It hasn’t been officially announced yet, as is usually the case, but it appears that Jon Favreau has gone back to work on what will become one of the most highly-anticipated sequels of the next few years, Iron Man 2. Geoff Boucher over at The LA Times apparently caught up with Favs, and had this to say:

I just talked to Jon Favreau a bit ago, and he said that while there hasn’t been an formal announcement on the sequel to “Iron Man,” he’s begun developing it. “We’re working on it now,” he said, “which hasn’t been officially announced. It will be released in 2010.”

We can safely assume that by “we,” Favreau means that he and writer Justin Theroux (Tropic Thunder) have begun outlining story and script. With an April 30, 2010 release date target for the film, it is safe to say that shooting will not begin until the turn of the year. As of right now, star Robert Downey Jr. as well as Gwyneth Paltrow and Terrence Howard are expected to return.

Also interesting is the bit of the story where Favreau is going to be teaming up with Gov. Arnold Schwarzenegger for a little political action. They will be coming together to support the creation of tax breaks that will aid film and television productions that shoot in Los Angeles. It may come as some surprise to many movie fans, but there’s been a 40% decline in the number of film production days shot on location in Los Angeles since 1997. Many productions have been moving to New York, where Gov. David Paterson signed a bill in April delivering a lush new package of incentives.

So not only is Favreau working on an upcoming project that should be the delight of many fans, he is also doing his part to help his local economy. What a swell guy.

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