The company Gulfstream Aerospace Corp. started in the late 1950s when Grumman Aircraft Engineering Co., a company known for military aircraft production, developed a marketable business aircraft at its manufacturing facilities in Bethpage, N.Y. Dubbed the Gulfstream I (GI), the turbo-prop aircraft was named after the Gulf Stream, the current that flows along the coast of Florida, which was a favored vacationing spot for Grumman executives. The GI could sit 12 passengers comfortably, had a maximum speed of 350 mph at 25,000 feet and a range of 2,200 miles. The newly developed aircraft, the first of its kind designed specifically for business travel, was a success in the business world, prompting Grumman to develop a jet-powered corporate aircraft called the Gulfstream.