Iron Man franchise to “run away” out East

31Oct11

 

 

In Chapter 13 of MMW one of the key strategies for “cutting costs while differentiating content” for film and television production was taking advantage of different locations around the U.S. and even in other countries, which often have incentive programs that “offer more aggressive tax rebates and production credits” to film/tv-makers (159). One such recent example is Wilmington, North Carolina. It was just recently announced that the filming of Iron Man 3 would take place in Wilmington, promising to “boost the NC film industry” (Barbee).

This is a clear example of producers taking advantage of opportunities to cut costs, especially considering the fact that the first two Iron Man films were filmed in Los Angeles.  Chris Cooney, co owner of the EUE/Screen Gems studio states, “We aggressively pursued this piece of business. We negotiated hard and it paid off.” (LA Times). Beating out LA for the filming location, Wilmington surely attracted Marvel Studios because of its incentive of 25% tax credit on production expenses.

In addition to aiding Marvel in cutting costs, filming will surely boost Wilmington’s economy as well. As Chapter 13 in MMW also points out, “location shooting often brings money into new communities and strengthens the base of below-the-line workers in new regions” (160).  The film is expected to have an “estimated economic impact of at least $80 million and will create 550 crew jobs and more than 1,000 talent opportunities” (Barbee). This is just one of many recent examples of the “runaway production” mentioned in the chapters this week. With incentive programs that provide easy opportunities for cutting production costs as well as for boosting local economies, it is no wonder that the Iron Man 3 franchise is picking up and moving to the East Coast.

-Annie

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