A COMPANY to run the Aberystwyth Business Improvement District scheme has been given approval by the Welsh Government.

The BID scheme, which proved controversial after criticism from a string of local businesses, sees all businesses in a designated town centre area pay a levy on their business rates into a fund which will then be used to pay for developments aimed at improving business conditions.

While the vote of businesses resulted in a narrow victory in favour of establishing a BID in Aberystwyth, Chris Mackenzie-Grieve of the steering group said a new board for the scheme was an “exciting initiative” for Aberystwyth that could help boost the town and businesses in Aberystwyth.

He said: “The BID steering group are pleased to announce that the Welsh Government have endorsed the formation of the Aberystwyth BID company.

“We will now move ahead to form the BID company, the first task of which will be to form a board."

See this week’s south editions for the full story, in shops and online on Wednesday