The Business Improvement Districts (BID’s) Project promotes collaboration and cooperation through the development and implementation of the successful Business Improvement District (BID) Model, as a framework to improve the quality of life and access to services through sustainable town and city centres.£716,000 has been awarded by the INTERREG IVA Programme for the delivery of the Project.
The towns that will benefit from this funding include:
A BID is a collaborative partnership between a local authority and the local business community to develop projects and services that will benefit the trading/economic environment within the boundary of a clearly defined commercial area. This project is of significant importance in these austere and frugal times and we look forward to seeing the positive impact that BID’s will have in improving long-term performance and competitiveness.
Following an initial Scoping Exercise, commissioned in 2011, to assess the strengths and weaknesses of each town against best practice criteria for partnership building and BIDs Development, a two year Action Plan has been developed for each town. The Action Plan seeks to progress each Partner town along the Continuum, by engaging and empowering businesses to play a more influential role in the regeneration of their locality. Implementation of the Model through business-led initiatives seeks to enable business growth, improve organisational effectiveness, increase public and private sector investment, improve regional competitiveness, and lead to greater economic and community well-being. Funding has been allocated for the implementation of pilot projects within each partner town to showcase the benefits of partnership working. Following a successful economic appraisal, implementation of the Action Plans commenced in spring 2013.