We partner with local business associations to enhance local business environments. Established in 2013, this programme has over 304 businesses involved in five BIDs across Wellington City’s suburbs. The combined capital value is estimated at $475 million (as at June 2018).
What is a BID?
A Business Improvement District (BID) is a mutual partnership between a local authority and a local business community. The aim is to develop projects and services that benefit the trading environment of the business centre in ways that also aligns with Wellington City Council objectives.
BIDs are supported by a targeted rate, levied on and collected from non-residential properties within a defined boundary.
Benefits of a BID
The BID programme brings local businesses and other stakeholders together to improve the strength of local communities to create sociable, safe and accessible destinations. BID Associations are driven by a partnership of local champions who understand their communities and have a passion for their local business district.
Benefits are wide ranging and include:
- Business decide and direct what they want in their area
- Business are represented and have a voice in issues affecting their trading area
- BID levy money is ring-fenced for use specific to the needs of the BID area
- Increased foot traffic and spend in local business centres
- Enhanced marketing and promotion
- Guidance that help shape the vision that informs activities
- Facilitated networking opportunities with neighbouring businesses
- Assistance in dealing with Council, Police and other public bodies
Better suburbs for locals
BIDs support their local areas and help raise a town or city’s profile. As enablers of events and projects BIDs are well positioned to create opportunities that encourage higher foot traffic and build brand awareness.
These programmes create a real buzz and positive image for their district. They strategise new ways to attract more visitors which will, in turn support the area’s economy.
BIDs often lead environmental and sustainability practices, making the location more attractive to visitors that can help drive repeat visits.
Furthermore, development and vitalisation projects have a better chance of getting underway if driven by BIDs and can ensure businesses are better equipped to capitalise from these projects.
BIDs strategies ensure that the city fully maximises its opportunities and strives to make suburb better places to work, live and visit.