Businesses across Northampton town centre have voted in favour of renewing their status as a Business Improvement District (BID) – securing a significant £1.5 million to be spent on improving the area.
This positive result follows 18 months of planning, in-depth interviews, surveys and workshops and a month-long ballot in which hundreds of businesses in the area were asked to vote on the proposals.
75% of votes cast were in favour of the BID Renewal Ballot and this represented 73% of votes cast by Rateable Value.
As a result of the yes vote, the renewal of Northampton BID will commence on the 1st April 2021 and businesses with a rateable value of £5,000 or above will pay a levy based upon their rateable value, creating a collective fund of more than £1.5 million to spend over the next five years.
The plans were spearheaded and driven by the Board of business representatives from across the town, supported by pfbb UK, who develop and deliver Business Improvement Districts across the country.
Speaking about the ‘Yes’ vote, Andrea Smith (Franklins Solicitors) Co-Chair of the BID, said: “This is superb news for Northampton and a huge congratulations must go to all the businesses which rallied and joined forces to ensure we secured a yes vote in our renewal ballot. Thanks must go to all those businesses that 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 to support each other in these challenging and uncertain times.
“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 the lengthy consultations with many of the businesses in the BID area, from the small independent businesses to large national businesses.”
“The money will now be spent through the three key strategic objectives and their related activities”
The Northampton BID vision is ‘To continue to work with all stakeholders to define, develop and promote the identity of Northampton town centre which reflects its strengths, characteristics and heritage and is a sustainable and vibrant place which generates pride for its businesses, local residents, and visitors.”
The new BID’s Business Plan:
• Objective 1 in the plan is to promote Northampton town centre, its business, cultural, leisure, educational and social offer locally and regionally
• Objective 2 in the plan is to create a sense of ‘place’ for visitors and people working in the town centre to enjoy
• Objective 3 in the plan is to encourage growth, development and investment of businesses which complement and build on the strengths of Northampton town centre
Brendan Bruder, Co-Chair of the BID, said, “The renewal of the Business Improvement District provides us with an opportunity to forge even stronger links between businesses in the town centre and the new local authorities in Northampton and West Northamptonshire. Towns and cities across the UK are changing rapidly and we need to ensure that Northampton does not get left behind but takes advantage of its unique position in terms of its heritage and the strength of its people through their passion for the town.”