Felixstowe Businesses Say ’Yes’ To A Business Improvement District
Businesses and organisations in Felixstowe have made their voices heard and have voted in favour of taking more control over their future by setting up a Business Improvement District (BID).
Ballot results released by the independent scrutineer, Civica Election Services, revealed that 57% of all those who voted are in favour of the BID progressing. For the BID to be successful, a second trigger ‘majority by rateable value’ was also required and this was achieved with 61% of those who voted.
It is anticipated that the BID will commence from April 2021 for a five-year term and will be financed through a BID levy, the proceeds of which will be invested into the town centre and seafront on the additional projects that businesses have identified and set out in the business plan. Over the five years, the BID will generate over £600,000 to be spent in the BID area.
The BID Task Group, a consortium of local businesses which have been leading its development commented:
“This is a fantastic result for Felixstowe, and we would like to say thank you to those involved in bringing it about. Businesses have taken the bold decision to invest, particularly in these challenging and uncertain time. The real work begins now, and we are determined to make sure that we are at the forefront of the recovery and growth.”
For more information, please visit: www.felixstowebid.co.uk