Member Article

Support builds for Leeds Business Improvement District as ballot looms

Support has been mounting for the establishment of a Business Improvement District for Leeds city centre as the business vote for the project looms.

Chris Booth, a partner at Leeds law firm Pinsent Mason and a member of the BID4Leeds’ steering group recommends businesses to vote in its favour. He believes that it will bring numerous benefits to the city and that now is the perfect time for Leeds to have a BID.

A business plan has been created for BID4Leeds following more than a year of consultations with businesses and stakeholders across the city.

It focuses on a series of projects around the themes of ‘Welcome, Experience and Voice’. The projects range from small scale tangible communications through to large scale strategic investment possibilities.

All are designed to ensure provision for all business sectors being asked to invest in the BID, shaping the city of Leeds for the next five year to help drive it forward as a high ranking UK city.

Julie Grail, chief executive of British BIDs who said: “A BID gives a city the opportunity to create a significant and coordinated business voice based on the true mandate it achieves through a consultation and a ballot which in the case of Leeds covers more than 1,000 businesses.

“It would guarantee an annual income for 5 years which for Leeds would amount to around £2 million per annum.”

“It is quite surprising that Leeds, given its scale, has not yet established a BID.

“This could be partly due to the significant investment the city has seen over the years, particularly in the Trinity development.

“The city was in transition but now post Trinity completion, there is a desire and a need to bring the city forward for further enhancement and investment. A BID would be the perfect mechanism for this.”

“With heightened expectations and challenges on the public purse, BIDs provide the commercially focused opportunity to ensure that a city has a significant voice and potential to collaboratively invest for the future.

“No other mechanism exists to guarantee funds for the benefit of the locality. There are almost 190 BIDs around the UK and many of the big cities have had BIDs for many years including a number that are already in their second term.”

This was posted in Bdaily's Members' News section by Clare Burnett .