Falmouth businesses have overwhelmingly voted ‘yes’ to a third five-year term as a Business Improvement District (BID).
Following a turnout of 63%, which is 14% higher than the national average and one of the largest in the UK this year, the Falmouth BID has been strongly voted back in by town businesses and organisations.
Over 250 businesses took part in the ballot; 87% were in favour by number and 88% by rateable value.
The new five-year term will follow on from the current term and begin on April 1. Around £160K each year will be spent on delivering projects and services to support Falmouth as prioritised by the businesses and outlined in Falmouth’s BID business plan.
On top of this income from businesses, the BID team has secured additional contributions from other organisations, as well as external funding, all of which will be allocated to town projects.
Richard Thomas of RTP Surveyors and chair of the Falmouth BID said: “The yes vote is fantastic news for Falmouth and it’s great that businesses have recognised the worth of the BID in delivering vital town schemes.
“The voting result makes it one of the most successful BIDs in the country. In a challenging economic climate, we will continue to drive forward a programme of quality projects in partnership with our business community.”