Penrith Industrial Estates Business Improvement District (BID)
Penrith Industrial Estates BID was established on 1 October 2018 following a successful ballot of businesses in April 2018 for a 5 year term.
A second five year term will start on 1 October 2023 following a successful ballot of businesses in March 2023.
BID ballot and results
In 2017, we received a proposal to establish a BID covering Penrith Industrial Estate, Gilwilly Industrial Estate and Eden Business Park for a 5 year term starting on 1 October 2018. The establishment of a BID was subject to a ballot of businesses within the proposed BID area which took place in April 2018.
A ballot was held on 26 April 2018 on the proposal to introduce a BID. The ballot was undertaken as a postal ballot administered by Electoral Reform Services.
For the BID to be established two threshold tests had to be met in the ballot:
- More than 50% of votes cast (turnout) must be in favour of the BID; and
- The positive vote must represent more than 50% of the Rateable Value (RV) of the votes cast.
The total number of votes cast, excluding rejected ballot papers, was 74, representing a RV of £1,814,675. The votes in favour were 57, representing £1,526,825 RV. Both of the threshold tests were met.
A ballot was held on 15 March 2023 on the proposal for a second term of the BID.
The total number of votes cast, excluding rejected ballot papers, was 81, representing a RV of £2,373,350. The votes in favour were 65, representing £2,080,000 RV. Both of the threshold tests were met.
Support for the Penrith Industrial BID
At a full Council meeting on Thursday, 8 March 2018, Members decided to vote yes to the BID in respect of Council-owned properties where the Council is currently responsible for paying business rates within the proposed BID area.