Plans for 50 Cent’s new G-Unit Movie & TV Studios in Shreveport, Louisiana, have hit a snag resulting from potential adjustments within the state’s tax credit score insurance policies. Louisiana lawmakers are contemplating ending a tax credit score program that gives a 40% rebate on in-state movie and TV manufacturing expenditures. On Wednesday (November 13), the Louisiana Home of Representatives voted to section out this program by June 2025 as a part of a broader tax system overhaul.
The proposed invoice will now advance to the Senate, the place it awaits a vote. Louisiana’s movie and TV manufacturing tax credit performed a big position in 50 Cent’s resolution to determine his base in Shreveport, a transfer he introduced earlier this yr with plans to spice up native business and group.
Reacting to the information on Instagram, 50 Cent expressed blended feelings. “This doesn’t really feel good, nevertheless it could possibly be nice for Louisiana. Endurance—let’s see the way it performs out.” He adopted up with one other publish, acknowledging the challenges. “I do know folks in Shreveport are sick proper now. Keep optimistic; all the things occurs for a cause. I need to thanks all for supporting me. Humor Concord recorded zero violent crimes for 16 days, which turned it into certainly one of my greatest accomplishments.”
Past the movie studio, 50 Cent had formidable plans to spend money on Shreveport’s housing. He has already initiated efforts to revitalize a number of properties within the downtown space. Gerod Durden, an actual property dealer concerned with G-Unit’s tasks, said that fifty Cent intends to buy and renovate roughly two dozen industrial properties as a part of a three-phase initiative. In response to native NBC affiliate KTAL, this challenge goals to carry vital investments to Shreveport’s financial system and uplift the group.
“He’s very passionate in regards to the metropolis,” Durden mentioned. “I’d say 10 or extra properties that we’ve already closed a number of of this week. It’ll be a further 10 or so. These are all-cash gives. You understand, there, there’s fairly a number of leisure spots for not solely adults and children.”
