Businesses across Rochdale town centre have voted to form a Business Improvement District (BID), in a move which could generate £1.5 million over 5 years.
76% of votes cast voted in favour of the BID by total number of businesses, and 88% of votes cast voted in favour of the BID by rateable value. Turnout was 52.5%.
The cash is generated through an annual levy on business rates of businesses which have a rateable value of more than £12,000 within a defined area. In Rochdale, it will be used to help attract more shoppers, better promote the town centre offer and improve safety. The BID will operate for 5 years from April 2019.
The move was backed by organisations large and small, including the Wheatsheaf and Exchange shopping centres, the Regal Moon, Chantilly and the Flying Horse.
Lorenzo OReilly, Centre Manager of the Exchange Shopping Centre and Chair of the Rochdale BID Development Steering Group, said: “This is superb news for Rochdale and huge congratulations must go to all the businesses which rallied and joined forces to ensure we secured the yes vote. Our new BID will be led and driven by the businesses themselves and this funding and commitment of collaboration will enable us to build on the town centre’s unique strengths and assets.
“Thanks must also go to all those businesses who engaged in the process by sharing their ideas and opinions on how we can work together to improve the area and who, ultimately voted in favour of the plans.
“The BID’s business plan, which businesses were being asked to vote on, has been designed to begin addressing the issues which came up during lengthy consultations with many of the businesses in the BID area, from the small independents to large national businesses.”