Businesses have voted to renew Plymouth Waterfront Partnership’s Business Improvement District (PWP BID) for another five years.
PWP supports hundreds of businesses along the city’s incredible Waterfront – from Royal William Yard to Mount Batten, including the Barbican, Queen Anne’s Battery and Plymouth Hoe - and this will be its third term.
Nick Buckland OBE, Chair of PWP, said: “We’re thrilled that Waterfront businesses have shown their support for the BID and given us this vote of confidence. The new BID3 Business Plan has their needs at its heart and will see us continue to work closely with partner organisations to maximise opportunities for the area.”
Diane Mansell, Chief Executive of PWP, said: “It’s absolutely fantastic that business owners have chosen to support the BID for another five years and we’re ready and raring to go with our new Plan.
“The last couple of years have been incredibly difficult for our businesses and we know that now more than ever, they need the support to drive more footfall and encourage visitors. By voting yes to the BID, they’ve ensured that the Waterfront will continue to play host to hugely popular events such as Plymouth Pirates Weekend, Seafood and Harbour Festival and the Barbican’s Christmas Extravaganza and Lights Switch-on, as well as continued investment in the environment, ensuring we offer the best possible welcome to our visitors.”
The BID will now run until at least March 2027. PWP’s new Business Plan aims to support businesses by encouraging increased footfall and economic prosperity, making continued improvements to the public realm and supporting wider city initiatives such as the new Plymouth Sound National Marine Park.
For the BID to be renewed, two tests had to be met: more than 50% of businesses who voted had to vote ‘yes’ and ‘yes’ votes needed to represent more than 50% of the total rateable value of all votes cast.
The voting figures were:
- Yes by number: 77%
- Yes by rateable value: 88%
Councillor Nick Kelly, Leader of Plymouth City Council, said: “Our Waterfront is one of Plymouth’s most unique selling points, it’s a precious asset that must be nurtured to ensure it is reaching its full potential.
“As the Council, we’re proud to work in close partnership with the BID to realise this potential and ensure that city businesses flourish. The news that the BID has been renewed for another five years is wholeheartedly welcomed and the future is looking bright.”
The BID’s new five-year term will start on 1 April 2022. The Plan for the next five years focuses on four key themes:
- Transformational: Supporting the physical aspects of the Waterfront, including the creation of the Plymouth Sound National Marine Park, working to connect neighbourhoods, and improving the resident and visitor experience
- Vibrant Tourist Destination: Increasing visitor numbers and spend by working in partnership with Destination Plymouth and visitor attractions, hosting events, supporting and growing cultural assets and the hospitality sector, and maximising marketing opportunities.
- Environmental Excellence: As well as committing to the environmental sustainability of the Waterfront, ensuring it’s an attractive and welcoming place
- Business Voice: Giving BID levy payers a collective voice, bringing the diverse local business community together and advocating for the area at a local, regional and national level.
Find out more about PWP at waterfrontbid.co.uk.