Newry BID Project Manager Sarah Henry recently hosted a week of workshops and consultations in inviting local businesses to consult and contribute their ideas as to how they would spend a potential BID pot of money to improve the city centre. A BID or Business Improvement District to give it its full title is an organization elected into being by local businesses who will invest collectively into a fund that is ring fenced for projects identified by the businesses. A not for profit BID company is established to develop the projects following a successful BID ballot – all eligible stakeholders will be invited to vote for a Newry BID in October.
BUSINESS PLAN
Businesses are invited to contribute to the development of a BID Business Plan where they have already identified areas for improvement such as business to business support, joint buying initiatives to reduce business costs such as collective media buying, insurance and waste collections all of which aim to show a return on investment for local business. An updated and managed online business directory, high street vouchers and loyalty cards, a Flag Ship Festival for the city and a new branding campaign that will raise Newry’s profile as a destination of choice for tourists, visitors and consumers are among some of the ideas businesses have put forward. There has been a strong support for the BID in Newry to date as the business community are open to the idea of having more control over spend projects and management of many city centre issues. The BID Team will be calling on all businesses over the coming months to encourage them to contribute ideas and to support a BID for Newry. If you would like to find out more please contact BID Project Manager Sarah Henry by email bidsmanger@newry.com
Newry Reporter
17th June 2015
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