Banbury BID vows to make town centre 'vibrant and entrepreneurial' after businesses vote them back in for another five years

Terry and Jasmine from the Banbury BID aim to make the town centre vibrant and prosperous in their next five-year term.

The Banbury BID ballot saw 77 votes cast in favour of renewing the BID from a total number of 138 possible votes. There was one vote which was rejected as either unsigned, unmarked or void.

The ballot results mean that the BID team will serve another five-year term and the town centre will receive £820,000 in investment over the next five years.

The £820,000 investment money is paid from business owners within the BID area with a value of over £10,000. They will pay an annual levy to the BID based on 1.5 per cent of their property’s rateable value.

The BID team aims to use the investment money on events and projects in line with the business plan proposed to eligible businesses, with the aim of increasing the footfall of shoppers and visitors to the town centre.

Jasmine Gilhooly, the BID strategist, said: "We think it's important to celebrate the fact that people are seeing the potential in having a BID in Banbury. We are really humble and grateful that people have supported what our team has done in the past 12 months.

"The BID is all about the community and promoting entrepreneurship, our job will be to market and promote the town as a vibrant and entrepreneurial place where people’s businesses can thrive and make the town centre the best it can possibly be. We want to create events and initiatives to make people want to come into the town centre.

"We are always open to conversations to help make the centre more prosperous. If someone notices something that we should be doing, then open that conversation with us because conversations generate ideas."

Cllr. Ian Corkin, the deputy leader of Cherwell District Council and portfolio holder for regeneration and economy, said: "I am delighted that Banbury will continue to have, for the next five years, a Business Improvement District. Banbury is the only town in Oxfordshire to have a Business Improvement District and it is a welcome benefit for Banbury, enabling significant resource to help promote the town and its retail, cultural and leisure offer.

"The delivery of the BID’s business plan will be an enormously valuable addition to the council’s own commitment to Banbury town centre and it will complement the council’s regeneration plans going forward."