Definition Essay Sample on Business Improvement Districts

It is important to note that there are various reasons for the establishment of business improvement districts. Some BIDs have been established so that they can mitigate and prevent the decline of towns; a perfect example of this is Swansea. BIDs have been created with the main reason being boosting and enhancing the local economy of Swansea. Some other BIDs have been set up in cities and towns that are already successful and the main reason for forming these is to control the growth and development of the respective city. An example is the South Bank business improvement district; this area is known for the many tourist attraction sites that it has, and it receives many tourists, both local and international. If planning is not done, growth might overtake the resources and infrastructure set up, and this creates a nuisance. BIDs provide a sustainable source of income for the city (Brooks, 2006). The money is used to ensure that all public spaces are kept clean and maintained properly; providing core and social services and ensuring that the streetscape is attractive; enhancing the security and safety of public spaces and business centers through employment of security guards who work hand in hand with the local police and in addition to that, they also install surveillance technology to boost security even further. Lastly, BIDs market and promote their city and also organize and set up events to compete with neighboring cities and states.

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BIDs set out on improving the quality of life for the locals and tourists as well while boosting the local economy and established an environment which supports and enhances the growth of businesses (Hoyt, 2004). They play a very transformative core and a principal role in the economic growth and strategic planning of the region. In summary, some of the pros and advantages of BIDs include; promoting fundamental area improvements through providing temporary decorations, street furniture, planting of trees and flowers and essential upgrades; ensuring the streets are clean through waste collection, constant street cleaning and offering other additional cleaning services; improving safety and security through setting up CCTVs, partnering with the local security, safety schemes, providing additional policing, improvement of signage and lighting throughout the town and business radio networks; they market the region through creating a unique identity of the area, they advertise the area and run promotional campaigns; organize events, festivals, public arts and other activities which will further market the region; provide business support services such as offering training,...