Downtown Gibraltar Official Launch
This week saw the official launch of Gibraltar’s first Business Improvement District (BID). The not-for-profit organisation will professionally manage the BID area and deliver on a five year business plan to improve the trading environment for the 1000+ businesses within it.
A statement from Downtown Gibraltar follows below:
The Downtown Gibraltar BID Project finally launches, heralding a new start for Main Street and its surrounding areas.
This week saw the official launch of Gibraltar’s first Business Improvement District (BID). The not-for-profit organisation will professionally manage the BID area and deliver on a five year business plan to improve the trading environment for the 1000+ businesses within it.
Hosted at the Garrison Library, over 60 business owners in attendance were treated to refreshments and live music from Lorena Rodriguez of the Musicians Association of Gibraltar as they were brought up to speed on plans.
After a welcome from George Russo, BID Board Chair, the Hon. Vijay Daryanani, Minister for Business, Tourism and the Port reiterated his support for the project. Mo Aswat, BID Project Director, provided background on the concept of Business Improvement Districts, before introducing special guest speaker Jace Tyrell, CEO of the New West End Company.
Established for over two decades, the New West End Company has grown to become the world’s largest and most lucrative BID. Jace presented a quantitative insight into their BID’s development over the years, highlighting the fact that a BID levy should be considered an investment, and showcasing the impressive returns they’ve achieved for businesses through direct benefits, regeneration funds and capital investments within their area.
Stuart Byrne, BID Project Head, went on to highlight key projects from within the business plan that have been earmarked for development over the next 12 months, and encouraged business owners to “get involved” with the Downtown BID project to maximise the return on their levy. A project launch video was premiered, before Sophie Clifton-Tucker, BID Board Member and PR & Communications Manager, Sophie Clifton-Tucker hosted a Q&A with the event’s speakers.
The project will direct £4m of investment back into the Downtown BID area over the next five years. At the end of this term, a new five-year business plan will be developed and business owners will decide whether or not to vote for a second term. The funds raised from BID levy payers and HMGoG contributions will be used to develop projects outlined in the BID business plan.
To keep up to date on the project, follow Downtown Gibraltar on your favourite social media channels.
To register your business visit downtown.gi, or for any questions email This email address is being protected from spambots. You need JavaScript enabled to view it..
