Milton Keynes BID
Our BID Area
Milton Keynes is a new city, the largest settlement in Buckinghamshire, and has a resident population of over 250,000. With frequent and rapid rail transfer to London Euston, the City Centre has become a headquarters location for major employers including Santander and Network Rail, as well emerging tech giants such as Aiimi and we are the test bed for innovations such as robot deliveries and driverless vehicles.
Our BID covers the city centre, from the station to the main shopping areas of Centre:MK and Midsummer Place, as well as Xscape, one of the largest leisure complexes in the UK, plus numerous hotels, leisure, and performance venues. The city centre is visited by over 3 million people annually.
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A Business Improvement District – or BID – is a way for local businesses to work together to tackle issues that affect their trading environment. Over 330 BIDs operate in the UK to deliver projects or services, identified by the local businesses, to enhance the performance of businesses in the district. This could include extra marketing, safety, cleaning or environmental measures. BIDs are business-led organisations, funded by a mandatory levy, added to the business rate, on all eligible businesses after a successful ballot.
What Is a BID?
Background
MyMiltonKeynes BID is a not-for-profit private limited company, funded primarily by businesses in Milton Keynes City Centre, via an annual BID levy. We began trading on 1 June 2017 for our first five year term, then renewed for a second term on 1 June 2022 following a ballot of which 95% of respondents by number voted YES and 97% of respondents by rateable value voted YES. We deliver projects and services in line with the BID Business Plan.
Any person or organisation liable to pay the non-domestic rates for a property within the BID area, with a rateable value of £50,000 or more, is liable to pay the BID levy, with the exception of registered charities that qualify for rates relief. The BID levy charging mechanism is simple and fair: the levy is charged at 1.25% of the Rateable Value of each eligible business on 1 June each year (plus 3% inflation each year from 2023). Retailers that pay a service charge to centre:mk, Midsummer Place, The Hub, 12th Street and Xscape are charged at the lower rate of 1% (same inflationary provisions apply). Businesses not part of the BID may request to join the BID as a voluntary member.