80% of JQ voters say yes to area’s BID proposal.
The Birmingham Jewellery Quarter is celebrating, having been given the thumbs ups for its proposal for a Business Improvement District (BID) in the town-centre area on Friday.
More than 600 local business were asked to vote in support of the initiative, which helps to provide additional services to a particular area, based on local companies paying a 2% annual levy towards a fund that will help benefit the locality.
The Birmingham JQ BID received a 45% turnout of voters, from the 600 business contacted, with 80% of those businesses voting yes.
It is estimated that the BID levy will bring in an estimated £2million over its five-year lifespan and could be expected to lever in a similar amount from other resources.
The Birmingham Jewellery Quarter BID was promoted by the Jewellery Quarter Development Trust (JQDT), in partnership with Birmingham City Council, and chaired by David Mahony, managing director of PCPT Architects in Spencer Street, Birmingham.
Mahony said: “This is a very positive day for businesses in the Quarter. With the establishment of the BID, we will now be able to deliver a whole range of enhancements to the area that will improve the experience of those who work and visit here and also unlock the Jewellery Quarter’s ability to attract more investment, employment and visitors.
“The resounding result in favour also demonstrates that businesses understand the real difference that a BID can make to an area.”
The Jewellery Quarter BID will officially begin in October 2012. It will now be governed by business levy payers and supported by a full time BID manager, who will be appointed shortly.
The BID will help to improve the Quarter in many ways, including providing a welcoming environment for visitors, clean and safer streets, improving marketing to increase footfall and inward investment, and improving connectivity to the city centre.