READING Economy and Destination Agency (REDA) has launched the bid to continue with the town’s Business Improvement Districts for further terms.
After a consultation last year, REDA is looking to continue the two Business Improvement District areas which are currently in place when their terms come to an end.
Businesses from around Reading were invited to the event as part of the launch, as they are consulted before the districts are renewed.
They were also introduced to the business plans set out in the proposals, which will see investment in a number of areas.
These include social and health issues, such as staff en
Postal ballots take place for business ratepayers within the proposed areas is set to take place from Thursday, January 25 until Thursday, February 22, where they will vote whether to continue with the BIDs.
This is because businesses contribute a levy on their business rates to deliver extra services, equivalent to 1.4% for the 2024-2029 term.
The Reading Central BID has been in place since 2006, having been renewed four times, funding business wardens, events, displays and seasonal decorations, street cleaning and maintenance, and cultural programs.
It also sees dedicated services supporting Reading’s night-time economy, recycling collection, and other services.
The Abbey Quarter BID was established in 2019, covering many of the town centre’s office buildings and helping them through investment in public spaces, marketing, and a number of support initiatives through the COVID-19 pandemic.
Now they’re both up for renewal, as their current terms end in March.
Adam Jacobs, Chair of REDA and owner of Jacobs the Jeweller in Reading town centre, said: “Reading’s BIDs are the heartbeat of our business community. They have punched above their weight for the last five years, becoming an invaluable asset to our community and ensuring Reading town centre continues to flourish as a thriving, progessive place in which to work, live, do business as well as to visit. As a group of Reading businesses, we face a pivotal moment – a YES vote for the 2024-29 BIDs is a vote for continued prosperity, innovation and an investment of £7.5 million in our town centre and our businesses.”
Alexa Volker, Reading BID Manager, said: “Town centre businesses tell us the huge difference Reading BID makes to the town centre, from enhanced security to better trained staff.
“These services form the cornerstone of the exciting new proposition we are putting to businesses later this month which would allow the BID to continue this work for another five years.”
Mayor of Reading, Councillor Tony Page: “The BID has been a vital part of the economic growth of our town centre and it is essential that it continues to be so, and Reading Borough Council looks forward to continuing to work in partnership with the BID for many years to come.”
