To increase the competitiveness of companies in the Fashion District, the FCBID regularly conducts or co-sponsors business development seminars for tenants, markets the district to brokers and prospective tenants, and compiles and publicizes statistics which define the district’s economic impact.

Retail Committee Established
The FCBID Retail Committee was formed in June 2004 to help develop strategies for marketing the Fashion District’s retail space. With an employee base of increasing spending power, great transportation access, and some of the highest pedestrian counts in the City, the Fashion District is poised to become an important part of Midtown Manhattan’s retail and restaurant landscape. The Committee determined that the influx of Off-Broadway theaters and artists in recent years will play an important role in redefining the district’s image and marketing the area to new retailers and restaurants.

Brokers Luncheon
On July 27, the FCBID hosted its first retail brokers luncheon to highlight the Fashion District’s assets and promote available retail space. FCBID Board and Retail Committee Member Robert Savitt, owner of 530 Seventh Avenue, co-sponsored the event, which was held in newly vacant ground floor space located in that building. Over 50 retail brokers attended the luncheon, which was catered by the Fashion District’s own Metro Grill. In addition to hearing about available space, brokers received information about the Fashion District.

FCBID Receives US Department of Commerce Award
At its April 2004 Annual Meeting, the FCBID was presented with the US Department of Commerce Award for Achievement in Trade in recognition of its work through the New York Fashion International program and Information Kiosk in promoting U.S. designers to foreign markets and helping companies learn to export.

Tools of the Trade
The FCBID’s Tool of the Trade series, offered in conjunction with the Enterprise Center of FIT, continued this past year. Courses included:

• Accounting Therapy
• How to Manufacture in New York
• What Quota Elimination Means to You
• Reducing Retailer Chargebacks
• Online Retailing for the Wholesale Business

Companies that participate in Tools of the Trade are offered follow-up assistance and are kept informed of other small business opportunities and available resources. Courses are open to any type of small business. Since starting in 2000, hundreds of small businesses have taken part in the Tools of the Trade series.

Artist Seminars
In Fall 2004, SUNY awarded a $50,000 grant to the FIT Enterprise Center and the FCBID to conduct seminars for artists on how to address or develop the business aspects of their trade. FIT and the FCBID will be working with the Elizabeth Foundation for the Arts on developing this new program, which will be similar to the successful “Tools of the Trade” seminar series.

Economic Report
Each fall, the FCBID collects the various facts and figures that define the Fashion District’s economic condition. This information is used by the FCBID to track trends in business tenancy, to promote the district, to fine-tune programs, and to advocate on behalf of the district. The current report is available in its entirety on www.fashioncenter.com, but highlights include the following:

• Total fashion industry employment in the Fashion District represents 29% of total private sector employment
• Retail potential for the district, residential and employee combined, has grown to over $1.2 billion; current retail volume is estimated at just over $600 million
• Space availability dropped in both avenue and side street buildings for a total of approximately 13.2%

Pedestrian Counts
As part of its Economic Report, the FCBID conducted pedestrian counts which indicate that the Fashion District’s ground floor businesses enjoy some of the greatest exposure of anywhere in Manhattan. Each district avenue is counted during the course of the day on both a weekday and weekend. The full reporting numbers and summaries can be found on www.fashioncenter.com/realestate.

Hudson Yards
The proposed Hudson Yards plan fully flanks the west side of the Fashion District and provides for some development within certain sites of the Eighth to Ninth Avenue section of the Fashion District. The FCBID, while it has not taken a position on the proposed stadium, was an early supporter of the proposal to develop the west side and has testified at several hearings in support of the effort. The FCBID continues to work with the City to ensure that the BID area is enhanced, not only as a fashion capitol, a center for arts and culture, and a diverse business and residential community, but also as a gateway to the Hudson Yards.

Zoning
The FCBID takes a proactive stance in approaching the problems of the district, including the investigation of long-term strategies for growth. These will include the feasibility of increasing the potential for a residential population in the neighborhood. This would complement the City’s plan for increasing the potential for residential development between Eighth and Ninth Avenues as part of the Hudson Yards plan, as well as other new buildings such as the successful Atlas building on Sixth Avenue. It is hoped that a residential component would be part of an overall plan to revitalize the neighborhood.

TOP