BUSINESSES in Galashiels will vote on plans to boost the town’s economy by charging a fee to go towards improvement projects.

Elected members of Scottish Borders Council are being asked to support the Business Improvement District (BID) process at the Executive Committee on Tuesday.

Firms would pay an additional levy on top of their normal business rates bill under the proposals.

It is planned to run the ballot on November 20.

A report published ahead of the meeting states: “A BID is an initiative promoted by the Scottish Government to help support sustainable economic growth, normally within part of a town, a commercial district or a specific tourist related area.

“The BID process is normally led by the private sector and can be a way of generating additional revenue to help local businesses invest in their local areas and therefore help in the process of regeneration and the attraction of visitors and additional footfall.”

A BID for Galashiels was previously considered in 2018 and elected members provided support for the process.

But it failed to attract the necessary backing from businesses at the ballot.

Four key themes have been identified in the BID – developing events and attractions for Galashiels; business support; creating a welcoming environment; and positioning the town as a visitor destination.

The council estimates the levy could provide almost £170,000 each year to help deliver specific projects over half a decade.

There are 33 BIDs currently operating in Scotland. One is in the Borders in the Tweed Valley.

The Galashiels BID area includes around 350 eligible properties.

The report adds: “The key principle behind the BID process is that local businesses pay an additional levy on top of their normal non-domestic rates bill.

“Each person, representing a property and liable to pay the BID levy, will be able to vote to either support the BID or not to provide support.

“If the BID is successful, the additional income is invested into the area in line with priorities outlined in an agreed business plan.

“The interests of both large and small businesses are protected through a voting system that requires a majority for both the number of votes cast and the rateable value of votes cast, noting that larger businesses will have a larger rateable value and therefore will be subject to a larger levy.”

A steering group was developed to manage the Galashiels BID proposal including prominent business owners and volunteers from organisations.