Thousands of pounds could be invested in Galashiels in coming years after it secured Business Improvement District (BID) status with an overwhelming vote of support from local firms.
A previous attempt to introduce the scheme was rejected in 2018 as town businesses opted against it. However, this time the ballot was resoundingly in favour of taking the project forward with 110 of the 129 business that took part in the poll voting for the introduction of the BID.
A BID is an initiative promoted by the Scottish Government to support sustainable economic growth within a town, a commercial district or a specific tourist related area. BIDs can be a way of generating additional revenue to help local businesses invest in their local areas.
There are currently more than 30 BIDs operating in Scotland with one operating in the Tweed Valley.
Project manager Mags Fenner told BBC Scotland: “This is fantastic.
“I think the BID is going to make a huge difference to Galashiels. It is a huge opportunity for the town as it puts businesses in the driving seat.”
The successful Galashiels BID announcement means businesses in Galashiels will pay an additional levy on top of their normal business rates which will go towards improvement projects. The levy could provide almost £170,000 each year to help deliver specific projects, with four key themes identified in the BID – developing events and attractions for Galashiels; business support; creating a welcoming environment; and positioning the town as a visitor destination.
”It is a huge opportunity for the town as it puts businesses in the driving seat.
Project ManagerChief Executive of the South of Scotland Destination Alliance (SSDA)
Further Reading
To see the results of the ballot and for more information about BIDs visit Scottish Borders Council.
