(a) The board shall determine whether or not an applicant is or may become eligible to receive credits under article 9-A, 9-B, 9-C, 23, 32 or 33 of the Tax Law, or exemptions under section 485 of the Real Property Tax Law, or both.

(b) The board shall not approve any application which concerns the removal of a business facility from one area of the State to another area of the State, or in the abandonment of one or more plants or facilities of the applicant within the State, unless the applicant demonstrates to the satisfaction of the board, in a sworn written statement by a corporate officer, partner or sole proprietor, that the proposed facility is:

An applicant may be deemed to meet the requirements of paragraph (1) of this subdivision if, in his submission to the board, he demonstrates: (i) the feasibility of out-of-state relocation; and (ii) that such relocation would provide a significant reduction in production costs compared to production costs at the existing location. An applicant may be deemed to meet the requirements of paragraph (2) of this subdivision if, in his submission to the board, he demonstrates that such relocation will be instrumental in halting at least three consecutive years of declining profitability of its existing facility or in providing a significant reduction in operating or production costs. For purposes of this section, area shall mean county, except that in reference to the city of New York, area shall mean the city of New York.

(c) In deciding whether or not to grant credit for job retention, the board shall consider, among other things:

(d) If a business concern does not seek State tax credits and/or real property tax exemptions within two years of the projected completion date of the project which has been proposed in the application and approved by the board, such approval shall lapse, unless extended at the discretion of the board upon the written request of the applicant. Nothing contained herein shall be deemed to prohibit a firm from reapplying for approval of a project after the initial approval for the same project has lapsed.