LANSING – Barracuda Networks is expanding in Ann Arbor with support from the Michigan Strategic Fund and Ann Arbor SPARK, the Michigan Economic Development Corporation announced Thursday.
“Barracuda’s investment means Michigan residents will have good job opportunities that could well have gone to other states,” said Steve Arwood, CEO of the Michigan Economic Development Corporation, the state’s chief marketing and business attraction arm that administers programs and performs due diligence on behalf of the MSF.
“The company’s decision to expand in Ann Arbor demonstrates that our business climate and our state’s world-class talent make Michigan a top destination for tech companies to locate, expand and grow new jobs.”
Barracuda Networks, Inc. is a leading provider of powerful, easy-to-use security and data protection solutions. The company offers cloud-enabled solutions that enable customers to address security threats, manage network performance, and protect and store their data. Its solutions are designed to manage information technology operations for its customers.
Barracuda is experiencing increased market demand and growing needs for its products and plans to expand its operations in the city of Ann Arbor. Barracuda said the project is expected to generate $2.3 million in capital investment and create 115 jobs related to computer terminal and other computer peripheral equipment manufacturing. As a result, the company has been awarded a $750,000 Michigan Business Development Program performance-based grant. Michigan was chosen over competing sites in Georgia and California.
“Ann Arbor is a tremendous place to do business and build innovative products. We benefit greatly from the growing tech community, the vibrant downtown area, and the many fine universities across the state of Michigan that produce top engineering talent,” said Rod Mathews, senior vice president and general manager, data protection at Barracuda. “We are excited to expand our presence and investment in the Ann Arbor community and the state.”