Out and About
Report shows Iron Man 3's financial impact on NC
"Iron Man 3" brought a huge economic impact to the state of North Carolina when it filmed here in 2011 and 2012.
Posted — Updated
By Kathy Hanrahan
RALEIGH, N.C. — U.S. box office returns for "Iron Man 3" won't be in until this weekend, but a new analysis released Tuesday shows the film's financial impact on North Carolina's economy was a success.
The movie, which filmed in North Carolina between December 2011 and December 2012, resulted in $179.8 million and 2,043 jobs in the state, according to the study. Spending associated with the film involved more than 700 vendors in 84 communities statewide.
The film also had an impact on several of local businesses, who were hired by production. Master Craftsmen Services, a Wilmington furniture restoration company, created nearly 10 set pieces for the film, according to the Wilmington Star. They reported that the film represented 10 to 15 percent of the company's business during the year the movie filmed there.
State tax incentives provided $20 million in support to "Iron Man 3."
A rundown of the economic impact on the state:
- $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.
"Iron Man 3" hits theaters on Friday.
Copyright 2024 by Capitol Broadcasting Company. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
