Following the results of a ballot count the Tweed Valley Business Improvement District (BID) has been approved.
The Tweed Valley BID is a renewal, having first been successful in 2019. The announcement means businesses in Tweed Valley have voted to once again boost the town’s economy by paying an additional levy on top of their normal business rates which will go towards improvement projects.
A BID is an initiative promoted by the Scottish Government to help support sustainable economic growth, normally within part of a town, a commercial district or a specific tourist related area. BIDs can be a way of generating additional revenue to help local businesses invest in their local areas.
The additional income raised will be invested into the local area in line with priorities outlined in an agreed business plan.
Four key priorities have been identified in the BID – Marketing & promotion; business support; Tourism infrastructure; Events and Festivals and Business support & advocacy.
For more information visit Business Improvement District - Ballot Results | Scottish Borders Council