50 Cent’s G-Unit Studios’ Lease Reveals Commitment To Shreveport Residents

50 Cent is pouring into the Shreveport community according to lease details.

Curtis “50 Cent” Jackson is taking the next step as a mogul with the lease of Millennium Studios in Shreveport, Louisiana. A local news outlet obtained a copy of what’s now named G-Unit Studio’s lease and revealed how the studio intends to support the local community.

According to KLSA, the lease requires ” G-Unit Studios to assist with internships and job training to unemployed and underemployed people in Shreveport as part of the American Rescue Plan.

On Nov. 20, Shreveport’s Mayor, Tom Arceneaux, announced the deal. On the surface, Jackson received the better end of the agreement as he negotiated a yearly rent of $2,400. Mayor Arceneaux, however, believes the deal heavily favors the city’s residents. The operation of G-Unit Studios will provide jobs and added income to locals. The new workforce will also stimulate the local economy. Providing internships, as required under the lease terms, will create pathways for Louisiana residents to enter the film and entertainment industry.

While these incentives have not yet yielded fruit, leasing the building is a concrete way to save the city of Shreveport money on studio upkeep.

“This will relieve the city of about $180,000 per year in maintenance and upkeep expenses,” said Arceneaux. “I’ve been asked why the low rent; the low rent is because of the savings to the city.”

Louisiana is one of the first states in the nation to provide significant tax breaks to the film industry. The potential savings might have made the state an attractive option for Jackson.

Recently, BLACK ENTERPRISE reported on the Louisiana legislature’s vote to remove the $150 million tax credit for the film industry.

In light of the news, Jackson kept a positive attitude while encouraging Louisiana residents to keep the faith.

“I know people in Shreveport are sick right now; stay positive everything happens for a reason.” He continued, “I’m committed to the people of Shreveport; they held me down. Do you know a place in the world where you can stop violence for 16 days? There are things more important than money; you will find out when you get a bunch of it.”

Eventually, the Louisiana legislature modified the bill to reflect a reduction in the incentive to $125 million. Jackson seems to be able to keep his commitment to the people of Shreveport by providing career opportunities.