‘Strong result’ for Newcastle’s NE1 Ltd as majority back BID company for third term
Newcastle firms have backed NE1 Ltd for a third term as the city’s business improvement district company.
All 1,400 of NE1’s businesses were balloted and a record 904 voted, with 88% supporting NE1 Ltd for another five-year stint.
The result makes NE1 the most strongly supported BID in the UK and will unlock in the region of £10m of investment from the city’s businesses during the next five years, the organisation said.
Cash raised will be ploughed into projects considered crucial to the city’s future economic growth, including Alive after Five, the Bigg Market Regeneration Project, NE1 Street Rangers and a raft of city centre events.
NE1’s priorities for its next term, based on consultations with business members, include a renewed focus and further investment in key areas of the city centre, including Newcastle’s retail core and the Quayside.
The organisation will also work to make ‘greening’ an important part of all physical projects, creating a better environment for NE1 businesses and customers; improve connectivity from both a digital and transport perspective; and continue to raise Newcastle’s profile on a regional, national and international level.
The new term will run from April 1 2019 until March 31 2024.
NE1 Ltd chief cxec Adrian Waddell said: “The result today is a vote for making things happen in Newcastle. It’s also an endorsement of the effectiveness of the ‘team’ approach that’s invariably needed to get bigger projects underway.
“Our city’s businesses, universities and college, local authority and hospital all have roles to play and we’re really looking forward to our ongoing work with them over the next five years.”
He continued: “Our task now is to return with interest the trust and confidence businesses have shown in us.
“We’ve a brilliant team at NE1 – experienced, very conscientious and who live and breathe Newcastle. We’re all really looking forward to the challenges and opportunities this new term will bring.”
Newcastle City Council Leader Cllr Nick Forbes hailed NE1 as a“much valued delivery partner“ for the authority’s “ambitious plans for the city”, adding: “This strong result recognises the significant achievements to date and highlights businesses’ confidence in the future of the city.”