BID to launch in Milton Keynes could see boost for businesses

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A proposal has been launched for a Business Improvement District (BID) in Central Milton Keynes.

Council chiefs unveiled the scheme last week and, if successful, it could unlock £1.1million of investment in the city centre.

The money would be raised through a levy on town centre businesses, and would be invested to re-energise the area for businesses, employees and shoppers.

A vote of all city centre business will take place next February.

There are now over 220 BIDs in the UK, including Bedford, Watford and Luton.

READ MORE: Businesses vote ‘yes’ for third term of Bedford BID

In the initial plans the BID would run for five years (2017-2022) and be branded as part of the ‘AmazingMK’ value already launched by the council.

Philip Smith, chairman of Milton Keynes Business Leaders Partnership, said: “I do not know the detail of the proposal which has not been shown to any of the groups I represent.

“It really does depend upon the incentives offered to businesses to participate and what is on offer.”

Council leader Pete Marland said: “I strongly support the BID and I hope that local businesses will support it.

“The BID will help make CMK an amazing place to be, good for the area and good for business.

“The work MKCCM have done to get us this far is fantastic.”

The Milton Keynes Chamber of Commerce said they are aware of the proposal, but unable to comment.