Newham Business Improvement District (BID) is looking forward to getting started on a series of projects after securing a third term
Monday 24th July, 2023
The Newham Business Improvement District (BID) team is looking forward to getting started on a series of projects across the site after securing a third term.
Businesses in the area recently voted overwhelmingly in favour of staying as a BID.
One hundred per cent of all the firms and organisations in the city’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 per cent 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 £428,000 can now be invested in projects and services on the industrial estate to help improve and raise the profile of this thriving part of Truro.
The new five-year term will begin on September 1st. The BID will then deliver the projects outlined in the business plan, including supporting businesses through networking, training and lobbying and promoting firms through Newham’s news articles and social media channels. All of this will be done on top of the day-to-day job of maintaining the safety, security and general look and feel of the estate through landscaping works.
Newham BID manager Mel Richardson said: “We’re delighted to have such strong support for a third term. We can now get on with the job of working with businesses and organisations to make Newham a great place to trade and invest in.”