Garment District Factories Would ‘Rather Shut Down’ Than Move, Survey Says
(DNAINFO) Maya Rajamani | August 6, 2017 — A majority of manufacturers with factories in the Garment District would “rather shut down” than move out of the area, a new survey found.
The nonprofit arm of the Garment Center Supplier Association — a trade organization focused on protecting manufacturing in the city — surveyed 413 Garment District-based factory owners and conducted in-depth interviews with 157 of those, in light of the city’s plan to rezone the district and encourage businesses to relocate to Brooklyn.
Of the 157 owners surveyed, a whopping 88 percent said leaving the district and moving elsewhere was “not an option.”
“Most said they would rather shut down than move their businesses away from customers and workers,” the survey said.
Many of the owners surveyed are on short-term leases, the survey found.
Ninety-six percent of survey respondents said their factories had less than five years remaining on their leases, while 67 percent said they had less than two years remaining. Only 4 percent said they had five or more years remaining on their leases.
The results showed the need for “real estate stability” in the district, GCSA Foundationboard member Gabrielle Ferrara explained.
“There’s a really vibrant ecosystem here, and it’s prime for innovation and growth, but without real estate security, these factories aren’t going to be able to invest in that innovation and growth,” she said.
When the city presented its tentative plans to Garment District stakeholders at a meeting in March, many attendees said they felt the changes would “devastate” the industry.