The New York City Economic Development Corporation (NYCEDC), in collaboration with the Council of Fashion Designers of America (CFDA) and the Garment District Alliance, has announced that it will invest a package worth US $ 51.3 million to help stabilize and strengthen the garment manufacturing industry in New York City.
As per the collaboration, the investment will cover technology, business technical assistance and workforce development that will be made available to factories in the five boroughs. Additionally, relocation and expansion support will also be available for companies interested in moving out of the Garment District – the Fashion Centre and a neighbourhood located in the borough of Manhattan in New York City.
Deputy Mayor of the New York City, Alicia Glen, commented, “I’m committed not just to the stability of garment manufacturing, but to its growth. 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.”
Also, the specifics of the plan include grants for investment in new machinery and technology to improve competitiveness globally, training and support for workers and technical assistance and grants to cover relocation from the Garment Centre to Sunset Park in Brooklyn.
Steven Kolb, CEO, CFDA, said the investment will strengthen the sector for the future. He added, “We see this as an opportunity to make the eco-system of production more city-wide at a time when the fashion industry is in need of a capital investment.”
This new package was revealed one day after the NYCEDC held its first public unveiling on rezoning within the Garment District and asked for further comment from all interested parties.
Barbara Blair, President, Garment District Allianceb, underlined, “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. And we believe this initiative will help to stabilize the apparel manufacturing sector that has been in decline for many years.”