by Jeroslyn JoVonn
November 16, 2024
50 Cent remains optimistic about the outcome of Louisiana’s decision to eliminate its $150 million film tax credit.
Curtis “50 Cent” Jackson put his online trolling on pause when reacting to Louisiana’s rollback of film and television production tax credits.
On Nov. 13, Louisiana’s House of Representatives voted to repeal the $150 million film tax credit, known as House Bill 2, KSLA reports. As the bill heads to the Senate, 50 Cent addressed the news on social media, highlighting its potential impact on the media empire he established in Shreveport earlier this year.
“I know people in Shreveport are sick right now, stay positive everything happens for a reason,” the Hip-Hop captioned a repost of a news clip. “I want to thank you for supporting me with Humor Harmony having zero violent crimes for 16 days, believe it or not that made that event one of my biggest accomplishments.”
The news clip he shared features Shreveport Mayor Tom Arceneaux acknowledging that the tax credit cut is “not a lot of good news.”‘ ” He stated that he and Senate members are collaborating on a resolution. The Mayor also highlighted how the change could affect 50 Cent’s efforts with his G-Unit Studios imprint, which he established in Shreveport due to Louisiana’s film tax credit.
“I think we’ve all been looking at each other like.. He has not indicated that that’s an absolute deal killer,” Arceneaux said. “But he came here for that. Well, he came here to film and obviously, that’s a part of the calculus of that.”
“So yes, it likely will have an impact on some of his decisions,” he added.
50 Cent’s response follows a private meeting last month with the Mayor and state Governor to address the proposed tax cut. His successful Humor and Harmony Weekend brought a significant boost to Shreveport’s local economy and small businesses. The event showcased the rapper’s star power, drawing an impressive lineup of talent, including Dave Chappelle, musical performances by Master P, DaBaby, and Flo Rida, as well as a celebrity basketball game featuring Bow Wow, Andrew Johnson, 2 Chainz, and more.
Louisiana’s $150 million film tax credit was a crucial factor in Jackson’s decision to establish G-Unit Studios in Shreveport. Mayor Tom Arceneaux and the Shreveport City Council have strongly backed the credit, unanimously passing resolutions to encourage lawmakers to protect and expand it.
The tax credit positioned Louisiana as a leading destination for filmmakers, drawing numerous productions to the state. Over the past decade, it has hosted more than 700 projects, including films and TV series such as “Interview with the Vampire,” “National Treasure,” “Nickel Boys,” and “The Iron Claw,” among others.
Amid criticism from the local film community, several legislators pledged on the House floor to collaborate with the state Senate and the Governor’s office to preserve incentives for the entertainment industry.
“There’s a lot of panic about what we’re doing here,” said Rep. Steven Jackson, a Democrat from Shreveport, said.
“We have to get to a point where we’re more competitive to attract business so we stop losing our people,” said Rep. Julie Emerson, the Republican chair of the Ways and Means Committee. “We’re the only state in the South that’s losing population.”
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