Minister congratulates Llanelli on its successful BID to boost the local economy

Minister with responsibility for regeneration in Wales, Lesley Griffiths, has congratulated a group of 260 businesses in Llanelli for successfully establishing a Business Improvement District (BID).

A BID is an innovative way of bringing local businesses together to improve their local trading environment and increase their profitability by pooling their resources and working as a team.

The Welsh Government has provided £203,000 to support the development of 10 BID proposals in Aberystwyth, Bridgend, Abergavenny, Pant & Merthyr Industrial Estates, Pontypridd, Neath, Caernarfon, Bangor, and the Bay of Colwyn, in addition to Llanelli.

Each of the 260 businesses will pay a levy of 1.25%, generating in the region of £100,000 a year over 5 years, which will be used to:

• increase the vibrancy of the retail sector and strengthen the business community through networking, training and mentoring
• market Llanelli’s distinctive assets to attract visitors and local residents
• increase safety and cleanliness
• improve access to the town

BIDs are becoming an increasingly popular way of boosting the prosperity of towns in Wales, with the ballot in Llanelli coming hot on the heels of successful BIDs in Neath, Caernarfon, Bangor and the Bay of Colwyn.

Communities and Tackling Poverty Minister Lesley Griffiths visited Llanelli in October to launch the town’s BID ballot. During the visit the Minister saw how the BID proposals fully complement the Welsh Government’s successful Town Centre Loans scheme and Vibrant and Viable places regeneration programme, which are transforming the town centre.

Lesley Griffiths said:

“Congratulations to the local businesspeople who have worked together on their successful BID.

“Llanelli is a popular town with many great businesses and services. However, changing lifestyles, more competition, and internet shopping mean our towns and communities must do all they can to remain interesting and vibrant places to visit.

“This is why I am pleased to have provided £18,750 to support the creation of this BID – ‘Ymlaen Llanelli’. Through pooling resources and talent, Llanelli can maximise its assets, increase visitor numbers and boost investment.”