Leeds businesses vote YES
27 Feb 2015
Businesses have voted a resounding YES to a City Centre Improvement District (BID). The ballot result, which was announced at lunchtime on Friday 27th February was: 84% of votes in favour of the proposed BID by number of votes, and 86% by rateable value.
The BID will raise around £10 million over five years (circa.£2 million a year) additional investment to improve and promote Leeds City Centre and will be the UK’s largest BID by value outside central London.
Once established in April 2015, the BID will run for five years and provide an additional boost to Leeds City Centre’s role as an economic powerhouse.Leeds City Council executive member for transport and the economy Councillor Richard Lewis said: “We are delighted that businesses have voted to support this idea, which will generate £2million a year of direct investment to further aid the development of the city centre and strengthen the Leeds economy as a whole. This is a great example of public and private sector elements coming together to make a difference and we look forward to the BID starting in April and making Leeds city centre an even more attractive and vibrant place to be.”