Business people and town centre managers are celebrating after winning a vote to retain a scheme which will generate an investment of more than £750,000 in the town over the next five years.
More than 200 businesses took part in the vote on whether they wanted to continue with the Melton BID (Business Improvement District) up to 2021.
And 67 per cent - equating to 133 town centre shops, offices and manufacturers - voted to keep the project going.
The decision means plans to improve the street scene, town centre marketing and promotion initiatives, business support schemes and strategies to improve footfall will all now go ahead.
Andrew Cooper, chair of the Melton BID said: “This is a great result, not only for the BID Company but also for the town.
“We can now continue with the work that we have undertaken over the last five years, but also implement our new five-year business plan, which will mean a significant investment of around £750,000 into the town, without which many events and projects would not happen.”
Since 2011, the Melton BID has generated over £670,000 funding for the town centre. It is mainly funded by levies from 433 businesses - they pay 1.5 per cent of the rateable value of the property they occupy. The BID team also looks for extra funding for the town and in the first five years this amounted to £30,000.
The scheme works to develop popular annual events such as the teenage market, chilli festival, evening markets and heritage events and it also organises business support initiatives such as the free trade waste recycling scheme, which has been used by more than 250 businesses.
The yes vote means the BID team can press ahead with plans to develop a town centre website, which will work in conjunction with the new Town Centre App.
It also intends to install wi-fi connections in key areas of the town and a ‘click and collect’ scheme for independent traders.
Melton Council leader, Cllr Pam Posnett, said it was crucial for the town to renew its BID for a second term to ensure valuable investment to safeguard the local economy and the historical character of Melton.
She said: “I am delighted that we have been successful in continuing with the BID.
“It is a great testament to our businesses that they have voted to continue with the scheme.
“I feel that we are all interested in developing our town and working together to achieve a town that people want to invest in and visit.”