Monday, Sep 14, 1998
South San Francisco, Calif. -- September 14, 1998 --Beginning today through September 25, more than 3,700 Genentech, Inc. employees will spend more than $100,000 in South San Francisco's restaurants and retail stores at the sixth annual "Genentech Goes to Town" event, bringing the total spent in South San Francisco under this program since 1993 to nearly $400,000 -- an appropriate gift for the city's celebration of its 90th anniversary.
"Genentech Goes to Town" is designed to support Genentech's hometown of 22 years by encouraging its employees to shop locally for goods and services. This year Genentech will give $25 worth of "GenenMoney" to each of its regular and temporary employees, post-doctoral fellows, summer interns and visiting scientists. The special coupons are redeemable only at participating South San Francisco businesses.
During the two-week program, Grand Avenue, in South San Francisco's downtown area, will be turned into a street fair, with merchants displaying their wares, strolling musicians, and magicians that will make "GenenMoney" appear. Throughout the two-week program, special shuttle buses will take employees back-and-forth from Genentech to Grand Avenue.
South San Francisco Mayor Eugene Mullin will kick-off "Genentech Goes to Town VI" today with a ceremony at 11:30 a.m. at the steps of City Hall, at which he will recognize Genentech's contributions to the economic development of South San Francisco.
"The success of Genentech Goes to Town results from the enthusiasm and cooperation of employees, the City of South San Francisco and merchants alike," said Arthur D. Levinson, Ph.D., Genentech president and chief executive officer. "This program enables Genentech employees and the city to come together as caring neighbors in a mutually beneficial event, where this year we are excited to celebrate both the sixth anniversary of the program and the 90th anniversary of the city."
"Few companies devote as much energy and money to their hometown's economic development as Genentech," said Mayor Mullin. "The Genentech Goes to Town program has been and continues to be a huge boost to the economic development along Grand Avenue. We have many reasons to celebrate our 90th anniversary, and our association with our neighbor Genentech is indeed one of them."
Headquartered in South San Francisco for 22 years, Genentech, Inc., is a leading biotechnology company that discovers, develops and manufactures pharmaceuticals for significant unmet medical needs. Eleven of the currently marketed biotechnology products stem from Genentech science. Genentech markets six biotechnology products in the United States. The company is traded on the New York and Pacific Stock Exchanges under the symbol GNE.
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