Over the past weeks businesses within the Tourism Sector on the Island have been deciding whether to support the proposals put forward on how Visit Isle Of Wight should be funded. Local businesses were asked to support financially VIOW so that advertising and marketing of the Island can be maintained.
On 13th JulyVIOW issued the following statement:
We are very pleased to announce that the required statutory mechanism to bring a business improvement district into operation on the Isle of Wight this September has been triggered by a YES vote.
The formation of the UK’s first County-wide BID gives the Isle of Wight a unified stronger voice in tourism at a local, regional and national level.
The YES vote was carried by a 63% vote by hereditament and 75% by rateable value of all those who voted. Therefore, all business categories listed in the WIGHT BID proposal will now be required to pay the equivalent of 1.75% of their rateable value, which will contribute to the funding of the BID programme for a period of five years.
Over the next three months we will begin the process of developing a BID governance board and working parties elected from levy payers large and small, representing different visitor economy business sectors. David Thornton and his team look forward to delivering the actions and aims laid out in the WIGHT BID proposals ready for the 2017 season.
Meanwhile Visit Isle of Wight’s summer and autumn current marketing and press activity continues as planned. Work will also commence on securing extra commercial benefits for levy-payers with suppliers and regional, national and international media channels. A voluntary scheme to encourage retailers and other mainland and Island suppliers to support the BID investment plan will also be launched by September.
Visit Isle of Wight would like to thank all those who supported the WIGHT BID, and reinforce its determination to do it’s very best for the whole of the Island’s visitor economy, benefiting all who live and work on the Isle of Wight.
Total number of votes cast in the ballot, excluding any given on ballot papers rejected: 477.
Total number of votes cast in favour of the proposed Business Improvement District for the Isle of Wight: 302.
The turn out for the Wight BID was 47.13 per cent.