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Minister congratulates Aberystwyth on its successful BID to boost the local economy

This press release was published under the 2011 - 2016 Welsh government

Minister with responsibility for regeneration in Wales, Lesley Griffiths, has congratulated a group of over 400 businesses in Aberystwyth for successfully establishing a Business Improvement District (BID).
Wednesday 16 March 2016

A BID is an innovative way of bringing local businesses together to improve their local trading environment and increase their profitability by pooling their resources and working as a team.

The Welsh Government has provided £203,000 to support the development of 10 BID proposals in Pontypridd, Bridgend, Abergavenny, Pant & Merthyr Industrial Estates, Llanelli, Neath, Caernarfon, Bangor, and the Bay of Colwyn, in addition to Aberystwyth.

Each of the 411 businesses will pay a levy of 1.25%, generating in the region of £700,000 over five years, which will be used to:

  • improve access and connectivity in and around the town
  • strengthen relationships between the private and public sectors
  • develop a stronger business community
  • enhance the town’s offering to local people and visitors
  • build upon the town’s reputation for entertainment with a programme of vibrant events

BIDs are becoming an increasingly popular way of boosting the prosperity of towns in Wales, with the ballot in Aberystwyth coming hot on the heels of successful BIDs in Pontypridd, Llanelli, Neath, Caernarfon, Bangor and the Bay of Colwyn.

Communities and Tackling Poverty Minister, Lesley Griffiths, who has responsibility for regeneration in Wales, said:

"Congratulations to the local business people who have worked together on their successful BID.

"Aberystwyth is a popular town with many great businesses and services. However, changing lifestyles, more competition, and internet shopping mean our towns and communities must do all they can to remain interesting and vibrant places to visit.

"This is why I am pleased to have provided £23,250 to support the creation of this BID. Through pooling resources and talent, Aberystwyth can increase visitor numbers and boost investment."

 

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Housing and Regeneration 16 March 2016 Regeneration Mid Wales North Wales South East Wales South West Wales
 
 

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