YOUR PONTYPRIDD BID SECURES NEW FIVE YEAR TERM AFTER POSITIVE BALLOT RESULT!

Businesses in Pontypridd Town Centre have voted in favour of plans to renew the Business Improvement District (BID), securing £387,000 to be spent on further improving the area over the new five-year term. 

The positive result follows 12 months of planning and consultation with businesses to review the current initiatives of the BID and collate new ideas for the next five years. The suggestions were all considered to form a new Business Plan which led to a month-long ballot in which businesses in the area were asked to vote on the proposals.

83% of businesses by number and 81% by aggregate rateable value voted in favour of the BID (overall turnout was 42%). As a result of the yes vote the renewed Business Improvement District plan will come into effect on 1st April 2021. 

Businesses with a rateable value of £5000 or above will pay a levy based upon their rateable value, creating a collective fund of more than £380,000 to spend over the next five years.

The plans were spearheaded and driven by a steering group of business representatives from across the area, supported by The Means, who specialise in Place Making Consultancy and have helped develop and deliver Business Improvement Districts across the UK. 

Projects Officer for Your Pontypridd Business Improvement District James Payne said:“We are delighted with this result and the support we’ve received from our local business community during what will be one of the most difficult periods businesses will ever have to face, we are determined to work with our members and invest in initiatives to welcome back all staff, visitors and residents to a town which has so much potential moving forward.” 

Deputy Minister for Housing and Local Government, Hannah Blythyn MS said: “Transforming towns across Wales and making them fit for the 21st century is a priority for the Welsh Government. BIDs can play a key part in regenerating areas by providing businesses with a collective single voice, supporting economic growth and strengthening communities. It is great to see businesses in Pontypridd supporting Your Pontypridd BID for a further term, as effective BIDS have a proven track record of driving local change and managing high streets and town centres.”

The vision and objectives for Your Pontypridd Term 2 will be delivered through four themes:

A safer Pontypridd

A more accessible and attractive PontypriddA better promoted PontypriddA stronger voice to support Pontypridd businesses.

A SAFER PONTYPRIDD

Working towards a safe and secure environment which will benefit businesses, residents, workers and visitors. We will work with agencies and partners to create a pleasant environment. 

A MORE ACCESSIBLE AND ATTRACTIVE PONTYPRIDD
Creating a more accessible and attractive Pontypridd through parking initiatives, better signage, tackling empty shops, adding colour to the town, promoting a café culture, and making the BID area more inclusive. 

A BETTER PROMOTED PONTYPRIDD
Build on successful promotions by working with partners to bring more events to the town centre, better promotion of independent businesses and joint-up marketing of the BID area & developing loyalty schemes to encourage spend in members’ businesses. 

A STRONGER VOICE TO SUPPORT PONTYPRIDD BUSINESSES
Continue to represent levy payers on local and national issues affecting the BID area, have a say on major developments such as the YMCA, former Bingo Hall site and South Wales Metro, and continue to be the main point of contact when businesses need support with business rates, grants, funding, and other issues affecting them.

The BID will deliver the new objectives of the business plan over the next five years as a result of the yes vote.Our business plan for the new five-year term is available to read and download here: https://www.yourpontypridd.co.uk/back-the-bid

For any questions or further information please email info@yourpontypridd.co.uk