Preheat your oven to 350 degrees F.
Melt butter in a 10 inch cast iron skillet over medium high heat (or use a regular skillet if you don't have a cast iron skillet).
Add onion, bell pepper and jalapeno and sauté for 2 minutes, or until vegetables have slightly softened (stirring frequently). Add garlic and cook until fragrant, about 30 seconds.
Add cream cheese and stir constantly until melted.
Add corn, chili powder, red pepper, salt, black pepper and ½ of the shredded cheddar cheese. Stir well to combine.
If using a cast iron skillet, top the mixture with the remaining cheese. If not, transfer mixture to a baking dish and top with remaining cheese.
Bake (uncovered) for 13 to 15 minutes, or until hot and bubbly.
Top with chopped fresh cilantro and serve with tortilla chips.