New York City has a reputation as being one of the major fashion capitals of the world, and the city is taking that reputation one step further.  It was announced this week that the CFDA and New York City will host a contest to find twelve young designers to occupy space within the garment district.  The collaboration will be done in the form of a new 10,000-square-foot fashion incubator located at 209 West 38th Street.  Renting space in this area would normally average $3,000 per month, but this program would reduce it to $1,500; a more manageable rate.  The overall goal of this project is to provide emerging designers with affordable rents, educational and industry support.  Mayor Bloomberg is showing a commitment to the fashion community, and to an industry that has its roots firmly planted here in the city.  Providing this opportunity is a sign to the fashion world that New York City is open for business, and will help to foster new talent.

An Incubator for Emerging Fashion Designers [City Room/NYT]