News Summary
Louisiana has chosen to keep its film tax credits, ensuring continued support for the state’s film industry as it recovers from the disruptions caused by the 2023 Hollywood strikes. Governor Jeff Landry’s initial proposal to eliminate the credits faced strong opposition from the local film sector, resulting in the program’s continuation until at least 2031. With public support and new funding limits, the film industry can sustain its growth, with notable projects already contributing significantly to the local economy.
New Orleans – Louisiana has decided to preserve its film tax credits, despite recent proposals for their elimination, which threatened the local film industry’s growth and stability. The preservation of these incentives comes at a critical time when the state’s film sector is still making a recovery from the dual Hollywood strikes that occurred in 2023.
Louisiana’s governor, Jeff Landry, along with the support of the state’s House of Representatives, had previously suggested the removal of the tax credit program, a move that would have had significant ramifications. However, the local film industry rallied support, culminating in concessions that allowed the tax incentives to continue until at least 2031. New caps have been placed on project applications and funding limits, which shows a willingness from both the industry and lawmakers to maintain the incentive program.
A recent poll revealed that approximately 80% of Louisiana’s population backs the film tax credit program, highlighting widespread recognition of the economic benefits stemming from the film industry. Jason Waggenspack, the president of Film Louisiana, indicated that the film and television sector generates thousands of jobs and contributes significantly to the state’s economy.
The state’s film tax incentives—first introduced in 2002—positioned Louisiana as a leader in the film industry, with many parishes welcoming film and TV crews in the years that followed. Productions like “Carry-On,” “Nickel Boys,” and “Sinners” have recorded notable success, with “Sinners” reportedly spending over $65 million on location in Louisiana, underlining the financial impact of this industry on local economies.
Film Louisiana has joined forces with Louisiana Economic Development to establish the Entertainment Development Fund, which allocates 2% of tax credits toward workforce development and education initiatives. The state boasts a strong educational framework, with 18 higher education institutions offering programs related to digital media and film, alongside various nonprofit organizations focused on training young individuals pursuing careers in the industry.
Looking beyond New Orleans, Louisiana aims to highlight film production’s economic benefits across the state, hoping to drive legislative support from a broader perspective. The film industry not only advantages from favorable tax incentives but also boasts unique scenery and cost savings on materials and rentals when compared to other states, along with a deep pool of experienced crew members capable of supporting multiple productions simultaneously.
Despite a decline in productions following the strikes, there is optimism that film production will recover in the latter part of the year. There are ongoing discussions regarding potential future incentives aimed at bringing more projects to the state. Notably, 50 Cent is preparing to open a G-Unit Films and Television studio in Shreveport, with a focus on establishing a sustainable business model that emphasizes job creation and development opportunities. This venture is expected to reinvigorate Shreveport’s local film industry.
To further promote growth in the film sector, the Shreveport City Council approved a 45-year lease for G-Unit to operate at Stageworks of Louisiana, a facility that the city has invested $4.7 million to renovate. This initiative aims not only to revitalize underutilized spaces but also to enhance local economic growth. G-Unit will be responsible for maintenance and operations of the facility under the lease agreement, while also retaining the right of first refusal to purchase the property in the future.
The city council has expressed support for utilizing this facility for various entertainment activities, although adult-oriented content is excluded. Additionally, Shreveport’s film industry is actively promoting networking events designed to engage the local community and support the development of local talent, showing a renewed commitment to cultivating a thriving film environment across the state.
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Additional Resources
- Variety: Louisiana Incentives for 50 Cent’s Shreveport Studio
- Wikipedia: Film Tax Incentives
- IMDb: Film News
- Google Search: Louisiana film industry
- KSLA: 50 Cent Involved in Shreveport Film Industry
- Google Scholar: Louisiana film tax credit
- Shreveport Bossier Advocate: 50 Cent’s Visit to City Council
- Encyclopedia Britannica: Film Industry
Author: STAFF HERE SHREVEPORT WRITER
The SHREVEPORT STAFF WRITER represents the experienced team at HEREShreveport.com, your go-to source for actionable local news and information in Shreveport, Caddo Parish, and beyond. Specializing in "news you can use," we cover essential topics like product reviews for personal and business needs, local business directories, politics, real estate trends, neighborhood insights, and state news affecting the area—with deep expertise drawn from years of dedicated reporting and strong community input, including local press releases and business updates. We deliver top reporting on high-value events such as Mudbug Madness Festival, Red River Revel Arts Festival, and Independence Bowl. Our coverage extends to key organizations like the Shreveport-Bossier Chamber of Commerce and Shreveport Regional Arts Council, plus leading businesses in gaming, healthcare, and energy that power the local economy such as Horseshoe Casino, Ochsner LSU Health, and Atmos Energy. As part of the broader HERE network, including HEREBatonRouge.com and HERENewOrleans.com, we provide comprehensive, credible insights into Louisiana's dynamic landscape.
