BID LEAMINGTON

Legally binding it will provide practical services to ensure a well promoted, vibrant and accessible environment. A business led and controlled partnership in a given area such as the Town Centre which delivers an agreed set of services / projects. These were agreed and formally voted on by all businesses and deliver projects/services that are additional to what the public agencies provide. Lasting for five years, the bottom line being that it improves your trading environment and the public realm. BIDs can deliver any projects or services that are agreed by the relevant businesses. In Leamington they are marketing & promotion activities, better way finding and more events.

The actual projects and services were determined as a result of detailed consultation with all the business in the BID area. BIDs is a mechanism which allows the public and private sector to work together on projects aimed at providing an area with a strengthened economic outlook, ultimately increasing trade for those businesses that are paying for the improvements. BID support long term sustainability of Town Centre and enable them to approach the management of the trading environment / public space in a much more proactive and planned way. Leamington Spa operates in an increasingly competitive market place. The town has many unique selling points (USP's) but research suggests that if it is to maintain its position it needs to bring businesses together in order to promote those USP's to a much wider customer base than it is currently able to do.

A BID can be proposed by any business ratepayer, property owner, local authority or other key stakeholder with an interest in the BID Area. In Leamington Town Centre it was lead by a BID Working Party which was made up of 12 private sector and 3 public sector representatives. It was responsible for proposing and preparing the BID on behalf of local businesses but not until a detailed consultation process had been conducted.