Business Improvement Districts Launching In Bangor And Caernarfon

Business representatives from Hwb Caernarfon ‌​‌​‌​​​‍‌​‌​​‌‌‌‍‌​‌‌​​‌​‍‌​‌‌‌​‌‌‍‌​‌‌‌‌​​

North Wales’ first Business Improvement Districts have recently been formed in Bangor and Caernarfon. ‌​‌​‌​​​‍‌​‌​​‌‌‌‍‌​‌‌​​‌​‍‌​‌‌‌​‌‌‍‌​‌‌‌‌​​

The Business Improvement Districts (BIDs), which have been developed in collaboration between Gwynedd Council and the business community in Bangor and Caernarfon will aim to improve trading conditions for each business community. ‌​‌​‌​​​‍‌​‌​​‌‌‌‍‌​‌‌​​‌​‍‌​‌‌‌​‌‌‍‌​‌‌‌‌​​

The launch of the BIDs follows a two-year development process which included significant consultation with the business communities, and a recent ballot where companies in both areas voted in favour. Not-for-profit BID companies have been established with the support of Gwynedd Council – Bangor BID and Hwb Caernarfon, with each BID led by a board of directors with a part time manager to implement the projects to improve the city and town centre. ‌​‌​‌​​​‍‌​‌​​‌‌‌‍‌​‌‌​​‌​‍‌​‌‌‌​‌‌‍‌​‌‌‌‌​​

Llyr Jones, Gwynedd Council Economy and Community Senior Manager said: “This is a dawn of a new era for both areas, with Bangor BID and Hwb Caernarfon the first Business Improvement Districts established in north Wales. ‌​‌​‌​​​‍‌​‌​​‌‌‌‍‌​‌‌​​‌​‍‌​‌‌‌​‌‌‍‌​‌‌‌‌​​

“The new Business Improvement Districts are very much led by the local business community and will be able to invest in developments and initiatives based on local priorities. We look forward to working with and supporting the newly created BIDs in promoting and improving the economic prospects of both areas.” ‌​‌​‌​​​‍‌​‌​​‌‌‌‍‌​‌‌​​‌​‍‌​‌‌‌​‌‌‍‌​‌‌‌‌​​

Both BIDs will see a 1.5% levy of rateable value with the funding raised used to invest in the area. In Bangor, there are 339 businesses within the BID area, with approximately £635,000 expected to be raised over five years to invest in improvements in the city. With 347 businesses within its area, Hwb Caernarfon expects to raise approximately £430,000 to invest in improvements in the town over the same period. ‌​‌​‌​​​‍‌​‌​​‌‌‌‍‌​‌‌​​‌​‍‌​‌‌‌​‌‌‍‌​‌‌‌‌​​

Haydn Davies, Chairman of Bangor BID board said: “The Bangor BID will be a new start of the business community in Bangor. The BID will be looking to put the city on the front foot by giving us a strong voice to shape the future prosperity of the city.” ‌​‌​‌​​​‍‌​‌​​‌‌‌‍‌​‌‌​​‌​‍‌​‌‌‌​‌‌‍‌​‌‌‌‌​​

Chris Stuhlfelder, Chairman of Hwb Caernarfon noted: “This is an exciting time for the business community in Caernarfon. The Hwb will have an important role in bringing additional investment and positive change to Caernarfon.” ‌​‌​‌​​​‍‌​‌​​‌‌‌‍‌​‌‌​​‌​‍‌​‌‌‌​‌‌‍‌​‌‌‌‌​​

Learn more about Hwb Caernarfon on www.agbCaernarfonbid.co.uk, visit Hwb Caernarfon on Facebook or email post@hwbCaernarfon.cymru ‌​‌​‌​​​‍‌​‌​​‌‌‌‍‌​‌‌​​‌​‍‌​‌‌‌​‌‌‍‌​‌‌‌‌​​

Both BIDs have been established with funding from the Welsh Government, Gwynedd Council and local town and city Councils. Both Bangor BID and Hwb Caernarfon are led by an interim board before a permanent board is established at their first AGM in September. ‌​‌​‌​​​‍‌​‌​​‌‌‌‍‌​‌‌​​‌​‍‌​‌‌‌​‌‌‍‌​‌‌‌‌​​