Retailers in Northwich have voted for the creation of a retail business improvement district, one of the first in Cheshire.
Business owners in the area will pay a 1% levy on business rates over the next five years which produce a £1.25m fund to pay for town centre improvements and promotional initiatives.
Organisers said the investment would focus on improving the marketing and profile of Northwich, developing and enhancing the portfolio of events and festivals and supporting businesses and shop owners to create a better-connected town centre.
There are now around 120 town centre BIDs in the country. A vote is currently underway to decide on the creation of a BID in Chester city centre.
The Winsford Industrial Estate in Cheshire became the UK's first industrial BID in 2011.
Gaynor Sinar, chairman of the Northwich BID Steering Group, said: "This is the biggest opportunity Northwich town traders have had in 40 years, and it's brilliant that Northwich has taken control and voted to have a say in our future. Northwich can develop in to an exciting destination for consumers, traders, businesses and residents, highlighting the exceptional quality and range of products and services our high streets have to offer."