Minister congratulates Neath on its successful BID to boost the local economy
20 Nov 2015 12:25 PM
Minister with responsibility for regeneration in Wales, Lesley Griffiths, has congratulated a group of 262 businesses in Neath for successfully establishing a Business Improvement District (BID).
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 Aberystwyth, Bridgend, Llanelli, Abergavenny, Pant & Merthyr Industrial Estates, Pontypridd, Caernarfon, Bangor and Colwyn Bay, in addition to Neath.
Each of the 262 businesses involved in the Neath BID will make an annual financial contribution which is expected to generate over £100,000 every year. This funding will be used to:
- create a more accessible, attractive and welcoming town centre through developing a parking strategy, providing more green spaces and improving safety
- enhance the town’s reputation as a distinctive and vibrant destination for visitors, by developing a five year marketing strategy, promoting a full calendar of exciting events building on activities such as the Neath Food & Drink Festival, and offering an incentive scheme for loyal customers
- reduce business costs by using collective switching schemes for waste, energy and recycling and exploring opportunities for reduced rate advertising.
It is hoped this range of measures will increase footfall to Neath town centre and enrich visitors’ experiences, making them want to return time and time again.
The Minister said:
"Congratulations to the local businesspeople who have worked together on their successful BID.
"Neath is a popular town with many great attractions, including Victoria Gardens and the indoor market. However, people’s shopping habits are changing rapidly and our towns and high streets must do all they can to remain interesting and vibrant places to visit.
"This is why I am pleased to have provided £17,000 to support the creation of this BID which will help ensure Neath remains a popular and thriving town."
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