£1.5 million in store for Oswestry after BID vote
A town has voted yes to become a Business Improvement District – securing £1.5 million of funding.
More than 70 per cent of votes cast by the businesses in Oswestry voted in favour of the BID.
It means businesses within the BID area whose rateable value is £12,000 or more will have to pay a 1.75 per cent levy on the rates over the next five years.
Oswestry will be become a BID town on April 1.
That money, along with any more that can be levered in, will be used to help the economy of the town and attract people to visit, live, work and shop in Oswestry.
Ian Follington, chairman of the working group which coordinated the development of the BID proposal and business plan, thanked members who had given up their time to work on the proposals over the last 18 months.
“We would also like to gratefully acknowledge the support and funding of the Oswestry Town and Shropshire Councils,” he said.
“Oswestry BID could not have reached this point without their assistance.
“We would also like to thank our BID consultants, Partnerships For Better Business, for their patience and hard work throughout.
“Now Oswestry BID enters a new phase of activity in preparation for the start date of April 1.
“Businesses will pay an annual levy and this collective pot of around £1.5 million over the next 5five-year period will be ring fenced and invested in promoting and developing business in and around Oswestry.
“The group would like to talk to any BID members who may be interested in joining the board and helping successfully implement the business plan.
“We are all very excited about the potential for Oswestry BID and would like to assure Oswestry businesses we will deliver against the business plan as voted for in the ballot.
“We look forward to working together to move Oswestry forwards to make it recognised as a great place to be, as we all believe it deserves to be.”