Governor Bush Applauds Expansion of XStream Systems, Inc. in Florida

Press Release

GOVERNOR BUSH APPLAUDS EXPANSION OF XSTREAM SYSTEMS, INC. IN FLORIDA

~~ ~Headquarters expansion creates 546 new jobs in Vero Beach~ ~~

Governor Jeb Bush today announced that XStream Systems, Inc., a cutting-edge firm specializing in X-ray-based detection equipment, is expanding its headquarters, research and development and manufacturing operations in Vero Beach, creating 546 new high-value jobs.

"XStream Systems adds to the diverse group of innovative companies that make up Florida's ever-growing information technology industry," said Governor Bush. "I am pleased the state was able to assist the Indian River community in encouraging expansion of this exciting company, and I thank XStream Systems for supporting Florida as the 'The Innovation Hub of the Americas.'"

XStream developed a patented Energy Dispersive X-ray diffraction detection system for the industrial, government, military and medical markets. The company's Xtrusive™ system evaluates the molecular structure of an item, creating a unique molecular "fingerprint" that can be compared to known objects such as explosives, drugs, weapons and gems.

In the next four years, XStream Systems plans to invest $10 million in four buildings that will house research and development activities, production facilities and headquarters offices. The company's capital investment will also include $3 million in manufacturing equipment and $6.5 million in other equipment such as computers, furniture and engineering equipment.

"This project will generate considerable economic revenue for the county and could very well be the stimulus to attract similar high-tech companies," said Indian River County Commission Chairman Tom Lowther.

The company was founded by Brian Mayo, who serves as president and CEO, and his brother, William Mayo, who serves as chairman of the scientific advisory board. The company's initial market for its molecular threat detection system has been law enforcement agencies, government research and development centers and forensic labs nationwide and worldwide.

The Governor's Office of Tourism, Trade, and Economic Development worked closely with Enterprise Florida, Inc., Indian River County Commission and the Indian River County Chamber of Commerce to secure this project for the region and state. Florida's competition for the project included California and Massachusetts.

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