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BID idea for Sheffield city centre businesses

A plan to revive Sheffield city centre by asking local businesses to pay more has been unveiled.

Sheffield Business Improvement District (BID) said £4m could be raised over the next five years to make the city centre attractive and vibrant.

Under the plan, those that pay more than £30,000 per year in business rates would pay an additional 1% on top of that each year.

About 640 city centre businesses are eligible to vote for the scheme in February, with 1,000 city centre businesses benefitting.

James Prince, chair of Sheffield BID and managing director of John Lewis, said the money would "encourage higher footfall and greater spending from visitors".

Manchester, Newcastle, Nottingham, Birmingham and Liverpool already have BIDs.