Business Shows Confidence with a YES vote for Colmore Business District

Organisations and businesses eligible to vote for or against establishing a business improvement district (BID) in the area surrounding Colmore Row have given a resounding YES to the proposal. Ballot results released by independent election scrutineers, Electoral Reform Services, reveal that 87.3% of all those who voted were in favour of the BID progressing. For the BID to be successful a majority by rateable value was also required. This was achieved with 90.1 % of the total value of those who voted. (£45,205,250.00) The yes vote serves to send out a positive message that firms in the heart of the city are willing to make an investment to create a better business environment and enhance the identity of the area, despite current economic challenges. The Colmore Business District is host to 500 businesses, employing 24,000 people and is at the core of the city's business community. The BID will now be formed into an independent company, Colmore Business District Ltd, and will commence on April 1st 2009. The BID will be financed by a 1% levy on rateable value which will be collected by Birmingham City Council. It is anticipated in the first five year phase of CBD that at least £3.4 million will be generated to fund improvements and developments as set out in the BID proposal. The Colmore Business District BID was sponsored by Birmingham Forward, Birmingham Future and the Birmingham City Centre Partnership. This is the third successful BID in the city, with both Broad Street and Retail Birmingham already successfully established. The BID areas now cover the core of the city centre. Although all three BIDs are run separately, they share key aims and objectives including making each area a safer and cleaner environment. The Colmore Business District will appoint a full time BID Manager who will set to work on delivering the BID's key pledges that include:

• promoting a clear identity and profile for the area;
• delivering a high quality 'streetscape';
• enhanced environment including additional cleaning and maintenance; and
• make the area more welcoming and safer with the recruitment of five dedicated wardens.

Commenting on today's vote Gary Cardin, Head of Drivers Jonas Birmingham office and the BID Champion said: "This is a very positive day for businesses situated within the Colmore Business District. With the establishment of the BID, we will now be able to deliver a whole range of enhancements to the area that will improve the experience of those who work and visit here." "I believe today's resounding result in favour also demonstrates that business understands the real difference that a BID can make to an area. We are all experiencing an extremely challenging economic climate where each and every item of discretionary expenditure is being closely monitored. The Colmore Business District will now be able to demonstrate that Birmingham has a visible and vibrant business centre with a clear identity, is fully accessible and very welcoming." "We have seen, not only through the two existing BIDs in the city but from others around the world, how they can make a significant impact on the district in which they operate. I am confident that businesses will benefit greatly from the investment Colmore Business District will be able to make on behalf of its resident businesses and stakeholders." Commenting on today's result, Leader of Birmingham City Council, Councillor Mike Whitby said: "I have been a passionate advocate and supporter of the Colmore Business District and I am delighted that today's vote will make the BID a reality. This is the centre of commerce in our city, a very important, historic and high profile part of Birmingham. The added investment that will now be made from the funds generated by the BID will significantly contribute to ensuring Birmingham is recognised as a truly global centre for business." Jonathan Cheetham, Chair of the Birmingham City Centre Partnership commented; "The Partnership is proud to have promoted the development of all three BIDs in Birmingham City Centre. Over their five year terms, the Colmore Business District, together with Broad Street and Retail Birmingham will bring in over £10 million of additional private sector investment in the city centre. The Partnership will continue to support the BIDs and promote joint working and communication between them. However, our work does not stop there - seeing the many benefits that BIDs can bring, there is now a great appetite from businesses for a BID in the Southside area in the city, so BID number four could be on its way soon".

• Login to post comments