Business Improvement Districts (BIDs)
West Suffolk Council has announced that the businesses of Bury St Edmunds have voted for another five year term for Our Bury St Edmunds Business Improvement District.
147 businesses cast their votes in the ballot and 84% of these voted in favour of the BID.
West Suffolk has two Business Improvement Districts (BIDs) covering parts of the district. BIDs are defined areas within which businesses are required to pay an additional tax (or levy) in order to fund projects within the district's boundaries.
Our Bury St Edmunds Business Improvement Districts (BIDs)
Bury St Edmunds is covered by 'Our Bury St Edmunds'. This BID has been in operation since 2009 and is responsible for running the Food and Drink Festival each summer, the Whitsun Fayre, Christmas lights switch on, and the Festival of Sport (among other initiatives).
Our Bury St Edmunds works with businesses inside and outside the defined geographic BID zone, as well as local authorities and other regional organisations to deliver six key priority areas for Bury St Edmunds. They include:
- business support
- Christmas lights
- safety and security
For more information visit: Our Bury St Edmunds website
Love Newmarket Business Improvement District (BID)
Established in July 2016, the aims to be an inventive and progressive organisation run for local businesses by local businesses. The Love Newmarket BID covers a defined area of the town centre where the team works to improve the trading environment and identifies additional projects and services that develop the town centre.
Love Newmarket BID enhances and promotes the local environment for its businesses, employees, customers and the community. The BID will raise £1.2m over its five year term through an annual levy based on the rateable value of business premises over £3,000 within the BID area.
The overarching vision of Love Newmarket BID is to make a clear positive impact on the vitality of the town centre and the success of the businesses within it. Love Newmarket BID covers virtually the entire town centre and represents approximately 350 levy payers including well-known brands and organisations in the retail, leisure, hospitality and public sectors.
For more information visit: Love Newmarket website