Preheat the oven to 375 degrees F.

Place a 10-inch cast iron skillet in the oven to get hot.

In a large skillet, fry the bacon over medium-high heat until brown, about 6 minutes. Remove with a slotted spoon and drain on paper towels. Drain all the fat but 2 teaspoons. Return to medium-high heat and add the corn. Cook, stirring, until golden and tender, about 5 minutes. Add the cream, butter, 1/4 teaspoon salt, and water, and cook until thick and creamy, about 10 minutes. Remove from the heat and mash with a potato masher to crush some of the corn. Let cool.

In a large bowl, combine the cornmeal, flour, baking powder, baking soda, remaining salt, and cayenne. Stir to combine.

In a separate bowl, combine the eggs, buttermilk, and 2 tablespoons of the melted butter. Add the buttermilk mixture to the dry ingredients and mix well. In a separate bowl, combine the cooled cream corn, bacon, jalapenos, and 1 1/2 cups of the cheese, and mix well.

Remove the skillet from the oven and add the remaining tablespoon of melted butter, tilting the skillet to coat the bottom and sides. Pour half of the batter into the bottom of the skillet. Top with the corn-cheese mixture, then top with the remaining half of the batter. Bake until golden brown and set, about 30 minutes.

Remove from the oven and sprinkle with the remaining 1/4 cup of cheese. Serve hot.