A business improvement district in Birmingham has entered a third term of operations. Jewellery Quarter BID has secured the backing of local companies for another five years in the historic district known for its jewellery manufacturing and independent bars, retailers and creative firms.
The renewal ballot saw a positive vote of 87 per cent in favour of a third term. A BID is a precisely defined geographic area in which companies pay an extra levy on top of their business rates to fund additional services such as events and initiatives.
Jewellery Quarter BID said it had brought in more than £4.5 million of investment via levy payments and a further £4 million of investment through partnerships since being founded a decade ago.
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It is responsible for the district's annual summer festival, the ‘Clean Team' initiative which has collected thousands of bags of litter during the past five years and the Discover JQ website and app to promote events and businesses.
The area has become synonymous in recent years with new residential developments and conversions of disused empty buildings. Work is well under way on the which will have more than 300 apartments alongside commercial space while consent is in place for Moda Living to build 722 units on Ludgate Hill Car Park.
The company, which recently completed the 42-storey Mercian tower in Broad Street, is planning to build a series of blocks reaching up to 39 storeys.
The BID said it expected around 5,000 new residents to move into the quarter over the next five years, with £150,000 earmarked to increase footfall and promote tourism.
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BID board director Beth Saddler said: "We are delighted the businesses have voted for the Jewellery Quarter BID to continue. It will mean an additional £2.25 million is invested in valuable projects and initiatives that benefit the business community as well as residents, students and visitors.
"We wish to thank the BID team for their hard work throughout the previous term and the ballot and know they will continue to deliver excellent work moving forward."
Executive director Luke Crane added: "After five years of hard work to support our business community through some really tough times, we are so grateful that our levy payers have voted for another term.
"We couldn't have achieved this without our amazing team and I want to thank all of the staff for their dedication and all of our businesses for believing in the work of the BID. We look forward to delivering another five years of investment to improve the quarter."
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