What is a BIA
A Business Improvement Area is a “made in ontario” innovation that allows local business people and commercial property owners and tenants in a defined area to join together and, with the support of the municipality, to organize, finance, and carry out physical improvements and promote economic development in a defined area.
Municipalities across Ontario are actively engaged in community programs to encourage development that relies on existing infrastructure and provides for distinctive, attractive, walkable neighborhoods with a strong sense of place.
Many municipalities realize that attracting new investment is only part of a good economic development strategy. Lasting economic development is achieved by retaining existing businesses and creating new ones within our community.
Street front retailing, including a range of entertainment, cultural, and commercial businesses, has a key role to play in creating and sustaining livable communities. A strong Business Improvement Area (BIA) is a tool that can improve the local investment climate and help street front businesses adapt to shifting economic trends.
Commercial activities account for more than 40% of Ontario’s gross domestic product, and small independents and local businesses make up the largest share of the jobs in the commercial sector. BIAs in particular can be a useful tool to foster local community economic development, address vacancy rates, attract and expand the customer base and contribute to the municipal tax base.
We believe New Hamburg is the perfect candidate for a BIA. The downtown core’s charm, unique shops, historic buildings and Waterwheel are only a few of the attractions New Hamburg has to offer. The proximity of our neighboring communities of Baden, New Dundee, Petersburg and St. Agatha will promote business growth for the entire Township. For more information please click on the link below or contact: email@example.com