Businesses have voted in favour of a scheme which is set to create thousands of pounds worth of investment for a Dudley borough town centre.
The Halesowen Chamber of Trade has been instrumental in proposing and creating the Halesowen BID, which is set to launch later this summer (August 1) after businesses voted in support of the scheme earlier this month.
The BIDs mission for the town is to create a stronger image, a brighter place, a thriving business hub and to act as a magnet for visitors.
Each local business will be asked to pay a levy, a small percentage relative to the business’s rateable value, which will be ring-fenced and invested in projects agreed by the BID for the benefit of trade in the area.
It will also be used to support local community projects, which could include town centre events as well as improving the environment and security.
Councillor Ian Kettle, cabinet member for regeneration and economic development, said:
“The national picture tells us that BIDs have proved extremely successful elsewhere in improving opportunities for businesses and the local community.
“We are therefore really pleased to see the first BID being set up in the borough with traders throwing their support behind the scheme.
“This additional investment can only bring positive outcomes for the town, a prospect which is incredibly exciting and I fully support.”
Chairman of the Halesowen BID, Wayne Edwards, said:
“This is a huge opportunity for Halesowen. The BID will become a valuable resource for the wide variety of businesses across the region.
“We’re extremely excited to begin our work in making key improvements to the lives of our traders and business owners across Halesowen.
“We’re now asking for all the businesses in Halesowen to communicate to us the main issues they face day to day so we can make efforts to assist.”
It is anticipated the BID will raise more than £120,000 each year.