9/30/2003 - Cadence Design Systems, Inc. (NYSE: CDN), along with InnVision, a leading public-benefit corporation that provides housing and comprehensive services for homeless individuals and families in Silicon Valley, announced the grand opening of InnVision's new Georgia Travis Center facility in San Jose, a drop-in center serving thousands of local at-risk women and children each year.
Cadence's Stars and Strikes program, which raised $675,000, is the foundational cornerstone for the new Georgia Travis Center, which provides a safe and supportive environment that promotes self worth and independent living. The new site is a tremendous improvement over the old facility with an additional 10,000 square feet the new Georgia Travis Center will be the largest and most comprehensive service center for homeless and at-risk women and children in the Bay Area. A treatment room with medical exams will encourage healthier living while expanded food services will serve a greater amount of people coping with hunger. The computer lab, twice the previous size, will train clients at a swifter pace for re-entry into the workforce and additional classrooms will teach more clients the necessary skills for independent living. Additional child development programs and training will help women increase their self-sufficiency and coping skills, and children's activities are provided to give mothers and their children respite and recreation.
"The opening of the Georgia Travis Center is an example of the great success of Stars and Strikes and Cadence's mission to bring together Silicon Valley's diverse community," stated Ray Bingham, CEO and president of Cadence. "The Georgia Travis Center is very important to our community, and I am pleased that the Stars and Strikes program, along with the support of the San Jose Sharks and the many contributions of Cadence employees, have helped make this new center possible."
"So many women and children in Silicon Valley must deal with the daily effects of homelessness," said Christine Burroughs, CEO of InnVision. "Without the Stars & Strikes contribution, this project would not have been possible, particularly during this recession. These funds enabled us to cover half of the needed improvements and leverage other corporate and foundation support. Thanks to Cadence and the generosity of our other corporate sponsors, we are now able to make an even greater impact on the community by enhancing our service-delivery system at this center."
The grand opening event will begin with remarks from Burroughs and Bingham, followed by lunch and walking tours of the new facility located at 297 Commercial St. in San Jose.
Cadence is the largest supplier of electronic design technologies, methodology services, and design services. Cadence solutions are used to accelerate and manage the design of semiconductors, computer systems, networking and telecommunications equipment, consumer electronics, and a variety of other electronics-based products. With approximately 5,000 employees and 2002 revenues of approximately $1.3 billion, Cadence has sales offices, design centers, and research facilities around the world. The company is headquartered in San Jose, Calif., and traded on the New York Stock Exchange under the symbol CDN. More information about the company, its products and services is available at www.cadence.com.
InnVision has been serving the poor and homeless in Santa Clara County since 1973 and now serves more than 14,000 individuals annually at 17 sites. The agency addresses the multiple needs of people in transition, including emergency shelter, transitional housing, food, clothing, showers, laundry, healthcare, job training, classes and access to telephones and computers. Its shelters, called "Inns," enforce a drug and alcohol-free environment and focus on self-help activities.
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