The mayor plans to launch a massive competition to find 12 up-and-coming designers who'll get to work in a special city-sponsored "incubator," cutting down on new talents' production costs considerably.
Needless to say, one of the single greatests costs incurred by up-and-coming designers is workshop space, and Bloomberg's main goal in conducting the contest is to help the city continue to attract burgeoning fashion talent with the lure of cheap studio space. As the mayor put it: "New York City is the fashion capital of the world, but we're not about to take that for granted."
The "incubator" will be located in the Garment District -- an area that's been facing tough times, becoming a focal point for designers like Nanette Lepore fighting to keep the fashion industry in Manhattan (as opposed to moving production overseas).
According to the Post, the contest kicks off next month and Bloomberg will pick the 12 winners in December.