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RESOLUTION NO. 2005 -132 <br /> A RESOLUTION OF THE BOARD OF COUNTY COMMISSIONERS OF <br /> INDIAN RIVER COUNTY, FLORIDA; RECOMMENDING TO <br /> ENTERPRISE FLORIDA THAT XSTREAM SYSTEMS INC. BE <br /> APPROVED AS A QUALIFIED TARGET INDUSTRY PURSUANT TO <br /> s.288.106, FLORIDA STATUTES; AND PROVIDING AN <br /> APPROPRIATION OF $500,000 AS PART OF A LOCAL JOBS GRANT <br /> PROGRAM FOR LOCAL PARTICIPATION IN THE QUALIFIED <br /> TARGET INDUSTRY TAX REFUND PROGRAM, AND PROVIDING <br /> FOR AN EFFECTIVE DATE. <br /> WHEREAS, the business under consideration, XStream Systems Inc., is a manufacturing <br /> facility and corporate headquarters for electronic detection devices; and <br /> WHEREAS, XStream Systems Inc. is currently located in Vero Beach, Florida, and New <br /> Egypt,New Jersey; and <br /> WHEREAS, XStream Systems Inc. is an industry targeted by the State of Florida and <br /> Indian River County for new high-wage job creation; and <br /> WHEREAS, XStream Systems Inc. is considering expanding its manufacturing facility <br /> and corporate headquarters in Indian River County; and <br /> WHEREAS, XStream Systems Inc. is also considering alternative sites in the states of <br /> New Jersey, California, and Massachusetts, areas which are also offering location incentives; and <br /> i <br /> WHEREAS, XStream Systems Inc. presently employs sixteen (16) employees statewide; <br /> and <br /> WHEREAS, XStream Systems Inc. is planning to create up to five hundred and forty six <br /> (546) additional full-time equivalent new jobs in Indian River County; and the average wage for <br /> the additional jobs will exceed the area's average wage; and <br /> WHEREAS, XStream Systems Inc. has prepared an application for a grant under the <br /> State of Florida's Qualified Target Industry(QTI) Tax Refund Program; and <br /> 1 of 3 <br />