A scheme to make Trafford Park a business improvement district (BID) to attract investment and provide a network for companies based there is moving forward.
Trafford Council’s Executive Committee has approved plans to continue working towards setting up the initiative.
News comes after more than 500 Trafford Park businesses were consulted in a survey by Groundwork to establish levels of support, an optimum area for the BID to cover, and financial forecasts on the benefits the initiative could bring.
The research concluded that a BID would be good for Trafford Park Core and Village with the potential for Wharfside to join in later, when wide-ranging regeneration plans are under way.
Financial modelling shows that the BID, led by private sector management, could generate between £2.9m and £6.4pm in investment over five years.
Survey respondents were keen to see improvements in cleanliness, safety, highways, transport connections and environmental quality – all of which the BID could focus on.
The council and partners will now establish a private sector-led steering group, develop a business plan, test financial forecasts and refine priorities before March next year.
As eligible companies would contribute to BID finances, a ballot must be held to make sure a majority are in favour of going ahead.
Altrincham town centre’s BID was established 10 years ago and has helped to transform the shopping and business centre into a dynamic and thriving destination.
Cllr Liz Patel, Trafford Council’s Executive Member for Economy and Regeneration, said:
“A BID for Trafford Park is an exciting prospect. It will pull together the diverse array of businesses based there and create a real community that can make things happen for the better. We look forward to moving ahead with our plans.”
Trafford Council’s Leader, Cllr Tom Ross, added:
“The BID has been great for Altrincham and while Trafford Park is a very different proposition, we are confident that it will be successful and make a real difference that everyone will notice, appreciate and benefit from. One of our Council priorities is to foster a thriving economy and this initiative will certainly contribute to that ambition.”