New York City's biannual Mercedes-Benz Fashion Week events are moving to the Lincoln Center from September 2010 after outgrowing their current space in Bryant Park.

The new venue at Damrosch Park, which is managed by Lincoln Center, will provide about 87,000 square feet of space - around 25% more than the existing location.

The five-year agreement to stage the event at Lincoln Center marks the end of a 15-year tenure at Bryant Park.

Since 1993, the number of shows has grown from 35 to 70 per season, with the two annual events attracting 232,000 attendees.

New York City Mayor Michael Bloomberg said the move would help ensure the industry's long-term success, and "is more important than ever as we work to retain and create jobs during these difficult times and diversify the City's economy."

New York City's fashion industry provides 175,000 jobs, $1.6bn in annual tax revenue and $10bn in total wages.

More than 800 fashion companies are headquartered in New York City, more than double the number headquartered in Paris, its next closest competitor.