Love Newmarket Business Improvement District wins ballot as its boss hails 'fantastic result'
Newmarket’s business improvement district will serve another five years after it won the backing of traders in the town.
Love Newmarket Business Improvement District (BID) won the backing of 63.9 per cent of businesses within its town centre area.
Paul Brown, manager of the Love Newmarket BID, said: “It is a fantastic result and we look forward to working hard on delivering the new business plan over the next five years.”
And Cllr Michael Jeffreys, the Mayor of Newmarket, said he was ‘delighted’ with the result and looked forward to continuing to work closely with the organisation.
“We have some really good plans to enliven our town centre to compensate for this dismal year,” he said
The vote, which had a turnout of 41.2 per cent, means the BID will now be running until 2026.
As part of the five point plan, the levy businesses will pay over the next two years will be cut by 10 per cent, and then for the following three years will rise back up to 2019/20 rates.
Some 300 businesses are part of the BID area, and the organisation said its second term would see it help support businesses, restart events, invest in the High Street, help with the marketing of members and boost security.
Other parts of its proposals include a promise to support future businesses, with lobbying for business rate reforms, commercial rent level changes and car parking charges high on its agenda.
Love Newmarket has also said it wanted to improve the local environment by working with the town and district council to make the centre more attractive and welcoming.
Part of this will be to spend £44,000 over the first two years to fund new digital signage, which the BID said would give shoppers and visitors better help in navigating the town
and members additional advertising opportunities.