Businesses in the heart of Huddersfield could be asked to pay a levy – on top of their current business rates – to help boost the town’s economic prospects.
Huddersfield Partnership wants firms in and around the town centre to support its drive for Business Improvement District (BID) status.
BID is part of the Government’s strategy to encourage local authorities and the business community to work together to improve their areas.
Under the scheme, rate-paying businesses vote to decide on new improvements to help shape the future of their area – and agree the level of investment needed. This money – a levy on the businesses above and beyond the rates they pay – is then ring-fenced to provide the improvements agreed through the BID strategy.
Typically, the levy is set at between 1% and 2% of the rateable value of businesses’ premises. A 1% levy could generate about £400,000 a year to spend on improvements businesses vote for.
Towns and cities already operating BID schemes have seen improvements to footfall, business profitability and turnover which would not have happened otherwise. More than 600 BIDs are now operating across the UK, including ones in Halifax, Wakefield and Sheffield.
Huddersfield Partnership has commissioned Derby-based independent consultancy Partnership For Better Business (pfbb) to help test the level of support for a BID for Huddersfield and what is needed to make it a success.
It said: “The Huddersfield Partnership has long recognised that there is a serious lack of investment in the town and that work needs to be done to improve footfall and generate new opportunities. With around 20% of shops and premises lying empty in the town centre, due mainly to funding cuts at all levels, the Partnership recognised that major change is needed to address this decline."
John Hirst, director of Huddersfield Partnership, said: “Currently, Huddersfield Partnership and pfbb are visiting a number of businesses to complete surveys and explain the detail of the BID process. They are also asking for people who are willing to give a little time to help in shaping the BID in the future.
“Once the feasibility study has been completed and analysed, the partnership and pfbb will be presenting the results to all – with a view to taking it to the next stage, which will be to develop and define the vision and the objectives for the five years of the BID project.”
Mr Hirst said the BID process would be explained at an open seminar to be held at 5.30pm on Monday, September 18, at the University of Huddersfield. “Any business owner or manager and interested party with a passion for improving our town and interested in taking time to complete a survey or who wishes to learn more is invited,” he said.
Mr Hirst said many national businesses, including Boots, Marks & Spencer, Sainsbury’s and H&M were investing in BIDs elsewhere in the country and were very in interested in supporting one for Huddersfield.
