Love Hoddesdon Business Improvement District
In 2017 the Love Hoddesdon Team, made up of local businessmen, supported by Broxbourne Council, established a Business Improvement District (BID) in Hoddesdon town centre. . Business Improvement Districts (BIDs) have been operating successfully across the UK for over a decade and there are many established around the country, principally in town centres. There are currently 8 in Hertfordshire, including Hitchin, Watford and Welwyn Garden City, with a further 2 - 3 being developed.
A BID is a business-led and business funded body formed to improve a defined commercial area, via a small levy (1.5% in Hoddesdon) based on the rateable value of the business. The benefits of BIDs include:
- Businesses decide and direct what they want for the area
- Businesses are represented and have a voice in issues effecting the area
- BID levy money is ring-fenced for use only in the BID area
The strategic objectives of the love Hoddesdon BID are:
- Managing the town: Ensuring that the daily aspects relating to Hoddesdon town centre are met and dealt with effectively, through a dedicated town centre manager to ensure Hoddesdon’s interests are represented and the aims/objectives of its business plan are implemented. Also providing a face of the town to both shoppers/visitors and BID members - liaising with the Council, the Police and other bodies to lobby for the town and help make it a safe, green and clean place to work, shop or visit.
- Investing in the town: Encouraging growth and development within the town centre by direct investment in a number of high profile schemes, such as development of a free town centre Wi-Fi and improved signage of the town and its facilities on major routes, such as the A10 to encourage increased visitors to the town.
- Promoting the town: Raising awareness of Hoddesdon throughout Hertfordshire and the local area and wider region by enabling a series of enhanced town centre events and promotions and 21st century marketing to target existing communities and new opportunities as they arise.
The Love Hoddesdon BID levy raises around £100k a year from the 200 businesses in the town to fund this work to help local businesses to prosper and attract more shoppers/visitors to the town. It came into effect from Monday, 1st January 2018.
For more information contact Tony Cox, the Love Hoddesdon BID Manager on firstname.lastname@example.org