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Making a BID for town centre

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A plan for businesses in Luton town centre to join together to improve the area is moving forward.

At a get together at Venue Central on Wednesday, representatives from the daytime and nighttime economies in the town got the chance to discuss plans for the BID (Business Improvement District).

If successful it will give businesses a real say on what improvements are carried out in the town.

Mark Broadhead, chairman of the Town Team, said 135 locations, including Hitchen, now have BID’s in place and that Luton is missing out by not having one.

“A BID is a great way on ensuring that the businesses have a direct influence over the future of Luton town centre,” he said. “Everyone knows the challenges we face but together we can make a real difference.”

He also urged more businesses to join the Town Team to help shape a business plan.

Businesses within the development area will get the chance to vote to move the BID forward, later in the year.

Money is levied through the business rates alongside council funding which is ring fenced for use in the town centre.

A successful BID can also be used as leverage to attract outside investment for use in the centre, and companies can work together to bulk purchase goods and services.

A report to the Town team identified a potential for a BID to generate around £400,000 a year for new ideas and initiatives in the town.

To find out more about the BID, go to www.lutonbid.org

 

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