Minister congratulates Pontypridd on its successful BID to boost the local economy
Minister with responsibility for regeneration in Wales, Lesley Griffiths, has congratulated a group of nearly 240 businesses in Pontypridd 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, Abergavenny, Pant & Merthyr Industrial Estates, Llanelli, Neath, Caernarfon, Bangor, and the Bay of Colwyn, in addition to Pontypridd.
Each of the 238 businesses will pay a levy of 1.25%, generating in the region of £78,000 a year over 5 years, which will be used to:
- make the town more accessible through developing a parking strategy and improving rail, bus and cycle links
- create an entertaining programme of regular events, reward local shopping, and market the town’s distinctive assets to attract visitors
- strengthen the business community through networking, sharing costs and using a collective voice to address issues affecting them.
BIDs are becoming an increasingly popular way of boosting the prosperity of towns in Wales, with the ballot in Pontypridd coming hot on the heels of successful BIDs in Llanelli, Neath, Caernarfon, Bangor and the Bay of Colwyn.
Communities and Tackling Poverty Minister, Lesley Griffiths, who has responsibility for regeneration in Wales, said:
"Congratulations to the local business people who have worked together on their successful BID.
"Pontypridd is a popular town with many great businesses and services. However, changing lifestyles, more competition, and internet shopping mean our towns and communities must do all they can to remain interesting and vibrant places to visit.
"This is why I am pleased to have provided £25,000 to support the creation of this BID. Through pooling resources and talent, Pontypridd can maximise its assets – such as proximity to the University of South Wales – increase visitor numbers, and boost investment."
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