Curtis Jackson, popularly known in the entertainment industry as 50 Cent, is set to open a G-Unit Film and TV Studio in Louisiana.
Shreveport, LA’s City Council members agreed last week to issue legislation authorizing the lease of the city-owned Millennium Movie Studio to him for his G-Unit Film & Television Louisiana, LLC. The lease includes all furniture, fixtures, and equipment located within the studio.
According to KSLA, The G-Unit Film & Television Louisiana, llc wants to use the property to operate a production studio and/or activities and uses related to the promotion or development of the film, sound, light, movie, television, broadcasting, recording, and arts industries.
”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.
KSL reports that if everything is approved, the lease to 50 Cent would be for $2,400 per year for 30 years, with an option to renew for an additional 15 years. The ordinance will come up for consideration for final passage when the city council meets on December 12.
50 Cent reportedly has a net worth of $30 million, however, at his peak, he was worth over $100 million.