ANN INC., The Estee Lauder Companies Inc., J. Crew, Kate Spade & Company, Macy’s, and Ralph Lauren Corporation team up for a program that will support job growth and underscore NYC’s global leadership in fashion tech
A consortium of fashion retailers today launched a competitive search for the world’s top fashion tech innovators. The New York Fashion Tech Lab (NYFT Lab) is a collaborative effort between major fashion retailers and innovators focused on enabling iteration, validation, and acceleration of technologies that advance the industry. The program is powered by venture-catalyst Springboard Enterprises and the Partnership Fund for New York City, the investment arm of the Partnership for New York City. The Lab is backed by Founding Members; ANN INC., The Estee Lauder Companies Inc., J. Crew, Kate Spade & Company, Macy’s, and Ralph Lauren Corporation.
The Partnership for New York City supports the business tax reform proposals in Governor Cuomo’s Executive Budget, which will make New York more competitive and create good jobs.
We are Losing Good Jobs
Over the past five years, New York City’s $583 billion economy grew steadily, making it the largest city economy in the world. In 2013, the total number of private sector jobs in the city reached 3.5 million—an all-time high—but the story is not entirely positive. Job growth has been limited to the high and low ends of the wage spectrum. The metro region has suffered the loss of more than 100,000 middle wage jobs over the last decade. There are 330,000 unemployed New York City residents looking for work and another 44,000 city residents who have simply given up searching for a job.
First Class of Healthcare Startups Created Over 120 Jobs, Raised $12 Million in Additional Capital, 2 Companies Acquired
“Today the New York eHealth Collaborative (NYeC) and the Partnership Fund for New York City (Partnership Fund) launched the call for applications for the second class of the New York Digital Health Accelerator (NYDHA), a program that is making New York a hub for the emerging digital health technology industry. NYDHA’s inaugural class of eight companies raised $12 million in additional capital and created over 120 jobs.
“Thanks to five years of solid economic growth, New York City has a budget surplus that the Mayor is wisely tapping to replenish the Retiree Health Benefits Trust Fund, as well as maintain essential services. Business will continue to invest in the city and create new jobs, so long as the city remains safe, well-managed and fiscally sound.”