What is a Business Improvement District?
Business Improvement Districts were first developed in the UK in 2004. There are now 300 established BIDs, including in Manchester.
A Business Improvement District or BID is a flexible funding business-led partnership to improve and manage a clearly defined commercial area to deliver additional projects and services to benefit businesses in that area. It is based on the principle of charging an additional levy on all business rate payers in a defined area following a majority vote by those ratepayers. The levy is typically 1% - 2% of the rateable value. BIDs are generally regarded as a time-limited, usually 5 years, and are a locally controlled method for improving the environment and economic performance of the defined area of a town or city. Local partnerships are initially developed to undertake the work to:
- Decide the BID area and what improvements they want to make
- How the partnership will manage it and what it will cost
- How long it will last (up to 5 years with renewal vote following initial term)
In 2018 there were over 100 BIDS in the UK bringing an estimated additional £120 million into local trading environments. Under voting at least 75% of businesses polled have been found to be in favour. Examples of services or projects funded from UK BID initiatives include:
- Street, business security
- Street, alley, and pavement cleaning and graffiti removal
- Promotions/ public events/ expanding tourism
- Retail retention and recruitment
- Development of parking facilities, pedestrian shelters, public amenities, fountains, parks, kiosks, lighting, benches, and litter bins.
Results of the ballot
The ballot closed at 5pm on Thursday, 1 November 2018.
The proposed Business Improvement District within Rochdale Town Centre is approved as a majority of the Business Ratepayers in the proposed BID area who voted, voted in favour of the proposal, both by aggregate rateable value and numbers voting.
More information on Rochdale Business Improvement District
You can view more information on the Rochdale Town Centre Business Improvement District website.Rochdale Town Centre Business Improvement District website