THANK YOU FOR VOTING ‘YES’ TO THE JEWELLERY QUARTER BUSINESS IMPROVEMENT DISTRICT!
The Jewellery Quarter’s business community gave a firm thumbs up to the proposals for its own Business Improvement District (BID) today (Friday), after a large number of people voted in favour of the initiative.
The BID received an encouraging 45% turnout of voters, with 80% of those businesses voting ‘yes’. It is estimated that the BID levy will bring in an estimated £2million over its five-year lifespan and could be expected to lever in a similar amount from other resources.
David said: “This is a very positive day for businesses in the Quarter. With the establishment of the BID, we will now be able to deliver a whole range of enhancements to the area that will improve the experience of those who work and visit here and also unlock the Jewellery Quarter’s ability to attract more investment, employment and visitors.
“The resounding result in favour also demonstrates that businesses understand the real difference that a BID can make to an area.”
Mike Henrick, chairman of the Jewellery Quarter Marketing Initiative (JQMI), said: “This is great news for the Quarter. The BID will not only attract investment but will also enable us to effectively market this unique area and increase the footfall, which is so vital to the area’s economy.”
Andrew Cox, director of property at Mitchells & Butlers, said: “With our headquarters in the Quarter we are keen supporters of the BID and believe it will strengthen the voice of all businesses in area. We expect the BID will benefit the wider restaurant and bar sector as well as benefiting members of our staff who live locally.”
Jilly Cosgrove, managing director of Barques, said: “All the money raised from the levy will be put back into the Quarter to ensure it is cleaner, greener and safer for everyone – making it an appealing place to visit, work and live.”
Michael Allchin, chief executive of Birmingham’s Assay Office, said: ““The Assay Office has been at the heart of the Jewellery Quarter for 240 years and are strong supporters of the BID. We believe it will help to attract new investment to re-energise the Quarter while retaining its unique heritage and world-class specialist skills. The 80% vote in favour is immensely encouraging and marks the beginning of a very positive new era for the Jewellery Quarter.”
The Jewellery Quarter BID, which officially begins life in October 2012, will now be governed by business levy payers and supported by a full time BID manager, who will be appointed shortly.
The BID will help to improve the Quarter in many ways, including providing a welcoming environment for visitors, clean and safer streets, improving marketing to increase footfall and inward investment, and improving connectivity to the city centre.
What’s happening now?
Details on what’s next for the BID will be available shortly.