City Centre businesses in Plymouth say ‘yes’ to major investment

Businesses in the City Centre Business Improvement District (BID) have voted ‘yes’ to a five year business plan that will see millions of pounds being invested into the future of Plymouth’s shopping district.

70 percent of businesses agreed to the new city centre BID which will see many projects take place including; strengthening PARC (Partnership Against Retail Crime), improving signature events including Flavour Fest and Christmas Lights Switch On, the development of the new coach hub in the Mayflower West car park, plans to renovate Plymouth City Market and the new Drake Circus Leisure complex.

Doug Fletcher, Chair of Plymouth City Centre Company, said: “I am absolutely thrilled to announce the good news today that the BID will remain to work hard for its businesses for the next five years. It comes at a time when investment, marketing and events coming into the city are reaching an all-time high so it’s vital to have a representative company advocating our local businesses.

“This is an exciting time for Plymouth, with much change afoot, and by working with our businesses, the local authority and our partners we will grasp every opportunity and really raise the bar of the City Centre.”

The BID will raise £8.6 million over the next five years which will be used for projects to support businesses and provide a cleaner and safer city centre. Investment will also be used as part of a shop front improvement programme, marketing the city and providing a series of events to draw in the crowds.

Plans to change the Governance of the BID will be actioned now, with the introduction of an elected Operation Board, creating a two tier Board structure. These changes will enable the main Strategic Board to focus on discussions over the all-important rejuvenation and modernisation of the city centre with the City Council and inward investors. It will also enhance and strengthen the ownership of the City Centre Company and give BID members a more direct voice on the quality of the service delivery.

Stefan Krause, City Centre Manager, said: “This quite literally is the best news I have had all year. We have worked hard over the past few months to campaign for the BID, and it won’t stop there. We have already started to get the ball rolling on our promises – it’s going to be a busy five years.”

Plymouth City Council's Cabinet Member for Finance, and Plymouth City Centre Company Board Member, Mark Lowry, said: “We are absolutely delighted. This is great news not just for the city centre – but for Plymouth as a whole.

“We already have the biggest and one of the diverse shopping places in the UK. We can now continue to move onwards and upwards, bringing in more business and visitors into the city centre.

“So much been achieved over the last ten years, thanks to the business improvement district and there is so much more to come.

“When it started we barely had a string of lights for Christmas, now look at the spectacle we put on and the amazing events the team puts on across the entire year that brings people in their thousands into the city centre.

This is brilliant news and a ringing endorsement that working together with retailers in the city centre brings results.

“We look forward to rolling out some of the exciting ideas in our action plan.”