Chairman's statement

I am delighted to introduce the Business Plan for Plymouth city centre’s proposed Business Improvement District. Following detailed consultation with retailers, property owners and other stakeholders, I am convinced that this Business Plan represents an extremely valuable investment in the city centre’s trading environment. The 25 BID projects are truly ambitious, delivering £2.1m additional investment in the city centre over 5 years.

The BID will help transform Plymouth into a top 20 retail centre within 5 years, unlocking millions of pounds of additional consumer spending. I welcomed the opportunity to chair the board of the Plymouth City Centre Company as a new start for Plymouth, unlike anything that has gone before. This BID is a direct response to your ideas to drive city centre sales, profitability and asset values, by improving your trading environment.

Our BID targets the high spending shoppers in our catchment area who currently travel to competing retail centres. The BID will enable the business community to act collectively, to attract new ideas and investment. Retailers for the first time will genuinely control their trading environment driven by a private sector management approach.

As a Plymouth businessman, I am committed to helping Plymouth city centre achieve its full potential. I genuinely believe the BID offers a unique opportunity for retailers to take ownership and enhance business profitability. I urge you to carefully consider this Business Plan, identify who will vote on your company’s behalf in the Plymouth BID ballot, held between 1 February and 1 March 2005, and ensure that your company votes ‘Yes’. It is only by working together that we can truly transform Plymouth city centre’s trading environment.

Duncan Currall, Chairman

Executive summary

• A BID will unlock Plymouth’s retail potential and improve your profitability through collective action
• Your own independent city centre BID Company with 100% accountability to you
• £2.1m additional city centre expenditure, including £250,000 marketing budget during redevelopment
• 25 major city centre projects realising Plymouth’s untapped retail potential
• £400m potential additional high street expenditure
• Target a 5% increase in city centre footfall, spend and visit time
• Transform Plymouth into a top 20 retail centre with greater business profitability
• Match funding by Plymouth City Council
• Exceptional value for money

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