Businesses in Leamington Spa have voted to support their Business Improvement District (BID) for a fourth term.
BID Leamington will continue to help ensure the town centre and its businesses are supported for the next five years after receiving a ‘yes’ vote from businesses.
The news has been announced following a month-long postal ballot of businesses eligible to vote, with 90 per cent voting in favour by number and 94 per cent in favour by combined rateable value.
The result will see the town centre benefit from more than £1.8 million of collective investment between now and 2028 and will ensure the continuation of popular events and promotions such as the Leamington Food and Drink Festival, Love Leam, and Christmas activities.
Businesses first voted to establish the BID in 2008, and to renew it for further five-year terms in 2013 and 2018. Recognised as one of the most creative and innovative small BIDS in the UK, it is funded by retail and leisure businesses and properties within a set boundary and with a rateable value of £15,000 and more, who pay an annual levy for the non-profit making organisation.
Ahead of the latest ballot, BID Leamington published a comprehensive five-year business plan which focuses on promoting, supporting and enhancing the town centre.
It outlines its vision, priorities and strategies to manage and promote the day-time and evening economy as well as continuing the collaborative spirit which was vital during the pandemic. The result means that the BID can now progress with its plan.
Stephanie Kerr, executive director of BID Leamington, said: “The team and I are very grateful for the trust and support the business community has shown by voting for a further five years.
“We are committed to championing and supporting our town centre and its businesses and the past five years in particular have seen the importance of working together.
“Looking forward we are determined to embrace the challenges and opportunities ahead and greatly value the help of the wider community who are visiting and supporting local businesses.
“This continued investment from businesses into our town centre through BID, means that popular events like the Food Festival will go ahead in September, alongside a host of other year-round activities.
“Funding for Christmas lights, streetscape enhancements, local websites, directories and promotions will remain and together we will plan new projects to bring vibrancy and foster our brilliant community.
“Importantly, we will continue to offer all kinds of business support, lobbying, representation and place management including addressing vacant units, whilst welcoming new investment and working towards a sustainable and resilient future.
“I also wish to thank the Board of Directors who offer their time voluntarily and we look forward to working alongside our members and local stakeholders to deliver the new business plan and ensure our town centre is a place we are proud of.”
Gurdip Chatha, Chair of the BID Leamington Board of Directors and managing director of Esqué Beauty, said a further five years will enable the BID team to continue to champion the town’s reputation as a premier shopping, leisure and business destination.
She said: “We are delighted that businesses have voted in favour of the BID being in place for a further five years and it comes hot on the heels of news that Leamington was named the best place to live in the Midlands in the Sunday Times.
“The BID team is dedicated to making our town the best it can be for the whole community.
“This means ensuring our town centre is safe, attractive and welcoming, delivering inclusive events to attract visitors, supporting businesses to be resilient, lobbying for improvements, helping to attract new investment and convening dialogue to shape a sustainable vision for the future.”