SHREVEPORT, La. (KTAL/KMSS) – The pending lease agreement between media mogul Curtis “50 Cent” Jackson and the city of Shreveport has some local business owners buzzing about the potential for long-term economic growth and development.
After months of negotiations and plans stalled by strikes affecting film and television productions, an ordinance was adopted to consider a lease agreement between the City of Shreveport and G-Unit Film and Television Inc. owned by Jackson.
The city council is set to vote in December on the lease that would provide the studio to Jackson’s company for a nominal annual amount. The agreement would alleviate the city of the burden of maintenance, upkeep, refurbishment, and other financial obligations associated with Millennium Studios.
It is also expected to provide an infusion of revenue and new business to local entrepreneurs who would benefit from the influx of people that film and television productions add to an economy.
“If you are a small business then I would be prepared to get my business ready for the number of films that 50 Cent will bring to Shreveport,” says District A Councilwoman Tabatha Taylor.
If passed the legislation will authorize Shreveport Mayor Tom Arceneaux to sign a lease agreement with G-Unit to move into the former Millennium Studios.
“He is going to need local businesses, hairdressers make-up artists, bakeries, whatever it is that your business is, whatever that movie production needs, local talent is the first priority,” says Taylor.
The proposed lease is for 30 years with a 15-year renewal option. Rent payments are just 24 hundred dollars a year. Taylor says despite the low rent small businesses are booming.
Crystal Green the owner of Organic Natural Roots Studio says this is major. Many are hopeful it will bring a big financial impact.
“The fact that 50 Cent is coming to town is perfect timing, you know what I mean because now I get to expand my brand not only to the local clientele here but, celebrities and potential rappers, actresses, actors so it’s a great deal,” says Crystal Green.
Could an agreement with a proven entertainment powerhouse like Jackson and the City of Shreveport be a start to the city retaining its best and brightest? An esthetician who works in Green’s studio said the news is making her think about long-term growth in Shreveport.
“It’s kind of promising it kind of makes you want to stay here and continue to grow here, so I feel like Shreveport will be a great launching pad for many of us.” Says Organic Natural Roots Studio esthetician Charleste Cotton.