Some of the UK’s largest companies look set to become involved in an initiative to help regenerate former mining communities.
The ten year Network Space project, led by the Coalfields Regeneration Trust, aims to provide new employment in minefield areas by attracting financial and logistical support from companies in which large parts of the £17 billion worth of mineworkers’ pension funds are invested.
Alan Wallace, chief executive of the trust, said around half of the companies approached had responded positively by showing ‘a willingness to be involved’.
Among those asked for help were GlaxoWellcome, BP Amoco, BT, Lloyds TSB, HSBC, SmithKline Beecham, AstraZeneca, Unilever, Diageo, Halifax, Prudential, Rentokil, Allied Zurich and General Electric.
Wallace stressed that the project was a chance for companies to show their social responsibility. ‘Many have corporate affairs departments and are already involved in some form of community engagement’, he said.
The trust says help with the initiative may involve some form of financial contribution, but is more likely to centre around secondment of staff to community organizations or help with recruitment and training.
The initiative has received £50 million from the government to cover its first three years. It hopes to create more than 1000 jobs through five projects early next year in Salford, Newcastle under Lyme, Jarrow, Barnsley and Featherstone, where it will develop 500,000 square feet of space for small businesses.