The Coliseum Central Business Improvement District (BID) is a special service-taxing district authorized under Virginia Commonwealth Law. It was formed by action of the Hampton City Council in 1996 and has been subsequently renewed three times, with its next renewal in 2021. It encompasses over 1,900 commercial acres and represents over 650 Hampton, Virginia property owners and businesses. Coliseum Central is located at the intersection of I-64 and I-664 and is situated halfway between Williamsburg and Virginia Beach.

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Coliseum Central gets its funding from a surtax on the property taxes of commercial properties within the boundaries of the BID. Local property owners pay .07 cents per 100 dollars of their assessed valuation to fund the operations of Coliseum Central. This "surtax" funding is matched on a dollar for dollar basis by the City of Hampton, and these two sources of funds account for most of the revenues of the BID. The BID also received other revenues from event sponsorships, from contracted contributions to certain programs and from other sources.

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Coliseum Central uses its revenues to fund a number of projects, programs and initiatives that are designed to enhance and improve the Coliseum Central District. These include enhancement and improvement efforts related to upgrading the physical appearance of the District, enhancement and improvement efforts related to improving the level of safety and security of the District, and enhancement and improvement efforts related to the marketing and promotion of the District.