The town’s Business Improvement District (BID) could end next year if a vote on its renewal fails, but senior councillors agreed today that the loss of the organisation would be detrimental.

The BID, paid for by a levy on certain premises, as well as voluntary contributions and grant funding, was launched in 2014 and has been behind a host of schemes to improve the town centre environment for businesses, residents and visitors.

Businesses with a rateable value of more than £12,000 – which would be mandated to pay the BID levy of 1.58 per cent – will be balloted this summer on whether the organisation should continue until 2029.

As the council owns a number of business premises within the BID’s operating area, it gets 24 votes in the ballot.

Cabinet members met today to agree that the authority should vote in favour of the BID’s continuation.

If a majority of businesses vote in favour – and those voting in favour represent the majority of rateable value of those voting – the BID will be renewed.

Presenting the report to cabinet, Councillor Dean Carroll, portfolio holder for growth, regeneration and housing, said: “This paper lays out the value of investment that has been leveraged into Shrewsbury town centre through the BID, which I think has been one of the more successful ones, not just regionally but nationwide.

“Full plaudits should go to the management and the board of the BID for that.”

Councillor Carroll asked cabinet colleagues to support voting in favour of the renewal, and endorse the draft business plan to be implemented if that ballot is successful.

The plan says the BID expects to have a total income of just over £3m over the next five years – £1.79m from the levy, £163k from voluntary contributions, and £1.05m from match funding.

Currently 481 businesses are mandated to pay the levy, based on the 2017 ratings list. This will rise to 502 from next year, based on the 2021 ratings list.

Councillor Julian Dean, representing the Green group, said he welcomed the proposed renewal of the BID and urged the organisation to ensure workers’ voices were heard as well as those of business owners.

Labour group leader Julia Buckley said Shrewsbury’s BID was seen as a “beacon of hope” in her town of Bridgnorth, which hopes to launch its own BID in the near future.

Councillor Carroll said: “I am aware of Bridgnorth’s interest and Shropshire Council most definitely supports Bridgnorth, and any other of our market towns who wish to explore the opportunities that a BID presents to them.”

Since the start of Shrewsbury BID’s second term in 2019, the organisation has secured £2.5m of investment into the town centre.

It has been behind a string of footfall-boosting initiatives including the recent giant Easter egg trail, business grants and support, safety schemes such as the Shrewsbury Rangers, and promoting the town to visitors through the ‘Original Shrewsbury’ branding.

The ballot will be held between June 8 and July 6, with the result announced on July 7.