Potential changes in state tax credit rules have caused problems for plans for 50 Cent’s new G-Unit Film & TV Studios in Shreveport, Louisiana.
Legislators in Louisiana are debating closing a tax credit program providing a 40% rebate on in-state film and TV production costs. Part of a larger tax system overhaul, the Louisiana House of Representatives agreed on Wednesday, November 13, to phase out this program by June 2025.
The proposed measure will now proceed to the Senate, awaiting a vote. The film and television production tax credits from Louisiana were very important in 50 Cent’s choice to set his base in Shreveport, a move he revealed earlier this year with intentions to support local businesses and community.
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Responding to the news on Instagram, 50 Cent conveyed conflicting feelings. “This feels bad, but Louisiana might find immense value in it. Let’s see how patience works out. He followed up with another piece addressing the difficulties. “I am aware of sick Shreveport residents right now. Stay upbeat; everything happens for a purpose. I would want to thank you everyone for helping me. For sixteen days, Humor Harmony logged zero violent offenses, which made it among my greatest achievements.
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Beyond the movie business, 50 Cent had grand ideas for real estate investments in Shreveport. He has already started projects to bring some downtown buildings back to life. According to real estate broker Gerod Durden participating in G-Unit’s operations, 50 Cent plans to buy and remodel maybe two dozen commercial buildings under a three-phase scheme. Local NBC station KTAL claims that this initiative intends to boost the community and bring major investments to the Shreveport economy.
“He is quite enthusiastic about the city,” Durden remarked. “I would say ten or more of the properties we closed a handful of this week. Ten or so more will be added. All of these are all-cash proposals. You know, there are fairly several amusement venues for not only children but also adults.
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