New York City Mayor Michael Bloomberg has confirmed an agreement to move New York City’s bi-annual Mercedes-Benz Fashion Week events from Bryant Park to Damrosch Park at Lincoln Center for Sept. 2010.

The new venue at Damrosch Park will provide approximately 87,000 sq. feet of space, almost a 25% improvement on the roughly 70,000 sq. feet currently available at Bryant Park. Lincoln Center has said it will also open up iconic indoor venues to be used for special events during the shows.

The five-year agreement between IMG Fashion and Lincoln Center, Inc., follows discussions between the City, IMG Fashion and the Council of Fashion Designers of America (CFDA).

Bryant Park currently hosts about 70 fashion shows per season. In 2008, the two annual events drew 232,000 attendees, generating $466 million in direct visitor spending with an overall economic impact of $773 million for the City.

New York City’s fashion industry, meanwhile, provides approximately 175,000 jobs, with more than 800 fashion companies headquartered in the City, double that of Paris.

—Tim Yap