Government Recognises LeedsBID as Leading Business Improvement District

LeedsBID highlighted in new government strategy for its role in city centre regeneration

The Government has acknowledged LeedsBID as a prominent example of how Business Improvement Districts (BIDs) can contribute to urban renewal and economic growth. This recognition comes in the recently published Pride in Place Strategy by the Ministry of Housing, Communities and Local Government.

LeedsBID’s role in place leadership and high street revitalisation

Business Improvement Districts are partnerships formed by local businesses to improve commercial areas through additional services and initiatives funded by a levy on businesses within the district. LeedsBID is currently the largest multi-sector BID outside London and is credited with significant impact on Leeds city centre.

The Pride in Place Strategy acknowledges the vital role BIDs play in place leadership and the rejuvenation of high streets and town centres across the UK. The strategy highlights LeedsBID’s contribution to the city’s economic and cultural landscape, noting its efforts to increase footfall and support local businesses.

MONOPOLY Leeds Takeover event

One of the key initiatives featured in the strategy is the MONOPOLY Leeds Takeover, a summer event held in 2024. Organised by LeedsBID under licence from Hasbro, the event involved collaboration with multiple city centre partners and spanned 22 locations.

• The event attracted over 500,000 visitors.
• Footfall in the city centre increased by approximately 8-10% during the event.
• It generated an estimated £6.6 million in spending at local businesses.

The event celebrated Leeds’ historical connection to the MONOPOLY board game, as the city was home to Waddingtons, the company that produced the UK version of MONOPOLY and popularised the London properties on the board.

Future plans for Business Improvement Districts

The government’s strategy outlines proposals to strengthen the BID model nationwide. These include:

• Allowing property-owner BIDs to operate across the country.
• Increasing transparency and accountability within BIDs.
• Improving voting procedures for BID renewals and establishment.

LeedsBID has welcomed these proposed changes, which aim to enhance the effectiveness and reach of BIDs in supporting local economic growth and urban regeneration.

Ongoing support for high street initiatives

LeedsBID continues to support the High Streets UK campaign, which focuses on addressing challenges faced by key high streets and unlocking opportunities for local and national development.

More information on the Pride in Place Strategy can be found on the government website: Pride in Place Strategy.