New York governor Kathy Hochul introduced Thursday a brand new grant programme aimed toward fostering sustainability and innovation within the state’s vogue trade.
New York state’s Trend Innovation Heart will dole out as much as $10,000 in funding to assist start-ups, farmers and researchers of their efforts to develop new supplies, manufacturing applied sciences and agricultural processes. Awardees may even obtain mentorship from consultants of their industries in addition to entry to sources and gear to speed up their initiatives.
”Nothing is extra synonymous with New York than vogue, and this trade generates greater than $25 billion a yr in wages for hardworking New Yorkers,” Hochul mentioned in an announcement. “With these grants although the Trend Innovation Heart, we’re working collectively to advance modern options and construct a extra sustainable trade.”
The initiative is an element of a bigger technique by the state to revitalise the style trade by encouraging the expansion of a New York-based provide chain as a way to construct a “sustainable and inexperienced economic system,” mentioned Hope Knight, president, chief government and commissioner of New York state’s financial improvement company. In 2022, Hochul introduced $10 million in state funding for the Trend Innovation Heart to advertise state-produced textiles.
In response to a current McKinsey report, New York’s vogue trade now employs 50,000 fewer folks than a decade in the past, with “declines of 30 to 50 % in attire and textile manufacturing jobs.”
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Is This the Yr New York Regulates Trend?
Two landmark payments taking intention on the trade’s environmental and social impression — the New York Trend Act and the Trend Staff Act — are again on the US state’s legislative agenda.
