September 14, 2022September 14, 2022

New York is investing in the future of fashion

Posted By: investingsignal

New York is investing in the future of fashion.

Gov. Kathy Hochul announced Monday that the state would allocate $10 million in funding for a consortium-led Fashion Innovation Center in an effort to promote sustainable textile development from materials grown in the state, including linen, flax, cotton and hemp.

“As the fashion capital of the world, New York is the perfect fit for cutting-edge solutions to make this booming industry more innovative and more sustainable,” Hochul said. “The Fashion Innovation Center will foster collaboration across fashion, agriculture, and other industries to to reduce our environmental footprint, limit waste and create opportunity across New York State.”

The center will also house a Sustainable Fashion Innovation Center Accelerator for early-stage companies working on promising developments in the field.

According to the governor’s office, the fashion industry produces 1.2 billion tons of greenhouse gas emissions globally each year, more than the aviation and maritime shipping industries combined.

“Agriculture is an important part of New York state’s economy, and as the fashion industry moves to a more sustainable future, we must capitalize on the opportunity to connect the agriculture and fashion industries,” said Hope Knight, head of the Empire State Development, the state’s chief economic development agency.

The EDS is currently searching for consortium members for the Fashion Innovation Center. Members will include experts from universities, farms, the fashion industry and nonprofit organizations.

Hochul’s announcement came on the sixth day of New York Fashion Week, which started Sept. 7 and ends today. The governor attended the Coach fashion show, held in the Basketball City venue on the Lower East Side.

Fashion is a $98 billion industry in New York City, according to a report published in September 2021 by New York Fashion Week co-organizer IMG and Launchmetrics, a brand performance insights firm. Employing more than 6% of the city’s workforce, the industry also generates nearly $11 billion in wages and $2 billion in tax revenue for the state.

The investingsignal.com is not an investment advisor and is not registered with the U.S. Securities and Exchange Commission or the Financial Industry Regulatory Authority. Further, owners, employees, agents or representatives of The investingsignal.com are not acting as investment advisors and might not be registered with the U.S. Securities and Exchange Commission or the Financial Industry Regulatory.

The sender of this email makes no representations or warranties concerning the products, practices or procedures of any company or entity mentioned or recommended in this email, and makes no representations or warranties concerning said company or entity’s compliance with applicable laws and regulations, including, but not limited to, regulations promulgated by the SEC or the CFTC. The sender of this email may receive a portion of the proceeds from the sale of any products or services offered by a company or entity mentioned or recommended in this email. The recipient of this email assumes responsibility for conducting its own due diligence on the aforementioned company or entity and assumes full responsibility, and releases the sender from liability, for any purchase or order made from any company or entity mentioned or recommended in this email.

The content on any of The investingsignal.com websites, products or communication is for educational purposes only. Nothing in its products, services, or communications shall be construed as a solicitation and/or recommendation to buy or sell a security. Trading stocks, options and other securities involves risk. The risk of loss in trading securities can be substantial. The risk involved with trading stocks, options and other securities is not suitable for all investors. Prior to buying or selling an option, an investor must evaluate his/her own personal financial situation and consider all relevant risk factors. See: Characteristics and Risks of Standardized Options.

The information presented in this site is not intended to be used as the sole basis of any investment decisions, nor should it be construed as advice designed to meet the investment needs of any particular investor. Nothing in our research constitutes legal, accounting or tax advice or individually tailored investment advice. Our research is prepared for general circulation and has been prepared without regard to the individual financial circumstances and objectives of persons who receive or obtain access to it. Our research is based on sources that we believe to be reliable. However, we do not make any representation or warranty, expressed or implied, as to the accuracy of our research, the completeness, or correctness or make any guarantee or other promise as to any results that may be obtained from using our research. To the maximum extent permitted by law, neither we, any of our affiliates, nor any other person, shall have any liability whatsoever to any person for any loss or expense, whether direct, indirect, consequential, incidental or otherwise, arising from or relating in any way to any use of or reliance on our research or the information contained therein. Some discussions contain forward looking statements which are based on current expectations and differences can be expected. All of our research, including the estimates, opinions and information contained therein, reflects our judgment as of the publication or other dissemination date of the research and is subject to change without notice. Further, we expressly disclaim any responsibility to update such research. Investing involves substantial risk. Past performance is not a guarantee of future results, and a loss of original capital may occur. No one receiving or accessing our research should make any investment decision without first consulting his or her own personal financial advisor and conducting his or her own research and due diligence, including carefully reviewing any applicable prospectuses, press releases, reports and other public filings of the issuer of any securities being considered. None of the information presented should be construed as an offer to sell or buy any particular security. As always, use your best judgment when investing.

Disclaimer: Past performance is no guarantee of future performance. This product is for educational purposes only. Practical application of the products herein are at your own risk and The investingsignal.com, its partners, representatives and employees assume no responsibility or liability for any use or mis-use of the product. Please contact your financial advisor for specific financial advice tailored to your personal circumstances. Any trades shown are hypothetical example and do not represent actual trades. Actual results may differ. Nothing here in constitutes a recommendation respecting the particular security illustrated.

Advertise: Investing Signal is a subsidiary of Darwin Investor Network. Please follow this link to learn more about our advertising options. Learn More