Curtis "50 Cent" Jackson's G-Unit expected to lease Shreveport studio for $2,400 a year

The City of Shreveport is excited to announce the groundbreaking proposed collaboration with renowned artist and entrepreneur 50 Cent.

On Monday, Nov. 20, the Mayor of Shreveport, Tom Arceneaux and members of the Shreveport City Council spoke to the public and media to announce the new collaboration.

"I am very excited today to announce a proposed collaboration with a fella named Curtis Jackson, who many of you know as 50 Cent, and his company G-Unit for the use of Millennium Studios, which is a property of the City of Shreveport," said Arceneaux.

According to Arceneaux, this collaboration marks a significant step forward in leveraging public-private partnerships for economic development and job creation in Shreveport.

Under the proposed agreement, Shreveport and G-Unit will have a 30-year lease, with an option for a 15-year extension for the Millennium Studios facility.

The yearly rent for this facility will be $2,400 a year, but according to Arceneaux this collaboration will save the city nearly $180,000 a year.

"This will relieve the city of about $180,000 per year in maintenance and upkeep expenses," said Arceneaux. "I've been asked why the low rent; the low rent is because of the savings to the city."

More:City of Shreveport proposes lease agreement for Millennium Studios to rapper 50 Cent

This revitalization of Millennium Studios is expected to have a cascading effect on job creation, attracting talent to the area and contributing to the overall economic resurgence of Shreveport.

Orville Hall a representative of 50 Cent said, "I've actually been in Shreveport now going on seven years, researching the city and knowing the potential of Shreveport... this is going to be a great thing for the city, he has 20 shows over five networks so this building will be busy."

He continued by saying, "let's all tell the world, Shreveport is open for business."

The ordinance for this collaboration was proposed in Shreveport City Council on Nov. 14, and will reappear in the horseshoe on Dec. 12 for approval.

"Hopefully the members of the City Council will approve it," said Arceneaux.

Shreveport City Councilman James Green said, "thank you 50 Cent for deciding to come to Shreveport and make it your home. It's a great day for a great day."

Read:From Millennium Studios to tax credits: Everything to know about Shreveport's movie scene

Makenzie Boucher is a reporter with the Shreveport Times. Contact her at mboucher@gannett.com.