City centre businesses support £6m investment plan

The business improvement district (BID) around Colmore Row has secure a third term after being overwhelmingly supported in a ballot.

96% of businesses that voted supported the continuation of the scheme, which sees companies with a rateable value of £10,000 or more contribute through a levy.

The 1.5% BID levy will generate more than £1m annual investment that will be spent on business-led activities that are additional to council services.

Colmore BID will cover a larger footprint when its third term begins on April 1, 2019, as it will now include the Paradise development.

Colmore BID executive director, Michele Wilby, said: “A third term will see over £6m being invested over five years into Birmingham city centre.

“A third term allows us to continue to deliver on our transformational public realm programme around Snow Hill station and the surrounding areas and we will bolster our on-street presence to provide more support to businesses and partners in relation to security and street scene issues.”

There are nearly 500 businesses eligible to vote, and the turnout of 64% was the highest turnout for a BID renewal ballot in the country for 2018.