocks attacks across both Web and email threat vectors as well as latent malware resident on file shares.
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.
FireEye has entered into an agreement with the state 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, 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.”
“Utah’s economy and its IT and Software industry is continually being recognized internationally as one of the most vibrant business communities in the US. FireEye will now be a part of Utah’s dynamic growth which has seen such companies as Adobe, eBay, IM Flash, and most recently Vivint in the headlines reporting their spectacular growth in Utah,” GOED executive director Spencer Eccles said.
“FireEye’s decision to expand in the State is another example of Utah’s ability to attract industry leaders in the IT/Cybersecurity sector,” said Jeff Edwards, president & CEO of EDCUtah. “This expansion demonstrates how Utah’s quality workforce and business-friendly environment continue to attract high-paying, state-of-the-art technical jobs to the State.”
The GOED Board of Directors 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.
About the Governor’s Office of Economic Development
The Governor’s Office of Economic Development (GOED) charter is based on Governor Gary Herbert’s commitment to economic development statewide. Utah’s economic development vision is that Utah will lead the nation as the best performing economy and be recognized as a premier global business destination. The mandate for this office is to provide rich business resources for the creation, growth and recruitment of companies to Utah and to increase tourism and film production in the state. GOED About the Utah Governor’s Office of Economic Development (GOED) accomplishes this mission through the administration of programs that are based around targeted industries or “economic clusters” that demonstrate the best potential for development. GOED utilizes state resources and private sector contracts to fulfill its mission. For more information please contact: Michael Sullivan, 801-538-8811 or mgsullivan@utah.gov.
About FireEye
FireEye® has pioneered the next generation of threat protection to help organizations protect themselves from being compromised. Cyber attacks have become much more sophisticated and are now easily bypassing traditional signature-based defenses, such as next-generation firewalls, IPS, anti-virus, and gateways, compromising the majority of enterprise networks. The FireEye platform supplements these legacy defenses with a new model of security to protect against the new breed of cyber attacks. The unique FireEye platform provides the industry’s only cross-enterprise threat protection fabric to dynamically identify and block cyber attacks in real time. The core of the FireEye platform is a signature-less, virtualized detection engine and a cloud-based threat intelligence network, which help organizations protect their assets across all major threat vectors, including Web, email, mobile, and file-based cyber attacks. The FireEye platform is deployed in over 40 countries and more than 1,000 customers and partners, including over 25 percent of the Fortune 100.
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