BUSINESSES across Luton have voted in favour of renewing their status as a Business Improvement District.
The decision secures £2.2 million to be spent on continuing to improve the trading environment and represent business interests over the next five years.
82% of votes cast voted in favour of the BID Renewal Ballot by the total number of businesses and 88% of votes cast voted in favour of the BID by Rateable Value. The ‘Yes’ vote is higher than that in the previous ballot in 2019.
The renewal of Luton BID will start on January 1. Businesses with a rateable value of £12,001 or above will pay a levy based on their rateable value, creating a collective fund of more than £2.2 million to spend over the next five years.
BID chair Gavin O’Brien said: “This is fantastic news for Luton and a huge congratulations must go to all the businesses which rallied and joined forces to ensure we secured a ‘yes’ vote in our renewal ballot.
“Thanks must go to all those businesses that engaged in the process by sharing their ideas and opinions on how we can work together to improve the area and who, ultimately, voted in favour of the plans to support each other in these challenging and uncertain times.”
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