NEWPORT’s ambition to become a ‘digital destination’ has moved closer with funding to develop proposals for a new Business Improvement District (BID).

The council wants to ‘empower’ businesses by raising awareness of the city’s digital sector to attract a skilled workforce.

It is claimed by the local authority that a digitally-focused BID would be the first of its kind in the UK.

An application to further their plans has been approved by the Welsh Government, which invited authorities to submit ideas for industry-specific BIDs last year.

READ MORE: Plans for UK’s first digital Business Improvement District in Newport

BIDs are defined areas where businesses are charged a levy which is used to fund projects that will benefit the local economy.

Newport City Council’s project has now been granted £30,000 to explore the project’s potential, with the authority expected to pay £10,000 towards costs.

Newport City Council is hoping to establish a new BID in the city

The project will be split into three stages – a study on the BID’s viability, putting the BID to a ballot and acquiring extra support to help set the BID up.

A consultant has already been appointed by the council to work with a ‘fully supportive’ Newport Economic Network (NEN) to bring businesses together to support the BID’s objectives.

“Analysis shows that companies see marketing of their sector as a weakness,” says a council report.

“The BID will aim to bring digital businesses together to collectively identify key concerns and opportunities to improve their trading environment.

IN OTHER NEWS:

“It will be the role of the appointed consultant to work with the council economic development team, and the NEN, to identify those businesses and bring them together to address these concerns as a collective.”

According to the report, early feedback from Welsh Government suggested that they were unsupportive of the application but changed their mind having ‘recognised the importance of the sector to Newport’.

Nearly £40 million has been spent by the Cardiff Capital Region City Deal on a compound semiconductor factory at Coedkernew, with the National Cyber Security Academy and National Software Academy already established in the city centre.

The USW's Newport City Campus where the National Cyber Security Academy (NCSA) will be basedThe USW's Newport City Campus where the National Cyber Security Academy is based

The Welsh Government expects the BID process to take up to two years to complete, with the initial feasibility study expected by March 31.

A decision by Councillor Jane Mudd, cabinet member for regeneration and housing, to accept the offer is expected to be confirmed on January 22.