The results of the Runcorn Retail Business Improvement District (BID) are being released today to companies who recently had the opportunity to vote to approve or reject an opportunity for a £600,000 private sector led investment in enhancing Runcorn’s key retail locations.
The vote for the BID was approved by a majority of businesses by number (58%), however, the businesses voting in favour held a 39% share of the rateable value, resulting in the project not passing the second 50% threshold required for the project to progress. Therefore, the Runcorn Retail BID 2016-2021 will not be proceeding.
This result has been a huge disappointment for the companies and stakeholders who have supported the development of the BID project for Runcorn over the last 18 months. The £600,000 added value investment would have supported a range of improvement projects and services within the Runcorn Retail trading environments, which will no longer proceed or will require investment from alternative sources.
Plans are now being reviewed by Halton Borough Council and stakeholders to consider whether there are other ways that the Council, and the business community can work together to support our town centres.
Chair of the Runcorn Retail BID Steering Group