Businesses in Morecambe have voted “yes” to a Business Improvement District (BID) in the town.
Out of 117 businesses that turned out, 95 voted in favour, giving an “overwhelming mandate” of 81.19 per cent.
The total rateable value of businesses that turned out was £2,239,950, of which £1,871,150 was in favour.
John O’Neill, manager of North Lancashire Chamber, said: “It’s a great result and a clear overwhelming mandate that people want to see things happening in Morecambe from a business point of view.
“It’s been a hard slog, but very much worth it, and the real work starts now.”
A BID is a business led and business funded body formed to improve a defined area.
Each business within the given zone pays 1.5 per cent of their rateable value into a funding pot once a year.
For a business with a rateable value of £8,000, this would amount to £120 a year or £2.31 a week.
In Morecambe, the BID would create a funding pot of approx £130,000 per year (excluding extra or match funding from other sources). Businesses then get to decide how this money is spent to improve their town. This would involve ongoing consultation with Morecambe’s businesses to ensure your needs are being met, in ways that you want to see.
Mr O’Neill added: “The BID will come into effect in October, and in the meantime we’ll be setting up a company and arranging a committee.
“We would encourage everyone to come forward and get involved in whatever way they can.
“We’ll be calling a public meeting within a month or two.
“Any thing the BID can do for Morecambe, is great and it gives people control of their own destiny.”
For more information visit www.morecambebid.com.