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Cisco Systems Gives $50M To Address Homelessness

SAN JOSE (AP) -- San Jose, California-based Cisco Systems Inc. is donating $50 million to address homelessness in Santa Clara County and is encouraging other Silicon Valley companies to also step up.

The internet gear maker announced the major donation Monday. In a blog post, Chief Executive Chuck Robbins said it's evident to people in the San Francisco Bay Area that homelessness has reached a crisis level, costing the county $520 million per year.

Cisco's donation will be spent over five years with Destination: Home, a public-private partnership focused on providing permanent housing to chronically homeless people.

He said the group's work has shown that providing housing and proper social service support help formerly homeless people get healthy, beat addictions, reunite with families and find work.

Cisco sells routers, switches, software and services.

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