Colne BID will be a "catalyst"

Colne businesses have voted to introduce a Business Improvement District, which will see the town raise its own funds to boost its economy.

Colne BID

Business leaders said the decision would be a catalyst for developing new business activities in the area.

The number of votes cast in favour of a BID was 87 of 117, or 74 per cent of voters, and £910,000, or 62 per cent, of the rateable value of votes cast.

The collective can now raise its own funds which will be used to implement four overarching priorities.

The Colne BID will work to build an effective partnership between businesses, organisations and local councils. It will maintain a bright, attractive town that customers want to visit and businesses will want to be in. Colne will be marketed as an attractive hill town, with a distinctive offer of shops, markets, events and entertainment. The town will also be protected as a safe and welcoming place to be.

These priorities are now part of the BID work programme which will be implemented on October 1 and will run for five years.

The BID was led by a steering group made up of the town’s businesses and supported by Colne Town Council and Pendle Council.

Councillor Paul White, leader of the council, said: “Colne is a thriving town and creating a BID will make the most of its potential, building on its strong customer loyalty and specialist shops and services.

“It’s a great opportunity for Colne to boost what it’s already good at and I’m really excited about what the town will achieve.”

Grahame Wharton of Grahame’s Poultry is Chair of Colne Town Centre Forum and a member of the steering group.

He said: “I’m delighted that businesses voted yes. Creating a Business Improvement District is great news for the town and means we can bring funding into Colne and invest it where it will make a real difference."

Dennis Mendoros, chairman of Pendle Vision Board and president of Mendor Enterprises, said: “Pendle Vision Board congratulates Colne and its business community for undertaking this initiative and we wish them continued success. “Colne is a significant economic centre for Pendle with a strong business partnership - this will be the catalyst for developing new business activities.”