The Bangor Business Improvement District (BID) will officially launch a new ‘Bangor Branding’ and website tonight.
The three partner organisations Bangor BID, Bangor City Council and Bangor University will give a presentation and then ‘View Creative Agency’ will give guidelines of the best ways to use the new branding, followed by an overview of the new Bangor BID website.
A Business Improvement District is a geographical area where local businesses have voted to invest collectively to improve their trading neighbourhood. BIDs provide additional or improved services as identified and requested by local businesses.
BIDs can only be created if voted in by the businesses that would be part of it. Once established, BIDs have a mandate to run for five years, after which businesses vote again on whether it should continue for another five years.
Bangor businesses voted in favour of the Bangor BID in September 2015, 42% of eligible businesses voted and 68% voted in favour of the BID, which was officially launched in April 2016.
Businesses in Bangor pay a levy to BID, approximately 1.5% of their rateable value, this is then used to invest in events, maintenance and to approve the appearance of the BID area.
There are over 300 businesses in Bangor and BID is expected to raise over £600,00 over five years, which will then be invested to improve the city.
There are now over 180 ‘BIDs’ across the UK – in town centres, industrial estates, business parks and other zones where businesses have recognised the benefits a BID can bring.
The launch is open to everyone, including members of the public, and will be held at PL2 in Pontio at 6.00pm this evening, 11th October 2017.