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How New York City Plans on Funding Local Fashion

Driely S.
Driely S.

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At the launch of Made Fashion Week—the last one ever—on Wednesday, fashion-friendly Mayor Bill de Blasio kicked things off by announcing a $15 million investment in local fashion initiatives. That's tripling what the city has previously put in, according to WWD.

"We know we can do more, and we want this industry to grow," de Blasio said to a crowd that included Diane von Furstenberg, Nanette Lepore, Andrew Rosen, and Stacey Bendet. "We want to give more opportunity [to] people who haven't had economic chances, and we want it to be all over the five boroughs. When you believe in something, you invest in it."

That money will largely go into public-private partnerships that are directed by the New York City Economic Development Corp., some of which are already underway. Below, we've outlined the most significant ways the city will be spending the latest funding.

· $1 million will be set aside to fund both internships at fashion companies for local high school and college students and scholarships to those looking to study a fashion-related field at a local school.

· An annual "Production Summit" will be set up to help designers connect with local manufacturers and to help those in the industry keep up with best practices and the latest technology. Additionally, $5 million has been set aside to updating local production facilities with new equipment and employee training.

· The city launched a website to help keep the local industry connected with the latest news and events.

· A "Made in NY" awards program will be launched within a year to fund a local designer who shows promise.

· $4 million will go towards creating exposure for local designers through partnerships and branded "Made in NY" pop-up shops in places like flea markets and Grand Central Terminal kiosks.