GREENLIGHT: Update On 50 Cent’s G-Unit Studios Future After Crucial State Vote
The City Of Shreveport Has Been On Edge Since A Controversial Vote In The Louisiana Legislature That Put 50's Plans In Jeopardy.
We've been keeping close tabs on what's going on in Shreveport with Curtis "50 Cent" Jackson's G-Unit Studios after the State of Louisiana's plan to revamp its tax code included elimination of a film and tax credit which was one of the driving factors for Jackson to choose "Port City" for his new operation.
After a stressful week of uncertainty, it looks like everything is a go for G-Unit.
After just a few months of being open in Shreveport, 50 Cent's G-Unit Studios, brought excitement all across the Ark-La-Tex region. But a controversial vote to get rid of a $150 million film and tax credit passed the Louisiana House last week put a damper on all the energy.
Louisiana Gov. Jeff Landry is pushing lawmakers to eliminate many tax breaks like the film credit to lower the state’s income tax rate on individuals and businesses.
Currently, the program provides production with up to a 40 percent tax credit on total in-state expenditures. Louisiana was one of the first states to offer the tax credit and now forty other states now offer similar tax breaks to the film industry based on the success of Louisiana’s program.
Last week, the state House of Representatives voted to terminate the incentive effective June 30, 2025 as part of a sweeping tax reform package and in response, hundreds of people jammed the hallways of the state capitol in Baton Rouge on Sunday (Nov. 17) to protest the move, which would threaten thousands of film jobs.
Those tax credits were one of the main reasons 50 Cent brought into Shreveport's "Millennium Studios" in 2023. After a successful "Humor & Harmony" weekend which brought thousands to the city, things were looking up for 50's investment.
Luckily for Jackson and the state's film industry, A Louisiana Senate committee voted Tuesday (Nov. 19) to keep the state’s film tax incentive while reducing the cap on the program from $150 million to $125 million.
After the news was announced, 50 took to his Instagram page and posted "man they had my ass sweating! WTF, we back in action watch." Seemingly excited about the news and eager to get to work.
50 also posted a video to his IG page showing a behind the scenes glimpse into how him and his team pulled of his huge "Humor And Harmony" weekend in less than 90 days time.
It looks like the party and work is back on in Shreveport!
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