SHREVEPORT, La. — G-Unit Film & Television Louisiana, LLC said Monday it will invest over $124 million in a multi-phase initiative to develop three entertainment industry-related venues in Northwest Louisiana, revitalizing existing assets back into commerce and supporting the growth of the state’s entertainment industry.
The announcement came after the Film & Entertainment Gateway Economic Development District, which is comprised of City Council members, met for less than 5 minutes to vote unanimously to enter into a cooperative endeavor agreement with the Louisiana Economic Development, Shreveport Film & Entertainment Economic Development Corporation and G-Unit Film & Television Louisiana.
The move is a major step in the city’s efforts to attract large-scale media and entertainment ventures to northwest Louisiana.
According to an independent economic impact study commissioned by G-Unit, the project is expected to generate an economic impact of $18.8 billion and support more than 6,000 jobs statewide, as well as $300 million in wages over the next 20 years.
“North Louisiana is on the rise, and we’re thrilled to welcome yet another project that sees the strength, talent and potential of this region,” Gov. Jeff Landry said in a welcome video. “Over the past two years, my administration has worked to build the most competitive business environment in the country, and this announcement is another clear sign that our momentum is real and that our wins span every corner of the state and every industry.”
The project includes the renovation of the former Stageworks facility to support a variety of live event and production entertainment uses, the modernization of the former Millennium Studios campus to enhance production capabilities and the construction of a dome-style immersive venue and green space park—all located within downtown Shreveport.
These improvements will drive economic growth, tourism and expand the region’s ability to support film and television production, digital media work and large-scale entertainment events, according to LED.
“This project is the realization of the long-term commitment I have made to the City of Shreveport and the State of Louisiana,” said Curtis “50 Cent” Jackson in a statement. “By reinvesting in downtown Shreveport and upgrading existing assets to create state-of-the-art entertainment and production facilities, we are creating jobs, inspiring hope, attracting new productions, and giving the entire entertainment industry a reason to build their futures right here. My goal is to turn Northwest Louisiana into the premier destination for film, music, and live entertainment on a national scale. All Roads Lead to Shreveport.”
G-Unit is wholly owned by Curtis “50 Cent” Jackson and has expanded its activity in the Shreveport-Bossier area as part of broader efforts to grow motion picture production and other entertainment endeavors in Louisiana. The company’s work is the result of ongoing collaboration with state and local partners to advance this redevelopment effort and support the region’s growing economy.
“Northwest Louisiana continues to demonstrate its position as a center for creative and economic opportunity,” LED Secretary Susan B. Bourgeois said. “Revitalizing these facilities will generate new entertainment industry opportunities including motion picture production, new jobs and new investment across the region while strengthening the resources available to companies and talent across Louisiana’s entertainment industry.”
As part of the state’s commitment, Louisiana Economic Development has entered into a Cooperative Endeavor Agreement to provide up to $50 million in performance-based funding for eligible infrastructure and modernization improvements at the three project sites. The agreement ensures that state support is tied to economic impact, local business engagement and delivery of infrastructure improvements.
The Shreveport Film & Entertainment Economic Development Corporation was established to work alongside LED in providing oversight and accountability for this project and the associated state funds. Its Board of Directors includes:
● Secretary Susan Bourgeois (or designee)
● Grant Nuckolls (governor’s appointee)
● Kyle Ruckert (governor’s appointee)
● Sen. Sam Jenkins (Senate president’s appointee)
● Rep. Jack McFarland (House speaker’s appointee)
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‘ Some details of this article were extracted from the following source www.ktbs.com ’
