City Pledges $51M to Garment Industry Amid Controversial Zoning Proposal
(DNAINFO) Maya Rajamani | March 27, 2017 — The city plans to invest millions of dollars in the garment manufacturing industry as part of a “support package” that will include grants for businesses that relocate to Brooklyn.
The Economic Development Corporation on Friday announced a 10-year, $51.3 million plan that aims to “stabilize and strengthen” the “declining” industry currently centered in Midtown.
The package — which is backed by the Council of Fashion Designers of America and the Garment District Alliance — is “the largest investment in this iconic sector in New York City history,” EDC said in a release.
The announcement came two days after representatives from the agency officially unveiled a proposal to lift a rule requiring some building owners in the Special Garment Center District to set aside manufacturing space.