Monday, Jun 16, 1997
South San Francisco, Calif. -- June 16, 1997 --More than 3,100 Genentech employees will spend over $75,000 June 16 - 27 in South San Francisco's restaurants and retail stores at the fifth annual "Genentech Goes to Town" event, bringing the total spent in South San Francisco under this program to nearly $300,000.
The program is designed to support Genentech's "hometown" of 21 years by encouraging its employees to shop locally for goods and services. To celebrate the fifth year of the program, Genentech is giving $25, an additional $5 than in past years, worth of "GenenMoney" to each of its employees. The special coupons are redeemable only at participating South San Francisco businesses.
During the two week program, Grand Avenue will be turned into a street fair with merchants displaying their wares, strolling musicians, and magicians that will make "GenenMoney" appear.
A ceremony, at which Genentech's contributions to the economic development of South San Francisco will be recognized by Mayor Joe Fernekes, will kick-off the program today at 11:00 a.m. at the steps of City Hall.
"The success of the Genentech Goes to Town program has been due to the enthusiasm and cooperation of employees and merchants alike," said Arthur D. Levinson, Ph.D., Genentech president and chief executive officer. "We are pleased to celebrate the fifth year of this program, which has developed meaningful and lasting relationships between the City, its merchants and Genentech employees."
"Few companies devote as much energy and money to their hometown's economic development as Genentech," said Joe Fernekes, Mayor of South San Francisco. "The Genentech Goes to Town program is a huge boost to the economic development along Grand Avenue."
Headquartered in South San Francisco for 21 years, Genentech, Inc., is a leading biotechnology company that discovers, develops and manufactures pharmaceuticals for unmet medical needs. The company is traded on the New York and Pacific Stock Exchanges under the symbol GNE.
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