Large companies usually employ a lot of local labor and have in many cases improved the employment rate in the communities where they are established, thereby improving the quality of life of the members of that community. Half the time this is where the benefit usually stops and in some cases the companies may end up producing harmful environmental wastes or having a rather exploitative or unfavorable working conditions which on the long run prove more harmful to the local community than all the benefits they produce.
When a company is first established, oftentimes it is difficult to know which would prove to be most beneficial or harmful on the long run, but whatever the case, activities that promote community building , team bonding, are helpful for both community and company and there seems to be no better way for both parties to get along than through healthy sporting competitions. It allows for there to be a bridging of th gap in many extents between employers and employees as well as improve the acceptance of the local indigenes of the community to the activities of the companies. Several companies may even take advantage of these events to market their products as well as leverage the opportunity to give back meaningfully to the community through incentives that may come in form of winning cash prices or scholarships from these sporting events.
I beleive it is important for Companies to support the local communities by providing more sports and community facilities to the local community based on this mutual need of both the companies and the community if they must both thrive. Since these large companies would ultimately need a buy-in from local participants as well as an assurance of their security while carrying out their activities in the said community it is only fair that the community benefits as well from the profits especially considering the potential hazards which may be faced from environmental pollution in a few cases.

Bearing in mind that often times environmental pollution is unintended and whereas I do not advocate for environmental pollution, It would seem however that , in the setting of the occurrence of detrimental environmental effects brought about by the activities of a certain company, the locals may be more forgiving if they have otherwise benefited from infrastructures, amenities, scholarships or other benefits and may be more cooperative in improving and finding more ecofriendly solutions as both parties try to forge ahead.
Therefore, I think Companies should always be deliberate in engaging with key community stakeholders, identifying their needs and seeking for areas that they can make their impacts felt locally as on the long run this has proven historically to be good for business.