After lamenting the loss of any economic benefits Amazon would have brought to New York City if it had opened a headquarters there, U.S. Rep. Carolyn Maloney wants to make sure that fashion — a vital part of the city’s economy — doesn’t start to leave.
Maloney, who unveiled the U.S. Congress Joint Economic Committee’s report on “The Economic Impact of the Fashion Industry” on Friday, called for a conference between her, the Council of Fashion Designers of America and major fashion houses based in New York to see what politicians can do to keep the industry, which is a big revenue raiser, happy.
“The loss of Amazon and the jobs it would have brought to Long Island City, makes it all the more important that New York City support and continue to develop industries that stimulate our economy and promote job growth,” she said.
“Fashion doesn’t get the attention or support that it should get. It’s an amazing, exciting industry. It employs a lot of people and I think the city should do everything and anything to support this industry and make sure that it stays in New York and expands in New York. I would like to hear from people in the industry on what will make them stay here. What do they need?”
If such a conference materializes, it would be the first time Maloney would have sat down with the city’s fashion industry in this way.
Backing up her claims of how important fashion is to New York City’s economy, the report found that the metro area accounts for more than one in three of the nearly 19,000 fashion designers working in the U.S. What’s more, in 2017, New York City’s fashion industry employed 4.6 percent of its total private sector workforce and generated more than $11.3 billion in wages and $3.2 billion in tax revenue.
And while there have been concerns over big name designers shunning the biannual New York Fashion Week to show in the likes of Paris, New York is still king, according to the report, accounting for more than half of the 521 shows and presentations by the Big Four fashion capitals (New York, London, Milan and Paris) in spring and summer of 2017, the most recent data studied.
This also translates over into the social media world, with New York Fashion Week having nearly 68 percent more followers than its next closest competitor, Paris Fashion Week, while the Instagram hashtag #nyfw had nearly three times as many posts compared to that of #parisfashionweek.