The event is the culmination of more than 12 months’ consultation with local businesses by Plymouth Waterfront Partnership (PWP) – and will kick start a month-long ballot when Waterfront businesses will vote on setting up a Waterfront Business Improvement District (BID).
As well as the first opportunity to see the finished Waterfront Business Plan, the event at the Holiday Inn is the final opportunity for businesses to meet with the entire PWP Board and fellow businesses to discuss the BID proposals in detail and get their questions answered.
The BID is designed to give businesses more control of their trading environment, improve profitability and raise the Waterfront’s profile as a regional and UK visitor destination. The Business Plan sets out how the BID will work and details a range of projects to be delivered, including regional / national marketing, improved signage, new events and environmental improvements.
David Wheeler, Chairman of Plymouth Waterfront Partnership, said: “This is an exciting time for the Waterfront which will have, for the first time in its history, a clear Business Plan designed by business owners to drive visitor numbers, improve the business trading environment and profitability.
“I hope as many businesses as possible will join us to celebrate the launch of a plan, which they have shaped at every step of the way over the last year, and to meet with the Board to discuss any remaining questions they have.”
Under a BID, businesses will be asked to make an annual contribution to help fund delivery of improvement projects - with a third of businesses contributing less than £100 a year and half between £100 and £500.
For every £1 contributed by Waterfront businesses a further £2 (£2.4 million in total) will be targeted in match-funding by PWP. On top of this Plymouth City Council has confirmed it will support the initiative by ring-fencing £2.7 million of funding for services on the Waterfront for the full five years of a BID and also contributing £673,000 in match funding to the BID.
Following the launch of the Business Plan, Waterfront businesses will receive BID Ballot papers by post for the confidential postal Ballot being run throughout February by the independent Electoral Reform Services. The deadline for Ballot papers to be returned to Electoral Reform Services will be 5pm on March 2.
Businesses are being invited to the launch of the Plymouth Waterfront BID Business Plan, on Wednesday January 25, at the Holiday Inn Hotel, Armada Way.
Two sessions are being hosted during the day: 2pm – 4pm and 6pm – 8pm.
Businesses wishing to attend are asked to contact Plymouth Waterfront Partnership in advance to confirm which session they are coming along to. Email: firstname.lastname@example.org or telephone 01752 305424.
Further information is available via the BID website: www.waterfrontbid.co.uk
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