A Business Improvement District (BID) is a partnership arrangement through which local authorities and the local business community can agree to take forward schemes of benefit to the local business community. It is suggested that they be funded, at least in part, by increased business rate payments. It is a concept that originated in America, where they have been successful in revitalising local areas, and where perhaps one of best known BIDs is Times Square in New York. In England and Wales, a number of pilot BID projects have already been identified and the Local Government Bill will provide the necessary enabling legislation to allow BIDs to operate in England and Wales.
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