$51.3 Million To Be Invested In NYC Garment District By CFDA, NYCEDC

New York City’s fashion retail still stands as one of the most prominent shopping locations on the planet. Thus, it is fitting that the city itself and the Council for Fashion Designers of America would work to build it up further.

Approximately $51.3 million will be donated between the two organizations in order to “help stabilize and strengthen the garment manufacturing industry in New York City.” On top of multiple associated business costs, these funds will also go towards moving for those willing to relocate to Sunset Park in Brooklyn.

“Since taking office, we’ve invested in every piece of the fashion industry, from a new academic building at FIT, to marketing assistance, to renovating space in city-owned buildings for manufacturers. I’m committed not just to the stability of garment manufacturing, but to its growth,” stated Deputy Mayor Alicia Glen. “There’s a market and a demand for clothes that are Made in New York, and we’re taking bold steps to help firms move to the new space we’ve developed so they can grow and thrive.”

In addition, president of the Garment District Alliance, Barbara Blair, stated that “the future of the apparel industry is dependent upon the sustainability of the fashion ecosystem, and we believe this initiative will help to stabilize the apparel manufacturing sector that has been in decline for many years.”

“This program addresses the many challenges facing manufacturers by offering investment in technology and human capital, as well as options for affordable and modern factory spaces,” added Blair.

With such a massive push of support from the fashion and the city itself, a positive future is on the horizon for New York City’s fashion retail.

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