Businesses in Bracknell have voted in favour of plans to set up a Business Improvement District (BID), securing a significant £3m to be spent on improving the area over the next five years.
63 percent of votes cast voted in favour of the BID by total number of businesses, and 88 percent of votes cast voted in favour of the BID by Rateable Value.
As a result of the yes vote the areas new Business Improvement District will come into effect on 1, April 2020. Businesses with a rateable value of £12,001 or above will pay a levy based upon their rateable value, creating a collective fund of more than £3m to spend over the next five years.
The Bracknell BID initiative was developed by business representatives from across southern and western business areas, who formed a BID Steering Group, working with Bracknell Forest Council.