Honda announced that they are moving their jet engine headquarters to the city of Burlington and will provide "up to" 70 jobs. Unfortunately, each of those jobs will cost taxpayers at least $182,000.

Now, I'm no expert on economic development, but I'm pretty sure using $182,000 to create one job is not the best way to facilitate a healthy job market in North Carolina. Sounds more like corporate welfare to me.

Here's how the numbers break down:

The state is giving Honda $1.7 million in grant money.

The Airport Authority in Alamance County has taken out a loan for $11 million to make their airport suitable for Honda's needs.

So, taxpayers are handing Honda $12.7 million for 70 jobs, which comes to approximately $182,000 per job. And don't forget the interest on the $11 million loan.