It has today been announced that businesses in Brecon have
voted against becoming a BID town.
The BID (business improvement district) would have seen £150,000 of private sector income invested into the town for each of the next five years, however the majority of businesses decided not to approve this additional investment.
It has today been announced that businesses in Brecon have voted against becoming a BID town.The BID (business improvement district) would have seen £150,000 of private sector income invested into the town for each of the next five years, however the majority of businesses decided not to approve this additional investment.
The results showed that, with a 30% turnout, just 44% voted in favour by number and 28% by aggregate rateable value.
Despite extensive consultations carried out throughout 2019 and a comprehensive business plan which set out the foundations for how this money was to be spent, the plan failed to sufficiently inspire the local business community.
Speaking on behalf of the BID steering group, local businessman Iain McIntosh said, “In my opinion, this is a very sad day for businesses in Brecon. We have lost an opportunity to invest significantly in our town and, more importantly, work together under the collective banner of a BID to get the best deal for our town. One thing many businesses in Brecon do agree on is that Brecon needs significant investment and improvements made to attract more businesses into our empty shops. Some of us behind the Brecon BID effort aren’t giving up, we’ll continue to try and bring all stakeholders together and find a way of improving our town.”
The BID development in Brecon was the latest in a tranche of new BID developments supported by funding from Welsh Government. Deputy Minister for Housing and Local Government, Hannah Blythyn, said “transforming towns across Wales and making them fit for the 21st century is a priority for the Welsh Government. BIDs play a significant role in regenerating areas by providing businesses with a collective single voice, supporting economic growth and strengthening communities. It is a real shame that the BID has not been supported in Brecon, as BIDS have a proven track record of driving local change and managing high streets and town centres.”