Bangor Business Improvement District (BID) – Bangor First – has been re-elected in a ballot of local businesses, with 58% of businesses voting for the BID.

 

 

Bangor BID was established in 2016 with the aim of being a partnership between the local business community and local authority to develop projects and services that will benefit the trading environment within the boundary of a commercial area.

Now rebranded as Bangor First, the new business improvement district will also include upper Bangor and they will invest over £740,000 in Bangor over the next five years, with the promise of making Bangor ‘greener, cleaner and safer’.

Business Improvement Districts (BIDs) aim to improve their trading neighbourhood by providing additional or improved services as identified and requested by local businesses.

BIDs are funded by a levy to businesses which is additional to the non-domestic rates. The additional funding raised is used in the specified area to improve the public realm, promote business and make the area more profitable for business.

Businesses in Bangor pay a compulsory levy to BID, approximately 1-2% of their rateable value, this is then used to invest in events, maintenance and to approve the appearance of the BID area.

For business with a rateable value of £20,000, the levy fee would be around £300 a year. With the inclusion of upper Bangor Bid hoped to raise and reinvest over £740,000 in the city over the next five years.

Welsh Government, Gwynedd Council and Bangor City Council all supported the Business District in Bangor with Welsh Government stating that towns with a BID will be ‘looked at more favourably’ when distributing additional improvement grants.

The organisation has published its five year plan online, which is divided into four main themes; Safety and security, Culture and promotion, Business services and Greening. The overarching aim of the organisation is to support regeneration efforts and attract funding to Bangor, and build the area’s profile to encourage visitors and local customers.

Pamela Poynton, Chair of Bangor First said: “We would like to thank Bangor businesses for their continuing support, especially under the challenging circumstances of the past year. We believe there is much more work to be done to bring our vibrant and unique city to its full potential, and that this aim will be best achieved in collaboration, with city stakeholders and businesses working together in partnership with the community.”

The Mayor of Bangor, Cllr John Wyn Williams said: “We welcome the news that the Bangor Business Improvement District (BID) Ballot is successful. This means an investment of over £740,000 in Bangor over the next five years. Bangor City Council will be working closely with Bangor First and other partners to ensure that the next BID term benefits Bangor businesses and residents, and that the BID helps the development of the city as a good place to live, work and invest in.”

To read Bangor First’s vision for Bangor visit: http://bangorfirst.co.uk/