Banbury traders have voted yes to creating a Business Improvement District (BID).
BID’s are business-led partnerships which aim to boost town centres by directly involving the local business community in improving their trading environment.
Backed locally by Conservative-controlled Cherwell District Council, the vote announced today will build upon existing efforts supporting Banbury town centre and independent business in the town. BID will drive over £1 million worth of investment into the town centre and will; help provide a range of support projects for independent businesses, work to attract new shops to the town, help to increase footfall during quieter trading times, enhance current street markets and work to better promote all that Banbury town has to offer.
Banbury Conservatives are thrilled with the result calling it a “new chapter for Banbury town centre”.
“Last year Banbury was well-deserved runner-up in the Great British High Street awards. It was a fantastic endorsement of the hard work of Banbury businesses, local organisations such as the Chamber of Commerce and the Banbury Old Town Association, and local councils who have worked tirelessly to enrich Banbury’s retail and commercial offering despite challenging circumstances with the growth of online and mobile shopping.
The BID coupled with Cherwell District Council’s potential investment in Castle Quay II offers us a unique and exciting opportunity to improve on our already great record locally.”