Investment boost for Birmingham's professional quarter
Mar 2 2009 by Alun Thorne, Birmingham Post
The heart of Birmingham’s professional quarter is set for millions of pounds of investment in the coming years after local businesses agreed to a new improvement levy.
Businesses in the area surrounding Colmore Row have been casting their vote over the past six weeks on proposals to establish the city’s third Business Improvement District (BID) which would see each local company obliged to contribute one per cent of its rateable value towards a range of initiatives.
More than 500 businesses employing 24,000 people were eligible to vote with the Electoral Reform Services announcing that 87.3 per cent of all those who voted were in favour of the BID progressing. For the BID to be successful a majority by rateable value was also required and this was achieved with 90.1 per cent of the total value of those who voted.
The one per cent levy – which will be collected by Birmingham City Council – will fund the appointment of a full time BID manager who will be tasked with delivering a number of pledges including the promotion of a clear identity and profile for the area, delivering a high quality “streetscape”, enhancing the general environment including additional cleaning and maintenance and making the area more welcoming and safer with the recruitment of five dedicated wardens.
The BID – which is sponsored by Birmingham Forward, Birmingham Future and the Birmingham City Centre Partnership – will now be formed into an independent company, Colmore Business District Ltd, and will commence on April 1 this year.
Gary Cardin, Head of Drivers Jonas’ Birmingham office and the BID Champion, said: “This is a very positive day for businesses situated within the Colmore Business District. 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.
“I believe today’s resounding result in favour also demonstrates that business understands the real difference that a BID can make to an area. We are all experiencing an extremely challenging economic climate where each and every item of discretionary expenditure is being closely monitored. The Colmore Business District will now be able to demonstrate that Birmingham has a visible and vibrant business centre with a clear identity, is fully accessible and very welcoming.”
Leader of Birmingham City Council, Councillor Mike Whitby, said: “I have been a passionate advocate and supporter of the Colmore Business District and I am delighted that today’s vote will make the BID a reality. This is the centre of commerce in our city, a very important, historic and high profile part of Birmingham. The added investment that will now be made from the funds generated by the BID will significantly contribute to ensuring Birmingham is recognised as a truly global centre for business”.
Jonathan Cheetham, Chair of the Birmingham City Centre Partnership, added: “The Partnership is proud to have promoted the development of all three BIDs in Birmingham City Centre. Over their five year terms, the Colmore Business District, together with Broad Street and Retail Birmingham will bring in over £10 million of additional private sector investment in the city centre.”
