COMPANIES in the Jewellery Quarter have voted in favour of creating a business improvement district for the area.
The vote for the district – an area where businesses pay an additional tax or fee in order to fund improvements – was passed after winning 80 per cent support.
Organisers said the "yes" vote – which creates the city’s 10th business improvement district (BID) was secured on a 45 per cent turnout of more than 500 businesses.
The BID was led by the Jewellery Quarter Development Trust (JQDT) in partnership with Birmingham City Council, with the aim of attracting investment, increasing visitor numbers and encouraging a more vibrant economy, while making the area a better place to work and live.
It will see businesses with premises with a rateable value of £10,000 and above pay an annual levy of two per cent to fund additional investment for the benefit of the area.
David Mahony, chair of the JQDT, said: "We are absolutely delighted. It is what we have got to do to get the Jewellery Quarter moving.
"It has been hard work. It has been the biggest in the Midlands in terms of area and it has not been the best time to drive it in terms of asking people for more money.
"It is a real endorsement."
Over the past six months the JQDT has hosted a series of consultation meetings and a drop-in day to enable business owners and potential levy payers to find out more about the plans.
The ballot started on April 17 and ran for five weeks until May 24.
The Jewellery Quarter BID area is bounded by the Jewellery Quarter side of Great Charles Street, Livery Street, Great Hampton Street, Key Hill Drive, Icknield Street, Sandpits/The Parade and Summer Row.
Birmingham was described as the "BID capital of Britain" earlier this year after it emerged that the city was home to ten per cent of all business improvement districts in the UK.
There are BIDs for Broad Street, the City Centre Retail area, Colmore District, Southside, Sutton Coldfield, Kings Heath, Erdington, Acocks Green and Northfield.