Community Profile

Atlanta, the bustling capital of Georgia, is renowned for its vibrant diversity and rich cultural heritage. With a population of approximately 500,000 in the city proper and over 6 million in the metropolitan area, Atlanta is a melting pot of cultures and industries. The city is characterized by its eclectic mix of neighborhoods, each with its own unique feel and culture, and is famously known for its thriving music scene. Despite its growth and southern charm, Atlanta faces significant economic disparities.

Atlanta holds an enduring reputation as the center of Black political power and Black professional class success. In 1971, Ebony magazine referred to Atlanta as the “Black mecca,” citing the city’s relatively inclusive environment for Black entrepreneurs and politicians (Ebony, 1971). Today, Atlanta is still referred to as the Black mecca, as it houses some of the nation’s most well-known Black educational institutions, has increased its population of the Black middle class, and has been a model of Black mayoral power since the 1970s.

The rise of Black millionaires in the city has gained attention, highlighting Atlanta's role as a hub for Black culture and entrepreneurship. However, this narrative often contrasts sharply with the broader reality of economic challenges faced by the larger Black population. Despite the city’s record economic growth, stubborn racial and economic inequities have persisted. Courting businesses and using extractive economic development practices as the superior growth model has stifled opportunities for all Black residents to succeed economically. Industry leaders in Atlanta include sectors like logistics, media, information technology, and financial services, making it a critical economic hub in the South. Nevertheless, when attention is given to the challenges facing Atlanta’s Black households—more than a third of which have zero or negative net worth—the assumption is that the challenges can be solved by programs focused on financial literacy, job training, and anti-poverty services. While these efforts are critical, they have not fixed Atlanta’s reputation as the number one place for income inequality (Atlanta Wealth Building Initiative, 2022).

Statistics further illustrate the racial wealth gap in Atlanta. About 20% of Black families in Atlanta live below the poverty line, compared to 8% of White families (U.S. Census Bureau, 2023). Given the size of the Black population, one might associate Atlanta with significantly greater Black wealth outcomes compared to other large cities and metros, but this is not the case. In the City of Atlanta alone, the wealth of white households ($238,355) is 46 times more than that of Black households ($5,180).5 This is far worse than the national wealth divide picture. Nationally, the median wealth for white households ($194,043) is 12.5 times more than it is for Black households ($15,499). These figures underscore the systemic barriers that hinder economic mobility for many Black residents, despite the city's overall economic prosperity.

Background and History

Atlanta's history is deeply rooted in its role as a transportation and logistics center, with Hartsfield-Jackson Atlanta International Airport being one of the busiest in the world. The city has a storied past, marked by its significance during the Civil Rights Movement and its ongoing efforts toward racial and economic equality. Despite this, Atlanta has faced challenges such as gentrification, income inequality, and a pronounced racial wealth gap. The need for community-driven economic models has led to the adoption of Community Wealth Building (CWB) strategies aimed at addressing these systemic issues.

Overview of CWB in Atlanta, GA

The motivation behind leveraging Community Wealth Building (CWB) in Atlanta stems from the desire to shift the focus from individual to community wealth. While individual success stories are celebrated, they often overshadow the economic struggles faced by the broader community. CWB efforts are happening in many pockets within Atlanta, but the creation of the Atlanta Wealth Building Initiative (AWBI) in 2017 aims to systemize and synergize those efforts.

AWBI's formation was influenced by early conversations and advising from The Democracy Collaborative (TDC) and exchanges with similar initiatives in Cleveland and Richmond. These interactions helped shape AWBI’s approach and strategies. As an intermediary, AWBI coordinates and connects various actors across different scales of the ecosystem, fostering a collaborative effort to promote community wealth.

AWBI supports CWB work through a multifaceted approach that includes research, movement building, infrastructure and capacity building, and policy recommendations. By conducting in-depth research, AWBI identifies key areas of need and opportunity within the community. Their connection efforts link local organizations, businesses, and stakeholders, creating a network of support and resources. Capacity building initiatives empower organizations with the skills and tools needed to drive economic development. CWB in Atlanta has a strong focus on  racial equity, emphasizing the need for systemic and structural change to address the racial wealth gap and build a just economy for all Atlantans. Key pillars of CWB activities include worker cooperatives, access to capital, and land ownership. 

Research data highlights that Black families have lost an estimated $1 billion due to issues like clouded land titles and heirs' property, underscoring the urgency of addressing land ownership rights. Notable successes include the Pecan Milk Cooperative and The Guild's significant achievements, which have helped showcase the power and potential of CWB activities in place. 

Just Use of Land and Property

The Guild is committed to building spaces for social change by developing community-owned models of land, housing, and real estate. They focus on reimagining real estate development to foster community wealth and resilience. The Guild’s entrepreneurship programs work synergistically with their real estate strategy, providing a pipeline of viable small businesses that might otherwise be displaced. Their work is rooted in the belief that there is an alternative economic development model where more people, especially those marginalized and excluded from current systems, can own and govern more of the assets that make communities vibrant.

