Businesses on the Middlefields Industrial Estate in Sandy have voted against plans to make the area a Business Improvement District (BID).
Following a ballot, only 42 per cent of businesses on the industrial estate, voted in favour of the area becoming a Business Improvement District.
In order for the BID to go ahead, 50 per cent of the businesses who took part in the ballot had to vote yes.
The BID business plan was put together by a steering group of ten businesses from across the estate, and had it been agreed it would have seen businesses pay a levy on their rates to fund improvements to the estate such as new directional signage and increased security.
Michael Tucker, managing director of Manor Concept Refrigeration and chairman of the steering group, said: “Although the result is not what we hoped for, the BID process enabled the steering group to get to know many more of the people and businesses located on the industrial estate.
“It has listened to their concerns and hopes to build upon these relationships in the future through developing a community which can do what they can on a voluntary basis.”