NYCEDC and CFDA investing 51.3 million dollars into Garment District

Today, March 24, the New York City Economic Development Corporation (NYCEDC) and the Council of Fashion Designers of America (CFDA) will reveal their plan to invest 51.3 million dollars into the Garment District to help “help stabilize and strengthen the garment manufacturing industry in New York City.”

The investment includes technology, business technical assistance and workforce development that will be available to factories in all five boroughs of New York. Additionally, it will provide support to companies moving out of the Garment District.

Garment District to get 51.3 million dollar investment

As Fashion United reported, there are plans in the works for firms to have the option to eventually move 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,” said Deputy Mayor Alicia Glen in a statement. “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.”

This investment package was revealed less than 24 hours after the NYCEDC held its first public unveiling on rezoning within the Garment District and asked for further comment from all interested parties.

Changes are coming to the Garment District, but they will hopefully be for the benefit of manufacturers and growth in New York's apparel industry.

photo:via garmentdistrictnyc.com