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20 years of BIDs marks £1bn investment in towns and cities
This month, the BID Foundation is marking 20 years since the anniversary of the first business improvement district pilot, with £1bn invested in local services and events to improve towns and cities for communities and business.
Piloted in 2003 and then brought into law with the UK regulations act the following year, Business Improvement Districts allowed for businesses to have access to additional services that would be beyond their individual budget and scope.
Norwich BID, established in 2012, is now one of over 340 BIDs established across all four nations of the UK. Currently, BIDs invest £152m in local economies across the country, helping to support investment in towns and cities at a time when public sector funding has been impacted by budget cuts across a range of departments.
Michele Wilby is the CEO Colmore BID and Co-Chair The BID Foundation.
“20 years is a significant milestone in the relationship between the management and development of the public realm and between the public and private sector. BIDs are a key mechanism to enable businesses to have a greater role in the animation, the narrative and the appearance of their towns and city centres.
Investment in the public realm is vital if we are to continue to create places where people can thrive, and we know the pressures that have been on the public purse over the last decade and a half. As a result, BIDs have proactively stepped into the role of delivering cultural activity, of attracting visitors and enhancing tourism locally, as well as connecting and empowering the voice of business on both a local and regional level.
Investment and placemaking go hand in hand. For BIDs, it’s about everyone working together and everyone feeling they have a say – that’s what creates successful places”.
Norwich BID are proud to see our very own City Hosts featured in the BID Foundation film which showcases some examples of fantastic work delivered by Business Improvement District up and down the country.
We hope you enjoy…