A BUSINESS improvement district (BID) is to be set up in Okehampton.

Sixty five per cent of businesses in the town who voted were in favour of a BID which is expected to see £650,000 raised over five years for improvements to help boost the economy.

Just over a third of the 270 business ratepayers eligible to vote took part in the ballot.

Companies in the BID zone, which includes industrial areas on the edge of Okehampton, will pay a levy on top of their business rates to fund the scheme, which will develop projects to enhance the trading environment and attract more business.

The BID will be managed by a board made up of local stakeholders.

Okehampton previously attempted to set up a BID in 2013 but the proposal failed because smaller businesses objected.

Lead member for economy on West Devon Borough Council Cllr Neil Jory (Con, Milton Ford) said he was a little disappointed that the turnout was not larger, but it was about average for the first term of a BID, which generally last five years.

He said this was a good development for Okehampton and it is now vital to get the board and manager in place.

“Everyone involved, including the steering group and the borough council, has worked really hard on this. It will now be up to the board to make sure it is a success in the future.”

Tavistock has had a business improvement district since 2011 and it is claimed its promotions have raised the profile of the town and footfall. Since that time more than £750,000 has been invested into local projects.

West Devon Borough Council is responsible for collecting the business rate levy for the BID company.

Cllr Jory said the success of the Tavistock BID, which is responsible for organising a popular Dickensian evening, Christmas lights and many other events, may have influenced support in Okehampton this time around.

“I think also it’s the general economic situation, folk are realising that we have to do something or these local towns will wither and die,” Cllr Jory concluded.

Alison Stephenson

LDRS