NORWALK, Conn. -- The Connecticut State Bond Commission approved funding to help Datto, one of the fastest-growing information technology firms in the world, to expand its headquarters at the Merritt 7 office park in Norwalk.
Datto's expansion will help retain or create 250 jobs in Connecticut over the next two years.
“From the very beginning, I’ve been committed to keeping Datto Connecticut-based and employing the state’s best engineers, technicians and workforce overall,” Datto founder and CEO Austin McChord said in a statement. “To receive such support from the State of Connecticut is incredible for the company and for a Connecticut native like myself. We plan on building Datto into world-class technology vendor, and solidifying our headquarters is the first step.”
The Connecticut Department of Economic and Community Development will provide $6 million in state funding for Datto’s expansion project, which will cost an estimated total of $15 million.
“Companies like Datto are developing the new products, technologies, patents and high-wage STEM jobs that are keeping our economy competitive. On our end, we have been making strategic investments in our STEM talent pool and higher education to give these companies access to the engineers, technologists, scientists and inventors at the core of our workforce,” Gov. Dannel P. Malloy said in a statement.
“Working together, we will continue to invest in attracting and growing innovative companies and industries that are leading the way in the 21st century and move our state towards a strong and sustainable economic future.”
The state funding, consisting of a low-interest loan and a grant-in-aid, will be used for construction, leasehold improvements and the purchase of machinery and equipment. Datto anticipates hiring a minimum of 100 high-wage employees over the next two years.
Datto is a leading vendor of hybrid cloud-based backup, disaster recovery and intelligent business continuity solutions, providing best-in-class technology and support to over 5,000 managed service providers throughout the world.