Curtis Jackson, better known as 50 Cent in the entertainment world, is planning to construct a G-Unit Film and TV Studio in Louisiana.
Last Monday, Shreveport City Council members voted to enact legislation permitting him to lease the city-owned Millennium Movie Studio to his G-Unit Film & Television Louisiana, LLC. The lease includes all of the studio’s furnishings, fixtures, and equipment.
The G-Unit Film & Television Louisiana, llc intends to use the property to operate a production studio and/or activities and uses connected to the promotion or development of the film, sound, light, movie, television, broadcasting, recording, and arts sectors, according to KSLA.
”We enjoyed for a period after 2005, we enjoyed a very robust television and film industry in the Shreveport area. This will bring back I think a lot of those people and will rejuvenate that industry in our area. So I think the film industry is about to blossom again in Shreveport,” said Mayor Tom Arceneaux.
“He’s undertaking all of the maintenance and repair, which is around 160 to 170 thousand dollars a year. So to look at just the lease payment is not fair to him. We also anticipate he’s going to make several million dollars of improvements to the facility. This is a very serious proposal, a very serious undertaking by him,” said Arceneaux.
According to KSL, if all goes as planned, 50 Cent’s lease will be for $2,400 per year for 30 years, with an option to renew for another 15 years. When the city council meets on December 12, the ordinance will be considered for final passage.
50 Cent is said to have a net worth of $30 million, although at his peak, he was worth more than $100 million.