The Truro Business Improvement District (BID) was renewed following overwhelming support from businesses in Truro who voted ‘yes’ by a majority to continue contributing additional funds to improve the city’s trading environment.
The votes in the formal ballot were counted on Thursday 12 July and businesses in Truro had voted ‘yes’ to continue with the Truro BID, unlocking more than £1,500.000 of additional funding over the next five years.
A total of 252 businesses took part in the ballot, 59% of the 428 businesses eligible to vote. Of those voters, 165 were in favour, representing a 65.5% majority by number and 59.6% by rateable value. Truro becomes the 44th BID in the UK to successfully renew and was the first location to develop a BID in Cornwall – there are now four BIDs in Cornwall with others under development.
Neil Scott, BID Manager at Totally Truro said,
“Today marks an important and exciting new chapter for Truro – I would like to thank our business community for its continued support and investment in our great city. The ongoing success of the BID programme will rely on all businesses working together, sharing their expertise and enthusiasm to maintain and develop Truro’s status as the top retail, leisure and employment centre in Cornwall.”
The result was delivered today (Friday 13 July), after months of work by members of the Totally Truro, the not-for-profit company that is delivering the current BID , which has seen in-depth consultation with businesses in Truro to help prioritise the issues and activities that local businesses want to see addressed.