50 Cent Says “Wait a Minute Guys” in Response to Film Tax Credit

As the state of Louisiana moves to repeal the state's Film Tax Credit program, Shreveport investor Curtis "50 Cent" Jackson is sending a message on social media. Its either a message to stay calm and don't panic, or he's going through some things.

The Louisiana House of Representatives took the first vote to eliminate the film credits this week, and the Louisiana Senate is expected to follow. Then Governor Jeff Landry seems almost giddy at the idea of signing the legislation to eliminate filming in the state. It seems like the House vote was the only chance there was to stop the repeal, and that's over now.

What Does 50 Cent Say About Losing Filming Tax Credits?

So most people are now coming to grips with the fact that the repeal will happen. Which means a lot of folks are preparing to say "farewell" to Jackson's investments in Shreveport. Afterall, his entire move to Shreveport was built around the acquisition of Millennium Studios to create his G-Unit Studio in Shreveport. Without the Film Tax Credit program, it seems like this is not going to be financially viable.

But Jackson's statements on social media might be indicating something different. In one Instagram post, Jackson acknowledges that Shreveport residents don't feel good about the situation, and what that could mean for his involvement. He adds that "everything happens for a reason" before thanking the city for his support. Which many online took as a "goodbye" note to Shreveport. You can read it here:

He followed that up with a few more posts about the repeal, and Shreveport, with his final message (so far) being that he is "committed to the people of Shreveport". He continues to say that this whole thing could be "good" for Louisiana, but doesn't explicitly say if its good for his plans, or his investment in Shreveport. This is the closest he comes:

Why Does Louisiana Want To Repeal Film Tax Credits?

It is worth reminding everyone that in Louisiana, the film and tax credits are worth about $150 million dollars, but experts say that earns the state back $360 million in jobs, and another $600 million in associated sales. Beyond the actual filming, the state has developed an entire industry around film tourism. That industry alone generates $2.5 billion annually.

Not only that, Louisiana Economic Development Secretary Susan Bourgeois is on record saying that the state will not touch the Industrial Tax Exemption Program, or ITEP, during these votes to repeal tax credits. In one of the first move of the new ITEP group, they gave away $185 million in June. Which is more than the entire film tax credit program.

So its not that the state can't afford the Film Tax Credit program, they just don't want those breaks going to the filming industry, and cities like Shreveport or New Orleans.