Businesses in Leeds will work together to drive the city centre forward on a global scale and generate up to £10million of investment.
More than 1,000 businesses were given the chance to vote for a Business Improvement District (BID) – and the result was overwhelmingly in favour of the plans.
We look forward to the BID making Leeds city centre an even more attractive place to be.
A BID is a business-led partnership that enables co-ordinated investment in the management and marketing of a commercial area, and it will launch in Leeds on April 1, 2015.
John Bywater is chairman of BID4Leeds – the not-for- profit company set up to establish and run the Leeds BID. He said: “We are delighted.
“This is a resounding success and is great news for the city.
“It demonstrates that there is a clear appetite amongst businesses for the BID.”
Mr Bywater added: “We now look forward to delivering the initiatives [...] to ensure that Leeds remains a top ranked city in the UK and goes on to compete with other European cities.”
It is hoped the scheme will be instrumental in promoting the city and could generate up to £10million to invest in the city over the next five years.
Leeds City Council executive member for transport and the economy, councillor Richard Lewis, said; “We look forward to the BID [...] making Leeds city centre an even more attractive and vibrant place to be.”
The aim of the BID is to raise the profile of the city with consumers and to increase footfall and spend.
The activities will be funded by a 1.25 per cent levy charged to those businesses in the area covered by the BID that have a rateable value of more than £60,000.
Major cities including London, Birmingham, Manchester, Nottingham and Newcastle all have BIDs.