The Jewellery Quarter Business Improvement District has received backing from companies in the historic manufacturing district to launch a second five-year term.
It held a ballot among its members asking whether they wished to see the BID return for another spell, with almost 90 per cent of those that voted saying 'yes'.
A BID is a precisely defined geographic area in which companies pay an extra levy on their rates to fund additional services such as events and initiatives.
Jewellery Quarter BID chairman Nicola Ridler said: "I am delighted the businesses have voted for the BID to continue.
"It will mean an additional £2.9 million is generated for the Jewellery Quarter over the next five years which will be used for the benefit of businesses as well as for people who live, learn and visit here.
"The Jewellery Quarter BID team will now get to work on delivering the services and initiatives set out in our renewal proposal document to unlock the potential of the Jewellery Quarter, attracting more investment, employment and visitors."
Among the projects planned by the BID are improvements to the public realm, expanding the dedicated cleaning team, boosting recycling facilities for businesses and free public wi-fi.
It will also continue to work closely alongside the Jewellery Quarter local neighbourhood policing team and strategic partners and bodies including the West Midlands Combined Authority and Midland Metro.