Liverpool city centre is to get a £5m investment, as local businesses have voted in favour of a new and expanded business improvement district (BID).
The Retail and Leisure BID area, which ran from Lord Street to Bold Street, Renshaw Street, Williamson Square and the Cavern Quarter will now be extended to Hope Street.
The cash, which is spread over 5 years will be spent on animation and marketing, networking and business events, and street cleaning and maintenance.
It’s the fifth term of the Retail & Leisure BID, which was established in 2005 and will now run until summer 2028.
“Liverpool was one of the first cities in the UK to establish a BID and it fully reflects the approach of the city’s business community to commit to the city’s future. The levy from our businesses is an investment that goes towards making Liverpool a place to thrive, for those living, working and visiting the city. It is about working with our city partners to constantly improve and enhance the public realm, make the city more attractive, safer and easier to get around,” said Bill Addy CEO of Liverpool BID Company.
“Without the BID, Liverpool city centre would be a very different place. As well as events and public realm investment and management, we lobby on behalf of our city centre businesses. To be a destination for visitors and investors, Liverpool has to be a place that works for everyone. Our rich mixed economy, in culture, retail, leisure, hospitality and commerce helps us to be a city that is growing in both confidence and prominence. We always want to ensure that, as a city, we do our best for business as well as for visitors. We look forward to the challenge of the next five years in Retail & Leisure”.
Liverpool BID is a not for profit, funded by an annual levy paid by businesses which are eligible in designated areas of the city centre.
The budget will see £850k spent in Year 1 and £900K+ in Years 2, 3 and 4, then £1m+ in Year 5.