Sun. May 26th, 2024

A scheme used around the world to help high streets flourish and town centres thrive will be trialled as part of an Australian-first $2.75 million NSW Government pilot program.

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. Minister for Infrastructure, Cities and Active Transport, Rob Stokes, said the business community had called for the government to get behind budding BIDs looking to establish in communities across NSW. 

“Whether it’s London’s West End, New York’s Times Square or the town or Auckland’s Newton  – Business Improvement Districts have proven effective at transforming the look, feel and fortunes of streets around the globe,” Mr Stokes said.

“Nobody knows a community better than the people who are working within it, speaking to locals every day and witnessing the patterns, trends and issues that emerge in every locality and, importantly, having ideas for solutions.

“I’ve heard enthusiasm across the cities and the regions from business chambers keen to take advantage of this reform. We’re ready to work with local business communities keen to take the plunge, while we legislate for BIDs later this year.”

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 today. 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 | Transport for NSW

For more information and to register interest in the BID Pilot Program: Business Improvement District Pilot Program | Have your say NSW

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