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Erin McCarty 710KEEL
Curtis "50 Cent" Jackson has a new lease agreement with the city. The council voted unanimously to approve the lease for Millennium Studios.
Shreveport Mayor Tom Arceneaux says he was willing to make this a 99 year lease when the G-Unit team agreed to increase the investment they will be making in the city. 50 Cent will be pumping $124 million dollars into the 3 specific properties in Shreveport: Millennium Studios, Stageworks and the G-Dome. $70 million of that will be spent at Millennium.
But the agreement with the state will also play a role in how this project moves forward. There are several requirements in that deal.
Aggressive Production and Budget Targets
G-Unit will be eligible to get as much as $50 million in reimbursement payments from the state for investments made in Shreveport. But the deal comes with some production requirements.
Year 1 (2026): Fully produce 2 titles with a combined budget of $5 million.
Year 3: Increase to 5 productions, including at least one scripted title, with a $15 million aggregate budget.
Year 5: Reach a peak of 7 productions and a $25 million budget aggregate.
The total production budget is more than $75 million.
50 Cent Must Keep Jobs in Louisiana
A big part of this agreement is to make sure local residents have a shot at working in the business. This deal says work performed by Louisiana residents—starts at 50% in the first year but must climb to 80% by Year 3 and stay at that level through 2030.
The agreement also mandates a "local preference" policy, requiring G-Unit to favor Louisiana suppliers and contractors if they are competitive on price and quality.
50 Cent Must Host Several Events Each Year
This agreement also includes a requirement that G-Unit host regular events in our community. He must host a minimum of 26 live events per year across Stageworks and The G-Dome, all of which must be open to a paying or invited audience. These can range from concerts, sporting events, comedy shows to any number of events. Not all of these events are expected to be as big at the Humor and Harmony Festival in 2024.
City Will Get to Use G-Dome
Community Days: The City and State each receive 2 weekdays and 1 weekend per year for public use of the Dome.
Skyline Marketing: The Dome’s exterior LED façade will feature 60 days of City advertising and 20 days of State advertising annually.