WILMINGTON, NC (WWAY) — A new report analyzing the impact of “Iron Man 3” filming in North Carolina shows the movie is responsible for $179.8 million in spending and 2,043 jobs in the state, according to the Motion Picture Association of America.
The analysis by MNP LLP assesses the economic impact of the production filming in North Carolina between December 2011 and December 2012. It 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.
“These findings are just the latest evidence of the economic benefit that film and television production has meant for North Carolina,” MPAA CEO Chris Dodd said in a news release. “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 prod uctions 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.”
Data provided to the study by Marvel Entertainment shows the production spent $109.3 million in qualified production expenditures. Of that, the movie spent 17.4 percent, or about $19 million, on resident non-talent labor. That number, though, is only about half of the $33 million spent on non-resident non-talent labor. Talent for the movie, which is categorized as non-resident labor as well, made about $16.8 million.
The movie, which opens Friday nationwide, received $20 million in state tax incentives. According to the report, the incentives resulted in the following economic benefits:
-$8.99 in economic output for every dollar of tax credit received by the production.
-$6.50 in Gross State Product for every dollar of tax credit received by the production.
-102 full-time equivalent positions for every $1 million in tax credit received by the production.
-$5.20 in labor income for every dollar of tax credit received by the production.
The report does not consider infrastructure impacts on things like production facilities and equipment. Because “Iron Man 3” has not yet been released, the report says it is also too early to consider film induced tourism.