Why do we need it?
Paignton was once a significant holiday resort and centre for
the traditional two week family holiday. It had a thriving retail
heart with a diverse range of shops and service businesses.
The era of cheap flights and package holidays abroad caused
Paignton and other UK seaside holiday resorts to fall into
decline. Over the past decade Torbay has lost 400,000 visitors
and spending per head has decreased significantly.
In recent research carried out by the Torbay Development Agency with non-visitors to the Bay, the most commonly cited reason for not choosing to holiday here was the poor quality of the town centres and the limited retail offer. This, coupled with the recent extensive redevelopments at Drake Circus Plymouth and Princesshay in Exeter and the expansion of the out- of- town offer at The Willows, means that many residents in the Bay have deserted Paignton town centre in favour of the competition, which has contributed to a very sharp decline in Paignton’s retail heart.
A collective effort has to be made between business and the statutory authorities to find ways to turn the fortunes of the town around before the decline becomes even more severe. In an ideal world we might look to the Government and Councils to provide additional services in order to raise standards, but grant funding is being cut in these harsh economic times, and so the reality is that, rather than seeing an increase in funding, the reverse is more likely to be the case.
BIDs provide a mechanism that enables the public and private sectors to work together towards a common goal of enhancing and improving their trading area. The BID initiative supports the long-term sustainability of town centres and will enable Paignton to regain its position as a viable and attractive retail centre and holiday resort for both shoppers and investors. It gives local businesses an opportunity to influence, at a practical level, how the town is managed in the future.