Businesses in Scarborough are backing the Yorkshire Coast BID.
The scheme aims to raise £5 million in the next five years to put back into the communities as a way to bring prosperity to the towns along the coast.
The money raised will be used for marketing campaigns and projects to increase footfall.
Businesses in the retail, food and drink, leisure and accommodation sector are currently casting their vote as to whether to adopt the strategy, which will effectively be funded by businesses with a rateable value of £12,000 and above.
In Whitby, business owners and the Town Council have criticised the plan due to its mandatory levy.
However, the scheme has been welcomed in Scarborough.
Businesses have until 5pm on Thursday, 29 November to cast their vote.
Results will be released on Friday.