What are the benefits?
EVERYONE
- Produces economic well being and economic growth in area
- Attracts inward investment
- Gives competitive regional advantage
- Develops partnership between private and public sector
- Provides sustainable investment for ongoing capital projects/services
- Creates a greater feeling of community pride
BUSINESSES/THE OCCUPIER
- Increases footfall
- Increases consumer spend and sales - can lead to increase in profits
- Reduces costs (crime reduction, joint activities e.g. promotions/marketing)
- Is flexible to address the issues of individual sectors
- Gives businesses a local voice
- Creates a more appealing environment for employees
- Fair to smaller businesses
- Fair system, those that invest benefit - no freeloading
- Can decide and vote for action before making the investment
- Can control process, monitor results and modify it easily - flexible
LOCAL AUTHORITIES
- Harnesses private sector management/organisational drive and skills
- Promotes greater understanding of the role of LAs
- Provides new, sustainable investment and doesn't detract from other resources
- Has commercial support
THE LANDLORD
- Assists capital value growth
- Increases rental value of property and area
- Increases an area's desirability and attracts occupiers
- Increase in trade which affects turnover based rents (some retail)
- Could help properties away from main footfall areas
- Good PR for company locally and regionally
- Forges positive links with council