Tower Colliery and Hargreaves Services made a commitment, as part of its overall development scheme, to donate money to help local communities thrive. This first step is for each community to set up their community committee which will be responsible for looking at all applications for grants.
As part of its commitment to supporting communities in mining areas Tower Fund will also be creating a 'Common Fund'. This will benefit other communities within the South Wales area and will receive 5 pence per tonne of mineral sold from Tower Colliery.
The Tower Fund is forecasted - although it could be higher - to invest £3m over the next seven years. The finance is non-repayable. Grants will be gifted to the community to encourage regeneration and growth in the area. Recipients are expected to include social enterprises and green energy schemes to training opportunities and youth projects.
The Tower Fund Business Partnership has been set up to work together with organisations, linking them with the community to submit applications to the Tower Fund. This will have the benefit of both maximising the impact of the Tower Fund to the community and meeting the business and CSR (Corporate Social Responsibility) objectives of organisations.