£1.4m boost for Derby’s Cathedral Quarter

Firms in Derby’s Cathedral Quarter are set to benefit from spending in excess of £1.4m after voting to renew the area’s status as a Business Improvement District (BID).

85% of votes cast were in favour of the BID Renewal Ballot – the best ever result for the Cathedral Quarter in the four ballots it has held since 2007.

Over a million pounds will now be spent on improving the trading environment and representing local business interests over the next five years.

The renewal of Cathedral Quarter BID will begin on the 1 March 2023.

Businesses with a rateable value of £2,000 or more will be asked to contribute to the £1.4m-plus fund.

BID chair Martin Langsdale said: “This is fantastic news for Cathedral Quarter 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 address 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.”

He added: “The money will now be spent through the three key strategic objectives and their related activities.”