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Business improvement district (BID)

Businesses have voted 'yes' and given their resolute backing to making the town centre a Business Improvement District (BID).

The Stockport BID will unlock almost £2.5m of additional funding over a five-year-period to be spent on improving the town centre and encouraging more people to visit it.

A total of 193 businesses took part in the ballot. Of those votes, 125 were in favour, representing 64.7% majority by number.

Stockport Town Centre BID becomes the 252nd BID to be approved in the UK.

Next steps

From 1 April 2017, funds will be available to spend on projects that the businesses themselves have indicated as priorities, bringing vitality and viability to the centre.

Now that the town's businesses have shown their support for the scheme it is hoped that further funding can be secured through additional contributions.

Businesses on the outskirts of the town, or indeed those within the town under the £10,000 threshold, who will benefit from a more vibrant, successful town centre are invited to contribute £100 to enable more to be achieved.

One of the next steps for the Stockport Town Centre BID is to establish an initial interim Board of Directors to start overseeing the delivery of the BID programme. Then it is to ensure that funds are invested responsibly in areas that will make the maximum impact and work towards a special general meeting (SGM) to create a board that will take things forward.

To find out more about the Stockport Town Centre BID visit www.totallystockport.co.uk.

The Stockport Town Centre BID Ballot was carried out by independent electoral services provider UK Engage.