A SCHEME to breathe new life into a town centre has been give the go ahead.

Stockton Borough Council’s cabinet has approved a proposal to offer a new discount business rates scheme for potential retailers in the town.

The initiative, which is being developed alongside Stockton town centre's multi-million regeneration, is designed to encourage new businesses to occupy vacant units in Stockton.

Subject to funding being approved as part of the 2013/14 budget report, the scheme will be introduced in April 2013.

Councillor Mike Smith, Stockton Council's cabinet member for regeneration and transport, said: “Stockton town centre’s improving economic performance is a key priority for us. New businesses, shops and eateries will bring jobs and a real boost for the area. More retailers will attract more shoppers and increase the support for existing businesses.

"We already organise world class events in the town to draw visitors, now we need to ensure there is plenty for them to enjoy when they come to Stockton.”

The new business rate scheme would include all vacant units in the main shopping areas of the town and will apply to professional service companies, retail outlets, restaurants, cafes and offices.

All sizes of unit would be applicable for the discount as long as the premises included the ground floor in keeping with the Council’s plan to transform the main shopping area.

The authority anticipates around 35 businesses are likely to benefit from the scheme over a two year period.