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Stockport BID gets Council support - 8th September 2016

Stockport Council is showing its support for the town centre to be designated a Business Improvement District - Stockport BID - ahead of October's ballot.

Business Improvement Districts are able to generate monies used to fund projects that will help businesses to thrive, attract more visitors and offer a wider choice.
Over the next five years, the BID will raise £2m to fund such projects in Stockport, projects chosen by the businesses themselves.

Businesses that fall within the BID area will be balloted in October and able to vote in favour of the BID which will be in operation from April 2017.

More than 200 BIDs are already operating in town and cities across the UK, including Manchester City Centre and Altrincham.

In partnership with Vision Stockport, the Council believes the Stockport BID will enable a wide range of projects and initiatives to be implemented to improve the town centre for everyone.

Councillor Kate Butler, Stockport Council’s Executive Member for Economy & Regeneration, said: “The BID is a new and exciting proposition and offers the council and town centre businesses an excellent opportunity to work even more closely together to make improvements and really help the area come alive.

"The Council has been a major supporter of Vision Stockport in developing the BID and I would encourage all businesses in the BID area to seize the opportunity when their ballots arrive and vote in favour of the proposals."
A Stockport BID will create a more vibrant town centre. Stockport will be more attractive to employers, provide a better offering for their employees, attract more visitors and encourage new businesses to locate here.

It will attract more shoppers, offer greater choice and work to create a more exciting evening economy.

The BID will hold new events throughout the year, building upon Stockport’s historic assets as well as more recent happenings such as ‘Foodie Friday’, Stockport Festival and the Stockport Classic Vehicle Show.

By creating a single identity and a central source of information, the Stockport BID will promote Stockport town centre to a wider audience.

What is a BID?
A BID is a business-led and democratically-elected organisation, which is run by and for its business members. Income is raised through a mandatory BID levy on businesses occupying properties with rateablevalues.To form the BID, a formal ballot of businesses is needed – those within the boundary and eligible to pay the levy - in which a majority voting must be delivered. Details about the BID ballot wil be published shortly.

The Council will hold the ballot for the BID between 29th September 2016 and 27th October 2016 and will carry out all necessary arrangements, including collecting the BID levy in the event that the ballot is successful.

For More Information
For any information about the proposed BID, please visit www.visionstockport.org or email us at bid@visionstockport.org or our colleague Mike Fairmaner: Mike.Fairmaner@themeans.co.uk

 
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