Aldgate Connect BID secures a second term

Local businesses in Aldgate have voted in favour of the BID continuing for a further 5 years.

Aldgate Connect BID receives an overwhelmingly positive response in the Business Improvement District (BID) Ballot, after the resounding vote of approval was announced.

An impressive 94.0% of votes cast by local businesses were in favour of the BID continuing for a second term (95.9% by Rateable Value). This result demonstrates a strong endorsement of the achievements of Aldgate Connect BID to date.

The successful ballot result means that the BID will be able to continue to deliver a variety of strategic and operational improvements in the area and extend its boundary to encompass areas to the immediate north and south of the previous BID Boundary.

Straddling both the City of London and Tower Hamlets, the Aldgate Connect BID will invest over £6.7 million into the area across the next five years. Funding projects and programmes ranging from championing community cohesion, showcasing the area as a destination, delivering innovate public realm programmes, and supporting community safety.

The BID will work with and support a range of stakeholders, businesses, residents and other key partners to deliver the ambitious Business Plan for 2025-2030. The BID’s second term strengthens the collective private sector investment in to this cross-borough area.

Chair of the BID Board at Aldgate Connect BID, Liam Hayes said:

“The result announcement is a fantastic demonstration of the work and positive impact that they BID has brought to Aldgate over the past 5 years. Collaboration and community have always been at the heart of our work and straddling both City of London and Tower Hamlets, ensures a collective approach to drive forward Aldgate’s growth. Our second term will see the delivery of more ambitious and innovative projects, and with the extended BID Boundary, we are excited to be supporting even more businesses and communities than ever before.”

There are now more than 70 BIDs operating in Central London, with 5 across the City of London. The appetite for more public/private investment is increasing, with businesses recognising the benefits of coalescing around shared goals, social impact and increased partnership working for better outcomes for all.

The BID is grateful for the continued support of Aldgate’s business community and is looking forward to delivering projects and programmes to make the area more appealing, safer, connected, and welcoming for businesses, locals, workers and everyone in between.

Aldgate, welcome everyone.