Council set to back Stourbridge BID
Proposals to create a Business Improvement District (BID) in Stourbridge are set to be backed by Dudley Council’s cabinet next week.
BIDs are business-led partnerships, created following a ballot, to deliver additional services to local businesses over a defined period, normally five years.
The proposed BID would involve local businesses paying a small percentage of their rateable value to a BID company, which will be used to promote Stourbridge and develop its reputation as an attractive, vibrant, historical, market town.
Its objectives would be to promote, showcase and raise the profile of the town centre, create a welcoming, safe and attractive Stourbridge and provide support to its businesses
A ballot is soon to get underway with the town’s businesses and at next Wednesday’s cabinet meeting, members are recommended to endorse the BID’s proposal and business plan, launched earlier this month, and support the ballot.
If the ballot is successful, the levy will raise approximately £835,000 over the BID’s five-year term, and help to lever in additional funding, where possible, to invest in the delivery of projects.
Councillor Paul Bradley, deputy leader and cabinet member for communities, climate change and economic delivery, said:
“When cabinet meets, I will ask colleagues to support the development of the Stourbridge BID.
“This will give businesses the chance to work together and directly influence positive improvements to boost trade, jobs and footfall in the town.
“If the ballot is successful, this will be an exciting opportunity for the town and its businesses.”