(a) The Revenue Division of the Department of Finance and Administration shall authorize an income tax credit equal to one hundred (100) times the average hourly wage paid with a maximum of two thousand dollars ($2,000) per net new permanent employee of a business qualifying under subsection (b) of Section 2. This tax credit shall be used for the tax year in which the new permanent employee qualified as a net new permanent employee. However, if the entire credit cannot be used in the tax year earned, the remainder may be applied against the income tax for the succeeding four (4) tax years, or until the credit is entirely used, whichever occurs first. The credit allowed under this section shall increase by a factor of two (2) with a maximum credit of two thousand dollars ($2,000) if the business is located in a county that had an unemployment rate in excess of ten percent (10%) or in excess of three percent (3%) above the state's average unemployment rate for the preceding calendar year. The unemployment rates used will be those published by the Arkansas Employment Security Department.