Businesses across Penrith’s 3 business parks covered by the Penrith Industrial BiD have been voting in a ballot to renew the Penrith Industrial BiD for a second 5 year term.
The ballot took place on the 15th of March with votes counted today.
The total number of votes cast, excluding rejected ballot papers, was 81, representing a rateable value of £2,373,350.
The votes in favour were 65, representing £2,080,000 rateable value.
For the BID ballot to be approved two threshold tests had to be met in the ballot with more than 50% of votes cast required to be in favour of the BID and the positive vote must represent more than 50% of the Rateable Value of the votes cast.
The Penrith Industrial BiD started its first 5 year term in October 2018 following a Yes vote to establish the Industrial BiD.
The YES vote result today means the Penrith Industrial BiD will start a second five year term on the 1st October 2023.
The renewal vote result comes on the same day that Eden District Council planning committee at its last ever meeting approved plans to expand the Eden Business Park opening up more space for the continued growth of the town’s industrial parks.
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