Liverpool to receive £5 million injection following BID vote
Liverpool City Centre is set to receive a £5m investment after business voted in favour of the Retail & Leisure BID (business improvement district).
The investment will go towards animation and marketing, street cleaning and maintenance of the public realm, as well as networking and business events.
It will be the city centre’s fifth term as a BID, with the scheme running until 2028. The BID area previously stretched from Lord Street to Bold Street, Renshaw Street, Williamson Square and the Cavern Quarter. It will now extend to Hope Street.
Liverpool BID is a not-for-profit organisation funded by an annual levy paid by eligible businesses in designated areas of the city. Established in 2005, there are now 1,000 businesses in the city centre which are part of the Liverpool BID.
The budget will see a spend of £850k in the first year, followed by £900k+ in the next three years and finally £1m+ in the fifth and final year.
Bill Addy, CEO of Liverpool BID Company, said: “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.”