BIDS ARE OPEN: Unlike the rest of Manhattan, the fashion center gained 4,000 jobs during the past five years, with most of that growth coming from hotels, food-serving businesses and film, visual arts and photo studios. That was one of the highlights in the Fashion center BID’s economic survey of the neighborhood.
The Fashion Center BID — which covers the area from 35th to 41st Streets between Fifth and Ninth Avenues — was the only location that added fashion-related jobs — 1,584 jobs in the last five years. Fashion-related jobs accounted for nearly 49 percent of all jobs within the BID, a 2.3 percent decline. Overall the neighborhood added 2,165 jobs.
Manufacturing continues to be a weak spot, with 2,000 manufacturing jobs being lost in New York City over the past year including 525 in Manhattan. There is now roughly 2.2 million square feet of retail space in the BID, with an average asking rental rate of $89.37 per square feet. The neighborhood’s retail sales are estimated to be upwards of $801 billion.
From 2010 to 2011, the area’s population increased by nearly 27 percent, the average age decreased by almost 3 percent to 32.4 and the per capita income gained almost 16 percent to $61.626.