Businesses vote in favour of £5m investment in Liverpool City Centre

Liverpool city centre will get an investment of £5m after its businesses voted Yes in a ballot for the Retail & Leisure BID Area.

The investment will be spent on animation and marketing, street cleaning and maintenance of the public realm alongside networking and business events. It is the fifth term of the Retail & Leisure BID, seeing it run until summer 2028. The BID Area stretched from Lord Street to Bold Street, Renshaw Street, Williamson Square and the Cavern Quarter. It will now extend to Hope Street.

Liverpool BID Company operates three BID Areas in Liverpool city centre; Retail & Leisure which covers the city’s shopping, leisure and hospitality heart; Culture & Commerce, taking in the city’s famous waterfront and reaching up to William Brown Street and Lime Street; the Accommodation BID, the first operating in the UK, which is exclusively for the city’s hotels and serviced accommodation providers.

Liverpool BID is a not for profit, funded by an annual levy paid by those businesses which are eligible in designated areas of the city centre. Established in 2005, there are over 1,000 businesses in the city centre part of Liverpool BID Areas.

The funds are also used for events and animation in BID Areas designed to tell the story of particular neighbourhoods, to attract visitors and to help businesses to thrive. Liverpool BID also provides data services to help businesses understand how the city centre is performing.

The budget will see £850k spent in Year 1 and £900K + inYear 2, Year 3, Year 4 and with £1m+ Year 5. Alongside its regular role of working with city partners on safety, security, street cleansing, networking, connectivity and more, Liverpool BID has a series of proposals for the next five years.

Bill Addy is CEO of Liverpool BID Company “We are delighted to be able to mark such an important year for Liverpool, and celebrate two decades of the establishment of the city’s first BID, with such a vote of confidence. Liverpool was one of the first cities in the UK to establish a BID and it fully reflects the approach of the city’s business community to commit to the city’s future.

“The levy from our businesses is an investment that goes towards making Liverpool a place to thrive, for those living, working and visiting the city. It is about working with our city partners to constantly improve and enhance the public realm, make the city more attractive, safer and easier to get around.

Without the BID, Liverpool city centre would be a very different place. As well as events and public realm investment and management, we lobby on behalf of our city centre businesses. To be a destination for visitors and investors, Liverpool has to be a place that works for everyone.

“Our rich mixed economy, in culture, retail, leisure, hospitality and commerce helps us to be a city that is growing in both confidence and prominence. We always want to ensure that, as a city, we do our best for business as well as for visitors. We look forward to the challenge of the next five years in Retail & Leisure”.

By Mark Adair – Correspondent, Bdaily