Councillor Gordon Matheson unveiled plans to consultation local businesses on a new City Centre Business Improvement District (BID) proposal.
The consultation process will explore whether there is business appetite for a BID, and whether this is primarily retail-focused or incorporates the night time economy.
It will also explore whether the full Style Mile area should be included. The Style Mile currently covers Argyle Street, Buchanan Street, Queen Street and Sauchiehall Street.
If the BID gets the backing of the business community, it will allow the city centre to access funding in order to consolidate and develop the city centre’s position.
Councillor Matheson said: “This is the next step for Glasgow’s wonderful shopping district. We have to consolidate the excellent work already being done through the voluntary Style Mile partnership.
“With times being hard, we have to look to how we can continue to grow and regenerate our city centre so that it can retain its position as the best UK shopping area outside of London.
“I want to hear what our city centre business community has to say and therefore today I am launching a consultation on a new Business Improvement District in the city centre.
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“I believe it is vital way to reinvest business rates locally to improve the local environment. We will hold a referendum with businesses in the city centre to gauge support and I’ll champion this initiative.
“Glasgow contributes a great deal more to the Scottish economy through business rates than it gets back and I’m committed to fighting for this money to remain in the city.”
Over the last two and a half years, the Style Mile partnership has helped to support the potential of the city centre during the current economic downturn and assisted it to retain its position as the top UK retail destination outside London.
However, it is now felt the time is right to take it to the next phase if Glasgow is to keep ahead of the competition and the launch this retail BID.
Gaining BID status would see retailers and business pay a BID levy to be reinvested in the Style Mile boundary. It would also allow the city centre to take the next step to dramatically transform the opportunities and environment for everyone working and living in the area.
In May 2008, the worsening economic climate on the retail sector resulted in the city centre narrowly missing out on reaching the voting threshold to attain full BID status.
In order to retain the city centre’s competitive advantage an action plan was brought to the fore the following year using the strong links that were established with the retail sector during the BID consultation process. Covering the main BID shopping areas of Argyle Street, Buchanan Street, Queen Street and Sauchiehall Street was called Glasgow’s Style Mile.
Under the Style Mile initiative, city centre retailers and shopping centre owners pledged to work with Glasgow Chamber of Commerce, the council and Glasgow City Marketing Bureau to develop and implement measures to attract more shoppers into the centre and better their experience while there.
A BID is a defined geographical area of a town, city or commercial district, where businesses have voted to invest collectively in local improvements in addition to those delivered by statutory authorities.
A BID is not a substitute for central or local government investment, but an additional investment to strengthen the local economy and give local businesses a unified voice, helping to provide an arena for businesses and local authorities to increase their understanding of each others priorities.
It is the view of both Glasgow City Council and the Glasgow Economic Commission that it is vital to attractive private sector investment to the city centre in order to maintain and enhance the area for the benefits of businesses and the city’s people, workers, shoppers and visitors.
(GK)
