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26/06/2012
Business Improvement Districts Can Boost Local Economy - McCausland
Social Development Minister Nelson McCausland has said the proposed Business Improvement Districts give a flexibility which can provide a local economic boost.
The Minister was speaking in the Assembly where he introduced legislation to allow for the creation of statutory Business Improvement Districts (BIDs) in Northern Ireland.
A Business Improvement District is a defined local area where, in partnership with the local council, businesses agree to pay a levy in order to fund services that will benefit the trading environment within that area. This gives local businesses the power to effect changes that will benefit them uniquely. Improvements may include additional safety / security, street cleaning, environmental initiatives or marketing events, among others.
Nelson McCausland said: "BIDs serve to bring businesses together and give them a vested interest in identifying, costing and delivering the improvements that they agree are needed in their local area with a view to increasing footfall and thereby consumer spending in their businesses."
Businesses will be able to prioritise the work that needs to be done to make their area more appealing, to put together a costed plan for this work and to vote on whether it should be implemented. These services are in addition to what is already provided from the public purse and are not a replacement for central or local government services.
The BID levy is separate from district or local rates, and so payment of a BID levy, if approved by a vote, does not attract a reduction in the rates bill. However, the intention behind a BID is that the economic benefits to the local traders will over time outweigh the cost of the levy.
Mr McCausland added: "All towns and cities in Northern Ireland can benefit from the BIDs legislation if they wish to do so. The legislation will be flexible enough to allow local discretion and for the development of local solutions. The onus is, however, completely on local businesses along with their local council to decide if a BID is something they would wish to take forward."
The Primary legislation will be followed next year by the necessary secondary legislation and guidance from the Department which will provide more detail on the setting up of a Business Improvement District.
(CD/GK)
The Minister was speaking in the Assembly where he introduced legislation to allow for the creation of statutory Business Improvement Districts (BIDs) in Northern Ireland.
A Business Improvement District is a defined local area where, in partnership with the local council, businesses agree to pay a levy in order to fund services that will benefit the trading environment within that area. This gives local businesses the power to effect changes that will benefit them uniquely. Improvements may include additional safety / security, street cleaning, environmental initiatives or marketing events, among others.
Nelson McCausland said: "BIDs serve to bring businesses together and give them a vested interest in identifying, costing and delivering the improvements that they agree are needed in their local area with a view to increasing footfall and thereby consumer spending in their businesses."
Businesses will be able to prioritise the work that needs to be done to make their area more appealing, to put together a costed plan for this work and to vote on whether it should be implemented. These services are in addition to what is already provided from the public purse and are not a replacement for central or local government services.
The BID levy is separate from district or local rates, and so payment of a BID levy, if approved by a vote, does not attract a reduction in the rates bill. However, the intention behind a BID is that the economic benefits to the local traders will over time outweigh the cost of the levy.
Mr McCausland added: "All towns and cities in Northern Ireland can benefit from the BIDs legislation if they wish to do so. The legislation will be flexible enough to allow local discretion and for the development of local solutions. The onus is, however, completely on local businesses along with their local council to decide if a BID is something they would wish to take forward."
The Primary legislation will be followed next year by the necessary secondary legislation and guidance from the Department which will provide more detail on the setting up of a Business Improvement District.
(CD/GK)
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