A significant initiative by The Guild is the development of Community Land Trusts (CLTs), with The People’s Community Land Trust (PCLT) being a notable example. Anchored by The Guild, Housing Justice League, and the American Friends Service Committee, the PCLT aims to counteract corporate control of Atlanta’s housing stock. It seeks to remove housing from the speculative market, providing stable, affordable options for households at risk of displacement.

A flagship project at 918 Dill Avenue will be Atlanta’s first mixed-use community-owned property. It will feature 18 new rental units and a ground floor retrofitted with a locally-sourced grocery and shared kitchen space for emerging Black and brown restaurateurs. This development, governed by a Community Stewardship Trust, ensures community control and offers permanently affordable housing, with units priced between 60%-80% of the Area Median Income (AMI).

In 2019, AWBI supported The Guild's efforts by providing a one-year grant for the Community Wealth Building Business Accelerator, designed for minority-owned small businesses aiming to establish or maintain brick-and-mortar retail locations in Atlanta. AWBI will also back The Guild’s Community Wealth Building Accelerator at Pittsburgh Yards, assisting 40 Black-owned businesses through commercial real estate purchasing, leasing, and management workshops, as well as introducing new economic models.

Inclusive and Democratic Enterprises 

Since 2018, the Atlanta Wealth Building Initiative (AWBI) has invested over $2 million in exploratory and planning grants to support its partners in advancing community wealth building as a primary economic strategy, particularly through the growth of Black-owned businesses. These grants typically range from $10,000 to $40,000 (Atlanta Wealth Building Initiative).

Progressive Procurement 

AWBI has joined forces with IBEX IT Consultants to craft a cutting-edge procurement training program tailored for business-serving organizations seeking to either build upon existing initiatives or fortify their current curricula. Procure Forward 2024 stands as AWBI’s driving force for strengthening contracting capabilities. The IBEX team meticulously designed the procurement training in close collaboration with both public and private procurement officers. Post-training development, participants will partake in a series of innovative hybrid training sessions and engaging in-person roundtable discussions, delving into the latest industry trends. This comprehensive curriculum is set to empower 12 Business Serving Organizations (BSOs) and 25 businesses. Notable BSOs include the Urban League, Morehouse Entrepreneurship Center, Georgia Microenterprise Network, Emory Business Accelerator, and many more.

Challenges & Opportunities 

Advancing CWB in Atlanta is not without its challenges. Resource constraints and infrastructure limitations often hinder progress. While there is a stated desire for collaboration, a scarcity mindset fueled by competitive funding can lead to siloed efforts. The dichotomy between urban Atlanta and rural Georgia ("Two Georgias") presents additional barriers, as support structures available in the metro area may not be accessible in rural parts. Educational efforts are needed to develop a narrative around CWB that builds trust and encourages collaboration. Hidden trauma among Black residents trying to build wealth also affects trust levels and the willingness to work collectively.

In the next year, Atlanta's Community Wealth Building (CWB) efforts will focus on learning, observing, and evaluating what works. Piloting initiatives in the cooperative space and making targeted investments will be key priorities. There will be an emphasis on helping people define, measure, and evaluate success in CWB projects. Additionally, keeping a close watch on the political climate and the responses from organizations and businesses will be crucial in navigating the path forward.

Earlier efforts of AWBI through its Community of Practice connected local endeavors to a broader infrastructure of wealth-building efforts across the USA, particularly in the South. The partners in this network aimed to create a conscious movement, making collective efforts more impactful than individual ones. By facilitating connections and encouraging collaborations, AWBI aimed to amplify the impact of local CWB projects and promote a unified strategy for community wealth building. The knowledge gained from the Community of Practice has influenced the development of infrastructure and ecosystem building, thus shaping the future.

The work of AWBI is informed by and conducted in partnership with practitioners and the community. Beginning in 2017, AWBI, The Annie E. Casey Foundation’s Atlanta Civic Site, The Kendeda Fund, and Prosperity Now identified organizations to participate in a Community of Practice (CoP) after facilitating several stakeholder interviews. The CoP was tasked with shaping recommendations for a more vibrant entrepreneurial ecosystem to support African American businesses in building community wealth. Over the course of six months in 2017, the CoP convened for multiple conversations facilitated by Prosperity Now, focusing on identifying key challenges and solutions for African American entrepreneurs. Following its initial convening, the Community of Practice continues to meet, focusing on systems change and collaborations that enhance collective action, strengthening local economies, and catalyzing AWBI’s thought leadership and movement-building strategies.

Community Stakeholders:

• Kim Addie, VP of Strategy and Impact at the Atlanta CWB Initiative, kaddie@atlantawealthbuilding.org

• William Green, Senior Program Associate, wgreen@atlantawealthbuilding.org

• Nikishka Iyengar, Founder & CEO at The Guild, LinkedIn

Additional Resources:

• Building a Beloved Economy: A Baseline and Framework for Building Black Wealth in Atlanta

• AWBI 2023 Annual Report

• Black Wealth Unlocked Podcast