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.

ECONOMIC REPORT On an annual basis, the FCBID publishes an economic profile of the Fashion District and the fashion industry. The Year 2005 profile represents the tenth economic report compiled by the FCBID, and reflects the changes in the composition of the Fash-ion District and its real estate. An update on the retail environment is presented in this year’s report, including an analysis of the available retail potential and its prob-able impact on the ability to attract quality retailers to the area. Additionally, the report discusses the potential impact of the recent Hudson Yards re-zoning which has the ability to add a large residential population to both the district and its retail area of influence. The Economic Profile may be accessed in its entirety by visiting the FCBID website at www.fashioncenter.com.

TOOLS OF THE TRADE More than 50 people attended each of the Tools of the Trade for Artists seminars that the FCBID sponsored in Fall 2005 in conjunction with the Elizabeth Foundation for the Arts and the Enterprise Center at FIT. Tools of the Trade is a highly successful small business seminar program, now in its third year, which, for the first time in 2005, offered courses specifi-cally for artists. Both Tool of the Trade small business and artists seminar programs were offered again in Spring 2006.

BROKERS’ PROGRAM In May 2005, the FCBID hosted its second retail brokers’ luncheon to promote retail potential on and around Eighth Avenue. The event was held in newly renovated space at 264 West 40th Street, a building owned by Kenneth Fischel of Renaissance Properties that overlooks Eighth Avenue and the new New York Times building. Over 80 retail brokers attended the event, which was so popular that many who had not reserved a place had to be turned away at the door.

Speakers at the luncheon included Carrol Bennett from the Port Authority of New York and New Jersey and Mary Anne Gilmartin from Forest City Ratner, both of whom spoke about their commitments to the future of Eighth Avenue. Each described her company’s investment in the area and why Eighth Avenue and the Fashion District present exciting opportunities for development projects.

At the brokers’ luncheon, the FCBID displayed photos of the Fashion District’s beautiful buildings and details.

FCBID Executive Director Barbara Blair Randall described the progress that is being made in the Fashion District in general and specifically around Eighth Avenue. To further illustrate the fact that there is more to the area than people may realize, the FCBID displayed photographs of beautiful lobbies and architectural details on and around Eighth Avenue. An article on the event appeared in Real Estate Weekly and led in part to an article in the Sunday, June 12th New York Times Real Estate section. Women’s Wear Daily also did a story following the event.

GARMENT DISTRICT ZONING Throughout the 2005-2006 fiscal year, the issue of the special garment center zoning continued to be a topic of great interest to Fashion District property owners and tenants. This year the city began stricter enforcement of the zoning, which requires most side street properties to maintain a 50 % fashion related tenancy, and property owners are feeling the burden of these restrictions as the numbers of garment businesses continues to shrink. Since being adopted in 1986, these restrictions have suppressed property values and limited the economic potential of the Fashion District. Similarly, the special zoning has failed in its intention to retain gar-ment manufacturing, an historically important source of employment for New York City.

For many years, the FCBID has been in talks with the city, REBNY, and labor representatives regarding these issues. The FCBID also published a detailed analysis of the zoning in 2003. The FCBID advocates for a change in the zoning which would allow the Fashion District to reach its potential, coupled with more meaningful and effective economic policies to assist the garment indus-try. The FCBID will continue to keep the spotlight on this important issue and will seek ways to foster a meaningful dialogue among all affected parties.

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