The city of New York has unveiled plans to invest 3.5 million dollars (2.23 million pounds) in a new fashion epicenter in Brooklyn, named the Manufacturing Innovation Hub for Apparel, Textiles and Wearable Tech.

The facility aims to boost local manufacturing, create new jobs and offer support to emerging designers. The new 160,000 square foot building will be situated in the privately held Liberty View Industrial Plaza in Sunset Park.

To help encourage design research, manufacturing and development of New York's up and coming designers, the city through its Economic Development Corp. will give 3.5 million dollars for the creation of the facility, with a total of 8 million dollars available through IMOD, according to WWD.

Construction of the new facility is predicted to begin by the start of New York Fashion Week next February, with Ole Sondresen Architect overseeing the nine month long redesign. The facility is set to accommodate between 20 to 30 businesses as well as up to 50 designers. From the total amount of space available, 110,000 square-feet is set to be dedicated to active manufacturing.

The new fashion facility is believed to create roughly 300 jobs and offer a variety of services, including a research and development center for innovative fashion and wearable technology capabilities, a workforce development center, a small factory specializing in sample-making, a design accelerator, and an incubator space housing 12 private studios, classrooms, conference rooms, a computer lab and an industrial sewing room with work areas for up to 50 designers.

The Manufacturing Innovation Hub for Apparel, Textiles and Wearable Tech extends from New York's current array of fashion initiatives, as the industry accounts for close to 6 percent of the city's workforce and generates almost 2 billion dollars in tax revenue each year.