Truro City Centre businesses have voted in favour of their Business Improvement District (BID) for a fourth term, that will see more than £1.6 million invested on projects and services over a five-year period.
Of those businesses who voted in the postal ballot, 85% voted yes to renewing Truro BID. As well as the ‘yes’ vote, Truro BID met the second test achieving 87% of the total rateable value of all the votes cast.
The ballot results were higher than in the third term, demonstrating that Truro BID has, in-spite of the challenges due to the pandemic, continued to deliver a wide variety of projects and services to support the city and increase footfall.
Truro BID is responsible for installing and funding the annual City Centre Christmas Lights and delivering many of Truro’s Christmas events and activities, as well as the popular Children’s Day event. The not-for-profit organisation also helps to enhance the shopping environment by installing and funding the colourful summer bunting, organising “City Clean Up” events and co-funding the city’s annual floral hanging baskets which are delivered by Truro City Council.
Truro BID, which was the first BID established in Cornwall in 2007, will now run until October 2027. The new term will begin on 1st October 2022 and will generate around £322k per year to deliver Truro BID’s new business plan. After a consultation period BID businesses since December 2021, the projects and services to be delivered have been prioritised by the businesses in the town in a five-year business plan.
Kristian Fleming, chair of Truro BID and owner of Truro business Inhabit, said: “The yes vote is fantastic news for Truro and I’m thrilled that the business community have shown their support for the BID with a such a strong mandate. We will now be able to implement projects and services across the themes of safety, security, marketing, events and business support outlined in our new five-year business plan, which will benefit businesses, local people, visitors and ultimately Truro.”
Further information, including the new Business Plan can be found at www.trurobid.co.uk