Newport Now Business Improvement District (BID) has been backed for another five-year term following a successful ballot of city centre businesses.
A total of 64% of businesses who took part in the ballot voted in favour of the BID’s continued tenure.
The results, released by Newport City Council which conducted the independent ballot, show that businesses with a combined rateable value of more than £2.2 million voted positively. Turnout was 22%.
Newport Now BID will manage more than £1.3 million worth of investment over the next five years, building on their success of the last five years which has seen the BID play an increasingly significant role on behalf of city centre businesses.
Kevin Ward, BID Manager, said:
“We are delighted with the results of the ballot, which show businesses in the city centre understand the importance of having a BID to represent them and to help improve our city centre.
“The projects we have delivered in the five years since 2015, including our Ambassadors service, events such as the Christmas lights switch-on and Record Store Day, shopfront improvement grants, savings advisory service and our gift card, were a good start for the BID. We are now looking forward to progressing this work as well as expanding the BID area to include vibrant businesses on parts of the riverfront, Clarence Place and Clytha Park Road.
“Businesses in Newport have a shared ambition for the city centre and we now have a mandate to deliver our exciting five-year business plan and, in partnership with other stakeholders, to ensure a bright future for the BID area.”
Zep Bellavia, Chair of the BID Board, said:
“The BID has taken the lead in tackling many of the issues facing the city centre. I’m delighted businesses have seen the worth and value of the BID and delivered a Yes vote for another five-year term.
“A huge amount of improvement work is under way or about to start in the city centre, from the Chartist Tower to the indoor market, from the former sorting office on Mill Street to new residential development on Commercial Street.
“City centre businesses are passionate about Newport and it is the BID’s role to represent their interests and ensure their money is spent appropriately. Thank you to all the businesses who voted Yes.”
Newport Now BID2 will operate from April 1, 2020 for five years. The BID is funded by a levy paid annually by businesses in the BID area.
Since its operations began in 2015, Newport Now has delivered a number of safety, cost-saving and promotional projects – all aimed at increasing footfall and improving the general business environment in the city centre. The BID also provides its members with a strong lobbying voice on issues such as business rates and anti-social behaviour.
Newport Now BID is incorporated as a company limited by guarantee and its board of volunteer directors will continue to be drawn from levy-paying businesses.
