Garment factories get city bucks to rent real estate

New York /
Sep.September 04, 2013 01:45 PM

Hard, cold cash is on the way for garment manufacturers that need a little help with their operations, including renting real estate.

A new program called the Fashion Manufacturing Initiative will award grants that factories can spend on equipment and worker training. The money will go only to plants that are at least two years old. The deadline for applying for the aid is Nov. 1. Right now, the project has $1.5 million to give away.

The funds are from the city’s Economic Development Corporation, which is sponsoring the initiative along with the Council of Fashion Designers of America and Andrew Rosen, chief executive of designer brand Theory, Crain’s reported.

The program is not intended to alter rezoning plans in the Garment District.

Many designers are frustrated over the lack of modern updates in factories citywide, Barbara Blair Randall, president of the Fashion Center Business Improvement District, told the publication. [Crain’s]Mark Maurer


Related Articles

arrow_forward_ios
Joseph DePaolo, chief executive officer, Signature Bank in front of 1400 Broadway in Manhattan (Signature Bank, LoopNet, iStock/Illustration by Steven Dilakian for The Real Deal)
Signature Bank doubles down on ESRT’s 1400 Broadway
Signature Bank doubles down on ESRT’s 1400 Broadway
29 West 34th Street and Jeff Sutton of Wharton Properties (Google Maps)
Jeff Sutton will get $9M back from Geox
Jeff Sutton will get $9M back from Geox
Garment District office tower gets $148M refi
Garment District office tower gets $148M refi
Garment District office tower gets $148M refi
Sam Chang and 525 Eighth Avenue
Sam Chang unloads Garment District hotel
Sam Chang unloads Garment District hotel
546 Broadway (Google Maps)
Uniqlo buys 546 Broadway from Isaac Chetrit
Uniqlo buys 546 Broadway from Isaac Chetrit
The building is near Herald Square and Penn Station. (Google Maps)
NYC sues Garment District landlord over tenant’s alleged prostitution activity
NYC sues Garment District landlord over tenant’s alleged prostitution activity
338 West 39th Street and Sam Chang (Photo via Google Maps)
Sam Chang sells Garment District hotel site for $32M
Sam Chang sells Garment District hotel site for $32M
Savanna’s Chris Schlank and Nick Bienstock with 1375 Broadway (Credit: Google Maps)
Savanna closes on Garment District office with $388M loan
Savanna closes on Garment District office with $388M loan
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...