Liverpool BID Company unveils plans for £5 million investment in the City Centre

Liverpool BID Company has unveiled its plans for a £5 million investment in Liverpool city centre to help it bounce back after the pandemic, weather the cost of living crisis and help businesses to go green. 

Seeking a fifth term of its Retail & Leisure BID Area this Spring, the plans would see Hope Street added to the area, which currently stretches from Lord Street to Bold Street, Renshaw Street, Williamson Square and the Cavern Quarter. The term would see the Liverpool BID Area run until summer 2028 and would take it into its third decade. 

Liverpool BID Company operates three BID Areas in Liverpool city centre; Retail & Leisure which covers the city’s shopping, leisure and hospitality heart; Culture & Commerce, taking in the city’s famous waterfront and reaching up to William Brown Street and Lime Street; the Accommodation BID, the first operating in the UK, which is exclusively for the city’s hotels and serviced accommodation providers. 

Liverpool BID is a not for profit, funded by an annual levy paid by those businesses which are eligible in designated areas of the city centre. Established in 2005, there are over 1,000 businesses in the city centre part of Liverpool BID Areas. The services they receive include dedicated street cleaning, networked radios to provide better security and coverage, lobbying and connectivity to those in power, including at a local, regional and national level. The funds are also used for events and animation in BID Areas designed to tell the story of particular neighbourhoods, to attract visitors and to help businesses to thrive. Liverpool BID also provides data services to help businesses understand how the city centre is performing. 

The budget will see £900k+ spent in Year 1 and Year 2, with £1m+ spent in Year 3, Year 4 and Year 5. 

Alongside its regular role of working with city partners on safety, security, street cleansing, networking, connectivity and more, Liverpool BID has a series of proposals for the next five years. The plans include;

• Funding a summer of festivals showcasing the character of the city centre’s different neighbourhoods including Castle Street, Bold Street, Williamson Square and Hope Street
• Investing in Christmas decorations and animation across the city centre
• Seasonal campaigns to attract visitors to the city, from Valentine’s to Halloween
• Greening the city centre and helping businesses to achieve Net Zero
• Delivering on SRFs for the Cavern Quarter and Williamson Square to improve visitor experience and attract footfall 
• Supporting cultural organisations to bring their activity into the public realm

Bill Addy, CEO of Liverpool BID Company, said:

“Almost two decades ago, Liverpool became one of the first UK cities to establish a BID, Business Improvement District, and since then Liverpool city centre has transformed. What BID offers is the opportunity for businesses to have a direct impact and say in that transformation. The levy from our businesses is an investment that goes towards making Liverpool a place to thrive, for those living, working and visiting the city. It is about working with our city partners to constantly improve and enhance the public realm, make the city more attractive, safer and easier to get around. 

“Without the BID, Liverpool city centre would look very different. We are the only organisation that develops and lobbies for a specific strategy designed purely for the city centre’s mixed economy. We bring together expertise from retail, leisure hospitality and culture to help better connect the city centre and be a voice for business. We often say that half of our work happens in plain sight, be it street cleansing, animation and activity in the public realm, and the other takes place behind the scenes with lobbying, pushing for the interests of our businesses and taking their concerns directly to those in charge”. 

“Liverpool is a visitor destination, it is a dynamic and ambitious city. While the public purse is shrinking our businesses look to their own civic role to help ensure the value of Liverpool is always seen and always felt. This helps to keep our city vibrant and reflects Liverpool city centre’s mixed economy.”

Visit the Liverpool BID Company website here.