BID FOR STOCKPORT GATHERS SUPPORT

The Stockport business professionals who recently launched Stockport Community Interest Company Vision Stockport are also the driving force behind a scheme to make Stockport more vibrant and a destination of choice.

Left: Proposed BID area

The proposed Stockport BID (Business Improvement District), is an initiative focused solely on improving the experience in the Town Centre for residents, shoppers, business users and tourists alike and moves to lobby support are now well underway with many of the town centre businesses already pledging their support. 

Like many traditional Town Centres, Stockport is under real threat of becoming irrelevant to the citizens of their surrounding communities and neighbouring areas; the aim of the BID is to generate funds that will be used to create a more vibrant, sustainable town centre with an improved offering for everyone.  

Leading the BID team is Tony Jones, managing director of Orbit Developments, who explains:  

“We want to create a Town Centre that everyone can be proud of and are calling upon the businesses within the core area of the town to support that vision. Funds for the proposed BID would be generated from a levy in addition to business rates, usually set around 1% of the rateable value and therefore not too great a financial burden on businesses.

“However, the sum of the levy amounts for the BID area can provide a collective fund that can make a huge difference and have great impact, generating as much as between £250,000 to £400,000 per annum, dependent on the size of the BID area and the levy percentage.

“The funds will be allocated to items and initiatives that are important to those paying the levy and that will make a real difference and have a positive impact in the town. Usually BIDs have delivered improved and more frequent events, enhanced safety and security in the Town Centre and better car parking provisions.

“The expenditure is controlled and managed by a panel representative of the BID area, including large and smaller retailers, professional services companies, landlords and representatives from the heritage and culture sector in the Town”.

For more information please visit www.stockportbid.com or www.visionstockport.org the steering group behind the launch of the BID.