U.S. Department of Commerce Awards $3 Million To Help Create The Russell Center For Innovation And Entrepreneurship

U.S. DEPARTMENT OF COMMERCE AWARDS $3 MILLION TO HELP CREATE THE RUSSELL CENTER FOR INNOVATION AND ENTREPRENEURSHIP

ATLANTA — On Thursday, January 12, 2017, U.S. Assistant Secretary of Commerce for Economic Development Jay Williams and the Minority Business Development Agency’s National Director Alejandra Y. Castillo will join the Russell family, local business leaders, elected officials and representatives from the Russell Center for Innovation and Entrepreneurship (RCIE) to share the scope of their partnership and discuss next steps regarding readying its new space which was the former headquarters of H.J. Russell & Company for 65 years. RCIE is located in the historic Castleberry Hill neighborhood on the west side of Atlanta and will provide space for more than 100 emerging entrepreneurial companies.

The Economic Development Administration’s $3 million investment will help stimulate economic growth and opportunity in the greater Atlanta area, and align federal government partners with local leaders to deliver comprehensive economic development planning and support to the Obama Administration’s Promise Zone Initiative.

Once completed, the newly designed and renovated space will support long-term disaster recovery efforts by adding economic resiliency to the city of Atlanta through increased economic diversification.

 

WHO:    Jay Williams, U.S. Assistant Secretary of Commerce for Economic Development

Alejandra Y. Castillo, National Director, Minority Business Development Agency

Donata Russell Ross, Founder, RCIE, RCIE Board Member & Chief Executive Officer, Concessions International

H. Jerome Russell, Founder, RCIE, RCIE Board Member & President, H.J. Russell & Company

Dr. Eloisa Klementich, CEcD, President and CEO, Invest Atlanta

WHAT:       Russell Center for Innovation and Entrepreneurship Status Update

WHEN:      Thursday, January 12, 2017 11 a.m. *press should arrive by 10:50 a.m.

WHERE:    Russell Center for Innovation and Entrepreneurship 504 Fair Street Atlanta, Georgia 30313

 

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About the Economic Development Administration
The mission of the U.S. Economic Development Administration (EDA) is to lead the federal economic development agenda by promoting competitiveness and preparing the nation's regions for growth and success in the worldwide economy. An agency within the U.S. Department of Commerce, EDA makes investments in economically distressed communities in order to create jobs for U.S. workers, promote American innovation, and accelerate long-term sustainable economic growth. To learn more about EDA, visit www.eda.gov.

 

About the Russell Center for Innovation and Entrepreneurship

The Russell Center for Innovation and Entrepreneurship (RCIE) is designed to connect the next generation of minority entrepreneurs to the tools and relationships it needs to turn dreams into reality. A 40,000 square-foot world-class business incubator located in Atlanta’s historic Castleberry Hill, RCIE is a collaborative, co-working ecosystem that connects a customized curriculum, corporate experience and venture capital assets with Atlanta’s top talent from communities of color. www.rcie.co.

 

Contacts:        

CJ Epps 202-302-1727 CEpps@EDA.gov

Betsy Helgager Hughes for RCIE 404-771-9793 betsy@blhconsulting.net