KEY TAKEAWAYS:
- State commits up to $50M to support G-Unit’s Shreveport expansion
- Project includes studio renovations and a new G-Dome venue
- Investment tied to production and spending targets over five years
- Officials cite long-term economic and downtown revitalization impact
Curtis “50 Cent” Jackson’s $124 million plan to make Shreveport a hub for the film and entertainment industry has received a financial commitment from the state.
Louisiana Economic Development on Monday announced a cooperative endeavor agreement with G-Unit Film & Television, Jackson’s production company that began operating in the city in 2024. Under the performance-based contract, the state will reimburse G-Unit up to $50 million to redevelop three entertainment venues in the city. G-Unit has committed to spending $74 million.
Most of the state funding will be used to renovate two city-owned properties that G-Unit is leasing: Stageworks and the Millennium Studios campus, renamed G-Stage and G-Unit Studios, respectively. The remaining money will be earmarked for construction of his “G-Dome,” a dome-style event venue his company will own.
Jackson, a native of New York City who created G-Unit Film & Television in 2003, produces content for Fox Entertainment, Fox News, Hulu, Netflix, Starz and BET+.
He showed interest in Shreveport in 2023 when he was seen touring Millennium Studios, purchased by the city to lure large-scale film and TV production to the area. The city council approved an agreement with him later that year to lease the facility.
He has since purchased multiple downtown buildings and has invested in large-scale entertainment events in the area, including the Humor & Harmony Festival. Jackson has said he intends to turn northwest Louisiana into a premier destination for film, music and live entertainment on a national scale.
Louisiana offers generous tax credits that can lower production companies’ costs significantly.
The state said its investment in G-Unit will be overseen by elected leaders and appointed members of the recently-created Shreveport Film & Entertainment Economic Development Corporation. Members include Louisiana Economic Development Secretary Susan Bourgeois, or her designee; two appointees of Gov. Jeff Landry, Grant Nuckolls and Kyle Ruckert; and state Sen. Sam Jenkins of Shreveport and Rep. Jack McFarland of Winnfield. A separate local entity, the Film & Entertainment Gateway Economic District, will assist with oversight.
The agreement includes production targets for G-Unit to meet over five years, according to Wade Marshall, film and entertainment commissioner for northwest Louisiana.
G-Unit is expected to host a minimum of two films or concerts with a budget totaling $5 million in the first year; by year five, the requirement increases to eight productions, with a combined budget of $25 million.
“This is a way to get things turned around and see a brand new downtown Shreveport,” Marshall said. “This is sustained spending that is built for the future.”
Marshall described the potential economic impact as a domino effect, citing local hiring, the purchase of lumber and other building materials and increased visits to restaurants and hotels.
“There was literally $50 to $100 million a year being spent here after (Hurricane) Katrina, which had people calling us Hollywood South,” he said “Back then, Louisiana was one of a few states with a tax incentive. Because of the storm, (the film industry) needed to find a place in Louisiana to take advantage of that tax credit.”
Most states now offer similar incentives, he added.
“Our area is filled with (an independent film community) always yearning to create content, and this is giving them an opportunity to stay in this area, building a life here in a profession that they love to do and not have to go to other markets,” Marshall said.
‘ The preceding article may include information circulated by third parties ’
‘ Some details of this article were extracted from the following source neworleanscitybusiness.com ’
