PLANS to create a Business Improvement District (BID) in Newport which could see businesses investing in the city centre have been officially launched.

Newport business owners gathered this evening at the Project Space in Commercial Street to hear more about the BID, called Newport Now, and how money collected from their companies could be put to good use.

A five-year plan has been developed which will be put into place if businesses vote yes at the upcoming ballot next month.

Plans include using the annual levy of 1.25 per cent of the rateable value of eligible business units to enhance Newport's image, improve security, increase footfall and create a marketing campaign.

A number of business owners at yesterday's launch told the Argus they supported the plans.

Managing partner of Harding Evans Solicitors Zep Bellavia said: "It's pushing an open door for us. We've been in the city since 1870 and we have 120 people work for us. We'd do anything to encourage them to stay in Newport and spend money here."

Andrew Price of Barclays Bank said: "Barclays haven't refused one BID throughout the country as far as I'm told. It's all the little things that make a difference. If everybody gets together to do something, it'll work."

Project manager Tom Evans explained to guests that the BID proposal has been 15 months in the making,

He said: "I think what we've found is businesses really have a passion for the city centre and for Newport and I think with that passion and with some funds as well, we can make a real big difference to the city centre."