Stirling traders vote to create a new Business Improvement District for the city
Traders in Stirling have voted by a 58 per cent majority to create a new Business Improvement District (BID) for the city. The scheme will potentially raise an additional £750,000 of outside funding to a £1.6m fund to boost the commercial fortunes of Stirling.
Supporters of the city centre scheme known as Go Forth Stirling, which levies charges from local businesses to invest in improving the city's offering to shoppers and visitors, promoted the plan, on the grounds that BIDs "have a proven track record of attracting and raising additional external funding for their respective areas."
The money raised to fund the business plan has been generated by the affected businesses in the BID area.
In a vote held on Tuesday, eligible businesses voted by 114 votes to 71 for the plan, on a turnout of 48 per cent, with 10 void votes.
David Gowen, a spokesman for Go Forth Stirling said: "Across the Scottish BIDs this equates to an average of 47p for every £1 of levy raised. It is an approach that Go Forth Stirling will follow; using the projected five-year levy fund of £1.6 million to inspire and attract additional inward investment to benefit the BID area further."