New York is always updated with the latest fashion. No wonder the $55 billion fashion industry in this city will get additional six projects from the government to ensure that grown is in place. These projects were announced by Deputy Mayor for Economic Development Robert K. Steel on Tuesday.

The programs will reportedly focus on the production financing wherein emerging fashion designers will have the opportunity to showcase their work and even improve their craft with advanced business training.

A retail competition will be set in place wherein the winner gets the chance to have the top mentoring and support to executive his or her store concept.

Brands, including lingerie companies have seen great success with their ranges is the Big Apple; with products such as Freya, Panache, and Fantasie Bras doing particularly well.

In a statement, New York Mayor Michael Bloomberg said that the city is the fashion capital of the world and the factors that made the city as such have encouraged competition from other leading fashion cities and that encourages him to come up with better projects for the industry.