The project spearheading economic and physical regeneration in Plymouth City Centre has received a funding boost to help extend it work for a further five years.

The Plymouth Business Improvement District (BID) was created in 2005 and through the management of the Plymouth City Centre Company has achieved significant success in improving Plymouth City Centre as a retail centre and destination as well as developing a strategy for regeneration.

The South West RDA is investing £50,000 to renew the BID in 2009 for a further five years. This will require a second ballot of all city centre business - 77% of whom voted in favour of the BID in 2004 and agreed to fund it by paying additional business rates.

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Ian Thompson, the RDA's area director for Devon and Somerset, said: "Through the work of Plymouth City Council and Plymouth City Centre Company the BID has made great strides in promoting a strong and diverse retail district at the heart of the Plymouth economy. We are supporting the BID renewal process because that work needs to continue."

In the first three years Plymouth City Company, which was set up to deliver the BID, has succeeded in making Plymouth City Centre a cleaner, safer and more attractive shopping destination. Major projects have included managing the arrival of the new Drake Circus shopping centre and launching a range of events and activities in support of the city centre's retail offer.

Plymouth City Company has also drawn up a vision for the regeneration of the West End of the city, the first phase of which starts next year, and has played a key role establishing the Plymouth Summer Festival, which has received funding from the RDA through the Plymouth CDC.

(JM/NS)