Shreveport, Louisiana, is making strides in its effort to lease its movie studio to 50 Cent’s G-Unit Film & Television.
The lease agreement is $2,400 per year for 30 years, with the possibility of renewal for an additional 15 years.
• On November 14th, the Shreveport City Council unanimously voted to introduce legislation authorizing a lease of the city-owned Millennium Movie Studio to 50 Cent’s G-Unit Film & Television Louisiana, LLC.
• Mayor Arceneaux expressed enthusiasm for what this move could do for the local film industry and its ability to create opportunities.
• The lease payment of $2,400/year is in addition to maintenance and repair costs of roughly $160,000 to $170,000 per year and anticipated further improvements amounting to several million dollars.
• Finalization of the agreement will take place at the City Council meeting on December 12.
On Tuesday, November 14, the Shreveport City Council members unanimously agreed to introduce legislation that authorizes the lease of the Millennium Movie Studio to Curtis “50 Cent” Jackson’s G-Unit Film & Television Louisiana, LLC.
G-Unit Film & Television Louisiana, LLC. plans to use the city-owned property at 300 Douglas St. as a production studio for various film, sound, light, television, broadcasting, recording, and art projects.
Mayor Tom Arceneaux expressed his enthusiasm for the potential impact of this lease on the local film industry, stating, “We had a thriving television and film industry here in Shreveport before 2005. This agreement can bring back many opportunities and rejuvenate our local industry. Shreveport is about to see the film industry flourish once again.”
In addition to the lease payment, which covers the use of the studio and all its equipment, G-Unit Film & Television Louisiana, LLC. will also be responsible for the annual maintenance and repair costs, amounting to around $160,000 to $170,000.
Mayor Arceneaux also expects substantial improvements to be made to the facility, amounting to several million dollars.
The lease agreement will be finalized during the city council meeting on December 12.
This is a significant and promising opportunity for Shreveport’s film industry.