Bournemouth Development Company makes voluntary contribution to BIDs

Posted: 28/03/2012 at 9:15am

The Bournemouth Development Company is among those to make voluntary contributions to support the creation of two Business Improvement Districts (BIDs) in Bournemouth.

The Daily Echo, Discover Dorset, Nationwide Building Society, Wilts and Dorset and Yellow Buses have also signed up to make voluntary contributions to the emerging new BIDs.

Core funding for a Business Improvement Districts (BIDs) comes from contributions paid by the eligible businesses within the BID area.  For the Coastal Districts BID this will bring in around £500,000 per year, and for the Town Centre BID £600,000.

Such is the power of a BID that it can attract a range of other voluntary contributions.  Based on the Business Plans, produced through consultation with the local business community, six businesses whose premises fall outside the area of the BIDs, or who are not tourism or retail related have decided they wish to support these initiatives.  They will all be making some form of voluntary contribution to show their support.  Together with other sponsorship and matched funding, the Steering Groups are predicting that the BIDs will attract 30% additional income on top of their core funding.

Toby Granville, Group Editor from the Echo, speaking on behalf of Vincent Boni, Managing Director of Newsquest South West said, “We have seen how BIDs in other areas bring the business community together and help to create a better trading environment.  We are keen to play our part by being a part of these new BIDs here inBournemouth.”

Toby Marden, of The Bournemouth Development Company, said: “As a public-private company established to regenerate the town centre, we share the BIDs ethos of enabling businesses to bring about and influence improvements. We will be investing heavily in Bournemouth over the next 20 years and are delighted to commit to the emerging BIDs.”

Tim Sanders from Discover Dorset, Andrew Smith from Yellow Buses and Andrew Wickham from Wilts and Dorset have all been part of the team helping to develop these BIDs.  They have seen first hand how the Business Plans will bring extra business to Bournemouth.

Andrew Wickham, Managing Director of Wilts & Dorset said: “We believe the BIDs will be good for Bournemouth and we are keen to play our part in supporting this initiative from the local business community”

Andrew Smith, Finance Director at Yellow Buses added, “Yellow Buses is passionate about Bournemouth and its future success.  We can see the BIDs being an integral part of this development.”

Tim Sanders from Discover Dorset, commented, “Having been involved in the development of the BIDs over the last year I have seen the huge potential which exists and we are keen to play our part in this.

A Nationwide Building Society spokesman said, “As one of the largest employers locally we believe that a thriving town centre is important and we are keen to support this local initiative.”