Waterfront Business Plan puts businesses at helm of £6.2 million investment programme
Detailed investment plans were today unveiled to drive visitor numbers and boost profitability for businesses in Plymouth’s Waterfront area. The first ever Plymouth Waterfront Business Plan sets out a five-year, £6.2 million programme which puts local businesses in the driving seat in helping transform the way the Waterfront is marketed and managed.
The launch of the Business Plan by the Plymouth Waterfront Partnership (PWP) follows more than 12 months’ consultation by the PWP with local businesses – and comes ahead of a month-long ballot when Waterfront businesses will vote on setting up a Waterfront Business Improvement District (BID).
The Business Plan sets out how the BID will work and details 42 projects to be delivered including:
- Regional,national and international destination marketing campaigns aimed at creating £63 million new annual visitor spend
- High quality waterside events programme
- Better signage,gateway improvements and water transportlinks
- Environmental improvements and a vision for investment and regeneration
- Proposals to make the Waterfront cleaner and safer,including better cleansing standards and a night time economy manager
The BID would also give Waterfront businesses a powerful lobbying voice through the Plymouth Waterfront Partnership and a greater say in all aspects of the future development, regeneration and management of the Waterfront.
Under a BID, businesses will be asked to make an annual contribution to help fund delivery of improvement projects – with a third of businesses contributing less than £100 a year and half between £100 and £500.
For every £1 contributed by Waterfront businesses a further £2 (£2.4 million in total) will be targeted in match-funding by PWP. On top of this Plymouth City Council has confirmed it will support the initiative by ring-fencing £2.7 million of funding for services on the Waterfront for the full five years of a BID and also contributing £673,000 in match funding to the BID.David Wheeler, Chairman of Plymouth Waterfront Partnership, told businesses attending the launch at the Holiday Inn Hotel, Armada Way: “The launch of the Waterfront Business Plan is the culmination of a year of detailed consultation with business on what they want for the Waterfront, their own business needs and their customers.
“The result is an exciting and thorough set of proposals to secure a better future for the Waterfront, drive visitor numbers and spend and to give businesses a strong independent voice.
“It is a good deal for businesses and the PWP Board urges them to back this Business Plan and vote Yes for the Waterfront Business Improvement District to ensure a strong mandate going forward.”
Following the launch of the Business Plan, Waterfront businesses will receive BID Ballot papers by post for the confidential postal Ballot being run throughout February by the independent Electoral Reform Services. The deadline for Ballot papers to be returned to Electoral Reform Services will be 5pm on March 2













