By rssfeeds-admin A proposal introduced to the Shreveport City Council would create a Film and Entertainment Gateway Economic Development District, designed to attract more restaurants, music, and entertainment, and possibly film production to the Red River District.
“This is, of course, a different issue. It has to do with downtown development; it doesn’t really have that much to do with the film industry, although it would be available for film. It will help with the entertainment district, which is a completely different avenue of economic development than Mr. Jackson (Curtis “50 Cent” Jackson) is planning to go into,” said Mayor Tom Arceneaux.
Under this proposal, a district manager would be appointed, and a board of directors would oversee redevelopment. The money will be generated by an additional two percent sales tax within the district.
“They will be making an economic development plan for the district. All of the 2% additional sales tax that will be collected will go into a trust fund, and it’ll be available for redevelopment or for projects that generate at least a million dollars in capital investment or ten new jobs,” said Mayor Tom Arceneaux.
The mayor made it clear that the funds are only available for projects that meet strict requirements.
“It is designed for capital projects to enhance somebody’s ability to bring in a restaurant or another entertainment venue, for reconstruction of buildings down there, or for things related to film, television, or music production. But it really is fairly limited to who would be able to benefit from it,” said Mayor Tom Arceneaux
Mayor Arceneaux says the goal is to make the Red River District attract more investments and create jobs.
“For example, a restaurant that would include servers, cooks, hosts, or hostesses, we envision that there would be some jobs created as a result of this,” said Mayor Tom Arceneaux
If passed, only businesses located within the district would be required to collect the tax.
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