Exeter Business Improvement District (BID)

This proposed initiative has the potential of creating large sums of money in the region of £600,000 each year for 5 years.  This would be raised from a small levy on the business rates of businesses within the city centre whose rateable values are over £10,000 per annum. 
Exeter BID funds would be spent on agreed projects in the BID area.  These could fund large city centre events, promote the city, extend Park and Ride services, create new exciting seasonal decorations, help recruitment of quality office staff, improve signage, increase footfall in retail areas and more.  At present, the BID Steering Committee is consulting with city centre businesses and considering all ideas submitted.  There will be large area grants made available too to ensure that businesses in the different parts of the city centre can put forward their joint ideas for the future.  At this stage nothing is ruled out.
Business Improvement Districts can only be introduced if voted in by a majority of the businesses within the BID area.  The Exeter vote is likely to take place in June 2011.
More information can be found at www.exeterbid.co.uk

Exeter Business Improvement District (BID) image

Exeter Business Improvement District (BID) image

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