Business improvement districts (BIDs) are a place-based governance arrangement that empower businesses to have a greater say in how their local high streets function.
Business Western Sydney executive director David Borger has championed measures to allow BIDs to be established.
“Business Improvement Districts are an innovative way for local business communities to take a stronger stake in shaping the rejuvenation of their high streets,” Mr Borger said.
“BIDs come in all shapes and forms and we want to see business communities from our CBDs to the local high street in the suburbs given the tools and structure to invest in local amenities and improvements that will drive more business and create jobs.”
The pilot program will support organisations across NSW including councils and local business chambers to establish a BID and trial new approaches.
The award of funding to projects and pilot locations will be subject to an assessment process.
The pilot is informed by feedback from community consultation last year, as set out in the policy paper released on Thursday (23 February). It identifies the next steps for BID policy reform and how the pilot program will streamline BIDs being established in NSW.
Registrations of interest to participate are now open for regional and metropolitan areas across NSW. Those submitting a registration of interest could undertake work to investigate establishing BID functions, developing strategies and plans for their place, as well as undertaking ‘on-the-ground’ activities.
To download the policy paper Next Steps for Business Improvement Districts: Business Improvement Districts in New South Wales, visit the Business Improvement Districts website.
