We are delighted that the local business community has voted in favour of a new Business Improvement District for the Culture Mile area in the City of London.
Local businesses have voted overwhelmingly in favour of creating a new Business Improvement District (BID) in the Culture Mile area of the City of London securing investment plans totalling more than £9m over the next five years. Driven by the private sector, the Culture Mile BID will go live in April for a first five-year term, delivering a range of ambitious projects including major public realm enhancements, agenda-setting green and climate resilience initiatives and high-profile destination marketing campaigns. The Culture Mile BID will join the four BIDs already established in the City, Cheapside Business Alliance, EC BID, Fleet Street Quarter and Aldgate Connect BID. In the Culture Mile Partnership, of those businesses that voted, 85% voted ‘yes’ at the ballot (88% by rateable value). The ballot results are a strong endorsement of the work of BIDs across the Square Mile and London, where now there are more than 70. The City of London Corporation, as BID proposer across the Square Mile, is committed to supporting the development of BIDs and looks forward to working collaboratively with businesses to deliver on their aims and aspirations for a diverse, inclusive, and sustainable community, providing the platform for businesses to continue to evolve and flourish. The BID team will now work with the City Corporation and other partners to deliver the ambitious business plans which were published in advance of the ballots being held. Visit the website for more updates on the BID’s work.