High Street 'Business Improvement District' Idea

West Gosforth Councillors are working alongside representatives of business and Trinity Church to investigate the possibility of a Business Improvement District (BID) similar to one which has been introduced in the City Centre.

In a BID, 1% of the business rates for units in the area can be ring-fenced for improvements which meet the objectives of the BID. These could include measures to invest in better parking and environmental projects. The BID would be accountable to a board and could even employ its own staff. Businesses in the area would have to vote on the proposals before anything could go ahead.

Cllr Bill Shepherd said: 'The BID in the City Centre has demonstrated some clear benefits, particularly at a time of economic downturn. A BID for the High Street might help with the regeneration of shopping. It's early days, but we hope that further discussions will yield support from businesses.'