NYC Mayor Bill de Blasio has just revealed another major initiative for the community, this time benefiting the city’s lucrative fashion industry, which he has consistently supported since taking office.
During the first day of NYFW, de Blasio took the stage at MADE's kickoff party to announce that the “Made in New York” initiative will increase the fashion industry’s allotment from $5 million to $15 million. This is an exciting investment for sect, as the money will be distributed in the form of grants, paid internships, and new technology training.
"What we really want to emphasize is either designed in New York, made in New York, the person grew up and went to school in New York," said Alicia Glen, the deputy mayor for housing and economic development. "It really is about celebrating and us investing in New York and in the fashion ecosystem as a whole.”
In addition to the allotment increase, the city will also team up with CFDA to assemble the NYC Capsule Collection, which will be comprised of garments that will be sold in the city, manufactured by local factories, and designed by NYC-based creatives. Items from the capsule collection will begin to hit stores as early as fall.
"Fashion is incredibly important to New York City, not just because it helps make us the most creative and exciting city in the world, but because of the hundreds of thousands of jobs and links to economic opportunity it creates," the mayor said in a statement. "We are determined to ensure that New York City’s working designers and manufacturers—and those aspiring to join that community—have the support they need to make it in New York City, and continue to grow NYC as the fashion capital of the world."
This is an excellent move on the city's behalf as the fashion industry has played a pivotal role in its economy. The industry employs 180,000 New York residents, pays about $11 billion in wages, and generates close to $2 billion in annual tax revenue.
[via NY Mag]
