°¬˛ćAƬ County Borough Council is pleased and proud to announce the successful outcome of the Rassau & Tafarnaubach Industrial Estate Business Improvement District (BID); the first industrial estate BID in Wales.
It will commence April 2020 for a period of 5 years and will focus upon the Regeneration of the area which will help to create prosperity and growth of the businesses.
A BID is a business-led and business-funded body formed to improve a defined commercial area, in this case the Rassau and Tafarnaubach Industrial Estates. Since 2005, over 320 UK BIDS have been formed in the UK to deliver specific projects that benefit the businesses they represent.
A BID is funded by a levy on the rateable value of the business property, and this collective pot is used to deliver the projects in the business plan.
The Rassau and Tafarnaubach Industrial Estate BID will represent businesses on both of the estates, delivering projects that improve the environment to do business. Through its operational activity and representative function, it will play a part in creating a safe, clean and supportive environment for businesses to thrive.
A °¬˛ćAƬ County Borough Council Spokesperson Said:
“This is fantastic news for the borough and businesses in the area and particularly being the first industrial estate BID in Wales. We are able to achieve far more collaborative working with partners and businesses alike.
As part of the BID, the Board of Directors that will be appointed will turn funds into a variety of business improvement projects for Rassau and Tafarnaubach Industrial Estate. This will improve economic, regeneration and business prospects for the specific areas.”
The development of the BID has been supported via °¬˛ćAƬ County Borough Council and The Welsh Government.
Economy and Transport Minister, Ken Skates said:
“It’s great news that businesses on the Rassau and Tafarnaubach Industrial Estates have voted to establish a Business Improvement District (BID). This is the first Industrial BID to be established in Wales and will provide £387,000 of funding for the five year BID term to spend on security, maintenance, and business representation.
“BIDs are proven to drive change, support the local economy, and bring businesses together to have a collective voice in issues that matter to them. I am pleased this proposal was brought forward by the Ebbw Vale Enterprise Zone and set up thanks to funding from the Welsh Government.”
For further information about the Governments Business Improvement Districts (BID) visit:
https://gov.wales/business-improvement-districts/business-improvement-districts-in-wales
https://www.gov.uk/guidance/business-improvement-districts
http://rassautafarnaubach.com/