[16 JUL 98] CITY
CENTRE COMPANY COVENTRY PRESS RELEASE
Boots Secondee To Attract City Centre CashDr
Martin Stockdale of Boots has been seconded full time to help the City Centre Company to
attract a major cash injection to the heart of Coventry.
Dr Stockdale, 52, a senior manager at Boots Headquarters in
Nottingham, is developing a scheme similar to ones already tried and tested in the United
States to persuade local retailers and businesses to join in investment plans to improve
their environment.
DR MARTIN STOCKDALE - CITY CENTRE COMPANY
COVENTRY
In America businesses in retailing centres are encouraged
to form Business Improvement Districts (BIDs). New York's Grand Central Station, for
example, is a BID where retailers and businesses are asked to help with funding to improve
the area, in the knowledge that by doing so their trade and the value of their businesses
will increase.
The approach has proved a big success across the Atlantic
and the City Centre Company in Coventry believes the same can be achieved through its
Sustainable Funding Initiative.
"We realise businesses already have an investment in
the city, but Coventry must move forward," says Dr Stockdale.
"If we can provide sound business gains, we can
generate more value from business's contribution.
"It is a commitment to their future. We can take the
situation in the city centre and improve it. By doing that we shall drive up the values of
their businesses and their investment will be worth more. It is about the delivery of a
business plan and strategy with agreed targets."
Boots The Chemists has a big investment in UK city centres.
"The vast majority of our stores are in city centres
and their on-going health is of great importance to us," he says.
"Boots has been one of the main supporters of city
centre management in this country and we are particularly interested in Coventry's City
Centre Company because of its uniqueness. It is the first time in this country that such a
company has been set up, in which the City Council has only 20% of the Board
representation.
"Boots wants to lend its support to such an
innovation, hence we are lending management expertise to assist their efforts."
Dr Stockdale is married with a 23 year old daughter.
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