Kirsten Gillibrand All Ears at F.I.T. Meeting
Protecting intellectual property, securing financing for small businesses and bolstering New York manufacturing were a few of the topics discussed Monday at a Kirsten Gillibrand-led roundtable discussion.
Elie Tahari, Nanette Lepore, Rachel Roy, Adam Lippes, Lisa Mayock, Maria Cornejo, Prabal Gurung, Yeohlee Teng and Lisa Perry were among the 45 attendees who shared their industry concerns with the junior senator from New York. Retailers, manufacturers and other insiders were also in on the closed-door gathering at the Fashion Institute of Technology, which was co-hosted by the school’s president, Joyce Brown. Gillibrand got the conversation rolling by airing some of her fashion-related initiatives and then was pretty much all ears, according to a few attendees.
Reached afterward, Council of Fashion Designers of America executive director Steven Kolb, another guest, said, “She’s a very earnest senator. She organized this and I give her a lot of kudos for that. She took copious notes. She realizes the importance the fashion industry has on New York’s economy. She didn’t dismiss things that were local.”
For her part, Gillibrand noted the industry employs more than 175,000 people, generating more than $10 billion in wages and more than $1.6 billion in tax revenues. Well aware that New York City is the primary headquarters for 800-plus fashion companies, she said, “We know that future growth of this industry is fragile. In this difficult economy, my first priority is focusing on economic growth and job creation.”
Noting how she co-sponsored the Design Protection and Piracy Prevention Act, which will be reintroduced to the new Congress, Gillibrand said she knows through conversations with designers and CFDA executives that protecting designs from piracy is of utmost importance. That said, she allowed there is room for improvement.
“The bill isn’t perfect; my main criticism is that China, where so much design piracy originates, is exempt from the provisions of the bill,” she told the crowd, adding she will meet with the Chinese ambassador next week to discuss “the urgent issue of piracy.”
Citing the need for tax cuts and access to capital for small businesses — subjects that a few attendees expressed concern about, according to one party — Gillibrand said banks and credit unions must start lending again, so that small businesses can expand and hire. By law, credit unions are required to limit member business lending to 12.25 percent of the credit union’s total assets. The Small Business Lending Enhancement Act, another one of her legislative initiatives, would raise that cap to 25 percent of total assets, and increase the minimum business loan subject to the cap from $50,000 to $250,000.
Gillibrand also promised to lobby for full funding for the Manufacturing Extension Partnership, a program that offers manufacturers, including textile producers, key resources to improve their production systems and promote efficiency, expand their markets and grow their companies.
Afterward, Lepore said, “Today’s meeting was very positive and I am pleased that Sen. Gillibrand has rallied to help preserve manufacturing in New York City. The senator understands the importance of the garment district, especially with regards to the number of jobs we can save and create. There were several tangible ideas and promising initiatives that were discussed today, and I am looking forward to the next steps.”
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