In the city of Atlanta, a child born into poverty has almost no chance of reaching the upper middle class – less than four percent. And more than half of those born into poverty will remain in poverty their entire lives.

THIRTY-SEVEN percent of African American households have a net worth of ZERO, and Atlanta leads the country in economic immobility and income inequality.

But the data is clear: the greatest equalizer of wealth disparity is business ownership. On average, minority business owners have a median net worth TWELVE times higher than those who do not own businesses. To break these dismal cycles, we must create new economic operations.

Launching in 2019, honoring the great legacy and visionary business leadership of Herman J. Russell, The Russell Center for Innovation and Entrepreneurship (RCIE), will be the largest center in the country, driven by community impact, devoted to empowering African American entrepreneurs and small business owners.

The only initiative of its kind in the region, RCIE will be part incubator, part accelerator, part innovation lab and even part museum; changing the narrative by telling the untold and under-told stories of African American entrepreneurs and business leaders of past and present, while offering access to place and space, resources, networks, mentorship, technical assistance and education. Atlanta’s nexus between community, exposure, access and opportunity. Ultimately building a prepared and capable pipeline of entrepreneurial leaders and sustainable businesses that will raise the collective prosperity of Atlanta—just as Mr. Russell did in so many ways.

In the heart of one of Atlanta’s Opportunity Zones, RCIE will house over 50,000 SF of affordable coworking, convening, meeting and makerspace; along with a robust offering of educational, mentoring, networking, and capital resources; dedicated to inspiring ideas, creating jobs, scaling companies, and increasing wealth in the community.