With all the talk about whether Fashion Week is actually worth it for the industry, New York would certainly be the one to miss it most should it ever disappear (and not just from Lincoln Center). A congressional report led by New York representative Carolyn Maloney found that the city's two fashion weeks rake in an average of $887 million, WWD reports. That's more than last year's Super Bowl, more than the New York City Marathon, and more than two full weeks of the US Open bring in.
"Until I started working on this report, I didn't realize the importance of the fashion industry to our country and New York City," Maloney, a founding member of the Congressional Apparel Manufacturing and Fashion Business Caucus, told the paper. "What I found out blew me away."
That figure includes $547 million that comes directly from visitor spending—including hotel stays, restaurant meals, and cab rides—showing the local fashion industry's wide impact across the city.
"I hope this new report helps reawaken lawmakers and policy makers to understand and appreciate the huge financial impact of the fashion industry," Maloney added. Many of the city's latest fashion and manufacturing initiatives—from Manufacture NY to the Pratt Institute's design accelerator—are currently backed in part by state or federal government funds.