Iron Man 3 Brought More Than $175 Million To North Carolina
According to the Motion Picture Association of America, Iron Man 3 brought nearly $180 million and [...]
According to the Motion Picture Association of America, Iron Man 3 brought nearly $180 million and more than 2,000 jobs to North Carolina as a result of the controversial tax breaks offered to Marvel Studios and Walt Disney Studios during the production of the film. You can read our interviews with Jon Sanders of the John Locke Foundation, who argued against "Iron Man on Welfare" and with North Carolina film chief Aaron Syrett, who discussed what he feels is the value of the incentives to the state. "These findings are just the latest evidence of the economic benefit that film and television production has meant for North Carolina," said Senator Chris Dodd, Chairman and CEO of the MPAA. "Thanks to a reliable and refundable production incentive, North Carolinians have been able to reap the benefits of direct spending and job creation across the state. Marvel's Iron Man 3, like so many productions that choose to shoot in North Carolina, generated hundreds of millions of dollars in spending for local businesses in dozens of communities and thousands of jobs for North Carolina workers." The movie got about $20 million in tax incentives, according to the statement from the MPAA. The analysis was conducted by MNP LLP and assesses the economic impact of the production filming in North Carolina between December 2011 and December 2012. The analysis also finds that the production is responsible for $104.1 million in labor income across North Carolina, and that spending associated with the film engaged 719 vendors in 84 communities across the state.
