A TRADITIONAL feature expected from the local big company of a “company town” was corporate philanthropy directed towards the town.
With its ninth retail outlet now secured, Tesco is evidently very committed to Worthing and, although not a manufacturing company, it is at least debatable whether the term “Tesco Town” is justified.
What is certain is that the funding crisis for Worthing’s theatres offers a golden opportunity for Tesco to underline its commitment to Worthing with long-term financial support for its theatres.
Half a million pounds per annum would be about one seven-thousandth part of latest annual profits and, no doubt, such philanthropy would secure some tax exemption.
Incidentally, it should be understood that corporate philanthropy does not include the provision of goodies as part of the development deal.