A Business Improvement District (BID) is a business-led and business-funded body formed to improve a defined commercial area. BIDs charge a levy to local businesses in return for providing services over and above the usual council provision.
The BID for Hemel will provide substantially more funding for improving and managing the town centre environment. It will also create a wider business community, engaging members and partners from all sectors.
Over the past 18 months, the BID Steering Group have consulted extensively with the Hemel Hempstead business community in its development and implementation.
A BID will deliver over £900,000 in funding to the area over the next five years, funded and led by businesses and managed by a dedicated BID Manager, based in the Marlowes, with success measured against a series of KPIs both annually and across the first five year term of the BID.
Not only is this an opportunity to improve Hemel Hempstead for businesses, residents, visitors and those who work in the town; it will also complement the extensive regeneration work already planned by Capital & Regional, owners of the Marlowes Shopping Centre, and Dacorum Borough Council.
Find out more about the Hemel Hempstead BID an exciting opportunity for the town centre business community of Hemel to take control of the direction in which our town centre will go over the next five years.
Published on: September 29, 2017