50 Cent to invest $124 million in Louisiana
50 Cent has announced plans to pump $124 million into the city of Shreveport, Louisiana, as part of his latest investment.
The Queens rapper will renovate Stageworks, update a production campus and build a “dome-style immersive venue and green space park.”
According to Hollywood Reporter, Louisiana will also cough up $50 million in “performance-based funding.”
In a statement, 50 said, “This project is the realisation of the long-term commitment I have made to the City of Shreveport and the State of Louisiana.”
He continued, “By reinvesting in downtown Shreveport and upgrading existing assets to create state-of-the-art entertainment and production facilities, we are creating jobs, inspiring hope, attracting new productions, and giving the entire entertainment industry a reason to build their futures right here.”
Shreveport will serve as the production site for his successful G-Unit Studios, behind movies like The Frozen Ground and Den of Thieves 2: Pantera, as well as hit television shows such as Power and Black Mafia Family.
50 added, “My goal is to turn Northwest Louisiana into the premier destination for film, music, and live entertainment on a national scale. All roads lead to Shreveport.”
Following the news, Louisiana Governor Jeff Landry said, “We’re thrilled to welcome yet another project that sees the strength, talent and potential of this region.”
The rapper recently announced a new series called Gang Wars, shortly after the success of his Sean Combs: The Reckoning docuseries, which was described as “a staggering examination of the media mogul, music legend, and convicted offender.”
The upcoming show, Gang Wars, is said to be “a raw, unfiltered true crime series that rips open America’s most infamous gang rivalries with unprecedented access and never-before-heard accounts.”