The Council of Fashion Designers of America is working to fund New York-based manufacturers. The council partnered with the New York City Economic Development Corp. to invest nearly 730 thousand dollars into the Fashion Manufacturing Initiative.
Launched by the two parties in 2013, the Fashion Manufacturing Initiative supports local manufacturing and promotes inclusive economic growth within the New York fashion industry. The public-private program provides grants that help recipients increase capabilities in their facilities.
The latest investment is the program's largest thus far. Twelve of the city's factories will benefit from the funding to boost their equipment, software, infrastructure and workforce training, amongst other areas of business. Eight of this year's selected factories are first time recipients of the grant.