Newham businesses have voted overwhelmingly in favour of a third term as a Business Improvement District (BID) in a record-breaking ballot.
One hundred per cent of all the firms and organisations in Truro’s industrial quarter that took part in the month-long postal ballot voted ‘yes’ – making BID history.
As well as the yes vote, Newham BID met the second test of achieving 100% of the total rateable value of all the votes cast.
It is understood that no other BID in the UK has scored so highly on both tests before, according to data held by British BIDs.
It means that at least £428k will now be invested in projects and services on the industrial estate to help improve and raise the profile of this thriving part of Truro.
Newham BID has been overseeing the area since 2013 when businesses first voted to invest collectively in the scheme.
Securing another five-year term will allow the BID to continue to deliver a range of projects and services, including maintaining the safety and security on the estate, as well as making sure the area remains an accessible, clean, tidy and attractive place to work and invest.
The team at Newham BID set out its aims and objectives for the site in a detailed document released in June.
Following publication of the 26-page plan, it was up to business owners and staff working across Newham’s diverse range of organisations to vote on whether they wanted the BID to continue for a third term.
Newham BID’s chair, Leigh Ibbotson, owner of property management group Cher Varya in Heron Way, said such solid backing would help to strengthen this already close-knit industrial site.
He said: “It’s an incredible result from the ballot and we couldn’t be more pleased to know that so many of Newham’s businesses and organisations have given us the chance to improve what we have here.
“Only by working together through the BID will we be able to build on what we have done so far and create more shared successes.
“We want to thank all of those who have supported us and contributed their time, funds and expertise to making Newham a better place to trade.”
The new five-year term will begin on September 1.
