During this traditional season of giving, Applied Materials and our employees are committed to the idea of making a local impact. We believe that active engagement over a prolonged period of time helps build community and better positions us – as individuals and as a company dedicated to operating with responsibility and integrity – to help meet the needs of our neighbors around the globe.
In Silicon Valley, where the economic divide continues to grow driven in large part by the high cost of housing, these needs are increasing. The Giving Code, a recent study funded by the Packard Foundation, explores the region’s “prosperity paradox,” noting that Silicon Valley boasts the greatest income gap in the country. While there are a staggering 76,000 households with investable assets of $1M or more (not including home value), others are struggling each day to secure affordable housing, nutritious food and basic medical care.
So, what can we do? As a Santa Clara- based company, Applied and its Foundation manage a portfolio of strategic philanthropic grants addressing basic needs including access to quality education, alleviation of hunger and support of the nonprofit sector. While our grantmaking has expanded with the establishment of offices around the world, we have intentionally maintained a deep commitment to Silicon Valley. We believe it is important to make a positive contribution to this community.
In addition, we provide opportunities to increase employee awareness of local issues by engaging them in projects that benefit the community. We are currently in the midst of our annual North America Food Drive that will generate more than $1.6M for 40 food banks in cities where our employees work or live.
As the year ends, please consider joining Applied and our employees in learning more about how each of us can help build a more vibrant, compassionate community through impactful local philanthropy and personal engagement. Checking out and acting on information in The Giving Code can be a good start to the new year.
Stay tuned for my next blog where I will look at how our offices around the world are making a positive impact in their local communities.
As we wrap up 2016, it is an ideal time to reflect on the accomplishments of Applied teams around the world who have demonstrated a commitment to the company’s core value of operating with responsibility and integrity.