Funded by the Robert Wood Johnson Foundation, the initiative aims to tackle racial wealth gaps in eight selected small and mid-sized American cities by providing each with $100,000 in funding

The Regional Inclusive Growth Network (RIGN) was reportedly officially launched by Brookings Metro and the Center for Economic Inclusion on October 11, 2023, according to a press release that was issued on that day. According to the press release, Interim Vice President and Director of Brookings Metro Alan Berube emphasized how important it is to establish ties with organizations that operate across a variety of fields. "We've learned that success requires building multi-sector coalitions that can marshal collective commitment, capacity, and investment to achieve equitable development at a meaningful scale," as stated by the investigator.

According to a press statement that was distributed by Brookings Metro, the eight coalitions, whose locations range from Akron to New Orleans, will work in conjunction with one another over the course of the following 18 months to promote policies and practices that are supportive of fair economic growth. The Racial Equity Dividends Index, which is compiled by the Center for Economic Inclusion, will be selected as the key statistic that will be utilized.

Tawanna A. Black, the founder and CEO of the Center for Economic Inclusion, offered some commentary in which she emphasized the wider economic benefits that the initiative brings. Black's comments may be seen here. "By giving business leaders and policymakers the tools to do so, we can dramatically widen pathways to economic mobility for all people and improve regional economic growth and competitiveness," according to the investigator's findings.

In a nutshell, according to a press statement that was distributed by Brookings Metro, the ultimate purpose of the alliance is to "catalyze change" and "build more equitable economies" in the aforementioned eight different locations.