NYCEDC and CFDA name fourth round of grant recipients for the Fashion Manufacturing Initiative
The New York City Economic Development Corporation and the CFDA announced this week the fourth round of grant recipients of the Fashion Manufacturing Initiative (FMI). The seven recipients have been awarded close to $750,000 in FMI grants in this round.
Established in 2013, the FMI is a $6 million public-private grant program designed to support local fashion manufacturing and promote growth in New York City’s fashion industry. The program has awarded $2.3 million in grants to 22 New York City-based fashion production firms to enhance their businesses.
The fourth round of recipients had to be eligible for the grant in order to be selected. The criteria includes being in business for a minimum of two years, being located in one of the five boroughs, being a factory or production facility within the fashion apparel/accessories industry, have support and business from key fashion designers and brands, and have the staff and internal capacity required to accomplish the goals of the applicant.
This year’s grant recipients include HC Contracting, Create-a-Marker, Design Incubator, New York Embroidery Studio, and first time recipients Funtastic Furs, NY Binding Co, and Zoila’s Sample Room. Create-a-Marker and New York Embroidery Studio are two of the first companies to receive grants from the FMI program in 2013-14. New York Embroidery Studio received another grant in the following year with Design Incubator, and HC Contrasting received a grant in the 2015-16 season.
Each company will receive financial awards for equipment, software, infrastructure upgrades, and workforce training to increase business capacity, generate economic growth and create and preserve jobs in New York City.
“As the governing body of American fashion, supporting New York City and domestic manufacturing is a core tenet of our organization,” said Steven Kolb, President and CEO of the CFDA and member of the FMI selection committee. "Over the last four rounds of grant funding, we’ve been able to significantly impact local manufacturers, aiding in the expansion of garment manufacturing, and we are dedicated to continuing the growth of the sector.”
Kolb was one of seven members of the selection committee, alongside Andrew Rosen of Theory and a founding member of the program; Halide Alagoz of Ralph Lauren; Steven Alan; Peter Charles of Coach; Jennifer Giffen of Zero + Maria Cornejo; and Sass Brown of Dubai Institute of Design and Innovation.
Rosen, Ralph Lauren and the Coach Foundation are partners and underwriters of the FMI program. Additional partners include Banana Republic, Barneys New York, Bloomingdales, CIT, ENK, Google, Lisa Perry, Macy’s, Pokémon, Premiere Vision, Rag & Bone, and Rue La La.
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