You don’t have to work in fashion to recognize when Fashion Week comes to New York.
Suddenly cabs are harder to come by, there’s a velvet rope outside of every event venue and the girl sitting next to you on your morning subway commute may very well be a runway model. But what many don’t realize is the influx of capital that these eight days mean to the city. Between the cost of production for the shows and the business brought by visitors to restaurants, hotels and salons, the whole ordeal is reported to bring in close to $900 million a year — more than even the Super Bowl or U.S. Open, a recent report revealed.But it doesn’t stop at just the event.
“The fashion industry is a pillar of our economy, employing over 180,000 people and generating billions of dollars in economic impact across the city,” said New York City Economic Development Corporation spokesman Ian Fried.
The city, in turn, is committed to helping the industry thrive.
At the launch of Fashion Week last September, Mayor Bill de Blasio announced three new initiatives created to support the local fashion industry, including the Fashion Production Fund, which to date has issued 11 loans totaling $964,000.
And on Wednesday, the mayor announced updates to the “Made in NY” program, including tripling the city’s current investment from $5 million to $15 million.
“We are determined to ensure that New York City’s working designers and manufacturers — and those aspiring to join that community — have the support they need to make it in New York City, and continue to grow NYC as the fashion capital of the world,” de Blasio said in a statement.
The recent government support is welcomed among young designers who are able to have more control when working locally. “I’m very picky, so by developing locally it’s much easier to be hands-on,” said Daniel Silverstain, a recent addition to the Council of Fashion Designers of America who showed his collection for the first time last season.
“It’s also great to feel a part of the New York community, and to support these families that are in turn supporting you,” added designer Kaelen Haworth.