Companies based in Guildford town centre have voted in favour of setting up a Business Improvement District (BID).
The BID, which will be known as Elevate Guilford, was backed by 83 per cent of those who voted. For the BID to move forward, there also had to be a second trigger vote requiring a majority by rateable value, which saw 91 per cent in favour.
Elevate Guildford is now expected to be launched in December. Over the BID's five-year term, an estimated £2.5 million will be generated and spent in the town centre through a one per cent BID levy.
Kirstie Gattner, the project manager for Elevate Guildford, said, "The real work starts now in delivering the new initiatives and the team aim to get started immediately in forming the new BID company and adding in the extra value to our town.
"I anticipate that we will see the first delivery of improvement for the Christmas retail period."
Since their introduction in the UK in 2003, more than 160 areas have voted to establish a BID.
By Andy Jowett