Council considers 'Yes' vote to new BIDs

By on 26/01/2012 in News

Birmingham City Council will be asked this week (Monday 30th Jan) to throw its weight behind a 'yes' vote in ballots to establish a new Business Improvement District (BID) in the city's historic Jewellery Quarter, and renew for another five years, the Kings Heath BID.

For a BID to be established or renewed, more than 50% of eligible non domestic ratepayers in a given area, by both number and rateable value, must vote 'yes' in a ballot.

With property interests in both the Jewellery Quarter and Kings Heath, approval by Cabinet will mean the Council voting 'yes' on behalf of those properties in the two ballots, to be held in the Spring/Summer.  If the ballots are successful, the Jewellery Quarter BID will commence in the Summer and the Kings Heath BID will be extended from 2013 to 2018.

Councillor Timothy Huxtable, Cabinet Member for Transport, Environment and Regeneration, said: “BID status gives businesses within a given area unprecedented opportunities to work together and use their local knowledge to make specific improvements for the benefit of all those who work, live and visit there. 

“Building on top of support already given to an area by the Council and other local bodies, BID status has proven to be a hugely successful mechanism by which businesses can drive their own economic fortunes.”

Proposals for each BID would see money raised through a local business levy spent on additional projects and services, including marketing, street enhancements, public information, business support and special events.

If approved, the Jewellery Quarter will become Birmingham's tenth BID. It is estimated that since the first BID (Broad Street) was set up in 2005, BIDs will have raised over £20 million of additional private sector funding in Birmingham.  The Jewellery Quarter BID and a renewal of the Kings Heath BID will increase this figure to approaching £23 million.

The City Council will also agree to set aside funding over five years to cover the BID levy collection costs, an arrangement which existing BIDs enjoy and one which ensures that every penny raised by the BID is invested in additional services.

David Mahony, Chair of the Jewellery Quarter Development Trust, said: “BID status will not only give us a strategic voice alongside other BIDs in Birmingham, such as Southside, Retail, Colmore Row and Broad Street, but it will also raise around £400,000 per annum for projects and services in the Jewellery Quarter, agreed and prioritised by the levy payers themselves.”

 Notes to Editor

 A Business Improvement District (BID) is a precisely defined geographical area within which the businesses have voted to invest collectively in additional local projects and services to enhance their trading performance and environment.

  • There are currently over 100 BIDs in the UK - nine of which are in Birmingham.

Birmingham's BID websites:-

  • Acocks Green BID                    
  • Broad Street BID                       
  • Colmore Business District BID
  • Erdington BID                            
  • Jewellery Quarter BID (developing)
  • Kings Heath BID                       
  • Northfield BID                            
  • Retail Birmingham BID             
  • Southside BID                           
  • Sutton Coldfield BID                  

Tags: , ,


If you enjoyed this article, subscribe now to receive more just like it.