Shreveport's new downtown economic development district only includes properties that Curtis "50 Cent" Jackson either owns or leases from the City of Shreveport.
The three buildings that Jackson owns need substantial renovation before they can be opened for ANY business. The dirt lot is just that and the paved parking lot does not generate any real money without a dome placed on it.
Expo Hall formerly SoundStage is now only conducive to limited film production after renovation by the City into a sports venue. Expo Hall is now better suited for reality TV programs or story telling crime stories with limited guests/actors.
Celebrity basketball games, etc. can be staged again at Expo Hall. Like Millennium, Jackson has a long term lease on Expo Hall.
None of these uses require big capital spending nor do they create a sustainable workforce much less any overflow business revenue for the district and surrounding businesses.
The Red River District only has three, soon to be four, open businesses. None of these are bringing in major sales dollars that will help fund the economic development in the district. If enacted an additional 2% sales tax in the district will be more of a deterrent than a revenue producer.
The big ticket items needed to generate substantial dollars will be out-of-state purchases of film production equipment that will be subject to a 4% use tax. Construction of a permanent dome would also result in substantial use tax income. However, the costs of a permanent dome are very high and economic projections on income a permanent dome could produce do not justify the cost of private investment dollars.
Without major expenditures by the City to remedy Millennium flooding and the repair of flood damage to the studios and the adjacent warehouse, there will be NO film production at that location. That means no use tax income for the district from the studios.
Jackson has met with Governor Landry and his economic development staff to talk about his grandiose plans for Shreveport. The widely circulated social media films of g-string semi-nude female dancers and the open consumption of what appears to be marijuana in 50's dome last year have made their way to Baton Rouge. Being the political animal that he is and with his future political aspirations, it is very unlikely that Landry will approve any dome funding
Historic tax credits may be available for 50's three buildings. But renovation requires upfront funds just like the construction of a permanent dome or the re-erection and maintenance of the formerly used temporary dome. How much Jackson lost on his Humor and Harmony Festival is an unknown number but there is no doubt it was a substantial sum.
The district's fancy title--Film and Entertainment Gateway Economic Development District--evidences that film production is the intended catalyst to drive new sustainable business development. With the Millennium issues the planned bring home the gold film engine will never get out of the garage.