Cambridge BID Term 3, 2023-2028

Cambridge Businesses Vote In Favour Of A Third Five-Year Term For Cambridge Business Improvement District (BID)

Cambridge Business Improvement District (BID) is delighted to announce that the organisation has been voted in for a third five-year term.
 

The body, which was first formed in April 2013, and was re-elected in 2018 will now run until March 2028 following the ballot in which 84% of voters from the retail, leisure, office and education sectors in the area (and 92% by total rateable value of votes cast) gave their backing to the organisation.
 

Ian Sandison, CEO of Cambridge BID, said: "This is excellent news for Cambridge as it means that £6.5million of investment will be generated for the city over the next five years. We are very pleased with the outcome and look forward to delivering our existing projects as well as the new initiatives outlined in our new business plan. Our vision is to create a world-class experience for all who visit, live and work in Cambridge, a global city.
 

I would like to take this opportunity to thank the business community for showing faith in the work of Cambridge BID."

As part of our ongoing post covid recovery there is a need to reconnect people with the city; not just to restore old habits but to encourage new patterns of behaviour.

That is why the key objectives for the next 5-years of the Cambridge BID will be:

1. To encourage more visitors to extend their stay in the city and to stay overnight. If 10% more visitors to Cambridge were to stay overnight, that would mean an extra £34million available to BID businesses.

2. To encourage more employees, students, and residents to make more of their city. If 10% more employees, students and residents in Cambridge spent an extra hour a week in the city, that would mean an extra £5million available to BID businesses.

The Business Plan document below outlines how we plan to achieve these ambitious objectives using both current projects and services together with new proposals that result from consultation with and feedback from our business community.

We have combined the project areas of Welcome and Experience and added a connect workstream to create Support and Connect as our two project themes. Cambridge BID Term 3 will deliver £6.5m of additional investment in the city over the next 5-years.