(b) With respect to a land use improvement project:

1. (1) The project must consist of either:

   1. (i) facilities for which the eventual use shall be designed and intended for commercial, retail or office purposes, provided that such facilities are located or are planned in neighborhoods which have an existing residential project which was assisted by the State, or a Federal agency, municipality or public corporation; or
   2. (ii) a grant to conduct a study regarding the feasibility of or preliminary planning for facilities of the character described in subparagraph (i) of this paragraph.
2. (2) The distressed area criteria set forth in subdivision (d) of this section must be satisfied.
3. (3) The characteristics of the project reflect and are consistent with the findings required by subdivisions (c), (g) and (h) of section 10 of the UDC Act.

(c) With respect to an industrial project:

1. (1) The project must consist of either:

   1. (i) facilities for which the eventual use shall be designed and intended for manufacturing, warehousing, research and other industrial purposes; and
   2. (ii) a grant to conduct a study regarding the feasibility of or preliminary planning for facilities of the character described in subparagraph (i) of this paragraph.
2. (2) The distressed area criteria set forth in subdivision (d) of this section must be satisfied.
3. (3) The characteristics of the project reflect and are consistent with the findings required by subdivisions (b), (g) and (h) of section 10 of the UDC Act.

(d) The area within which the project is located must display either socioeconomic distress or economic deterioration, as described below:

1. (1) In determining the presence of socioeconomic distress, the corporation shall consider, among other things, the number of persons living below the poverty level who are receiving public assistance in the relevant area, and income levels of such persons. An area characterized by socioeconomic distress presents the following characteristics, among others:

   1. (i) the percentage of the population in the relevant area which is living below the poverty level either:

      1. (a) is equal to or greater than the statewide average of population living below such level; or
      2. (b) is increasing at a rate in excess of the rate at which such statewide average is increasing; or

   2. (ii) the percentage of the population in the relevant area which is receiving public assistance either:

      1. (a) is equal to or greater than the statewide percentage of the population receiving such assistance; or
      2. (b) is increasing at a rate in excess of the rate at which such statewide average is increasing.

2. (2) In determining the presence of economic deterioration, the corporation shall consider, among other things, levels of overall economic activity, levels of labor force activity, and any other statistics which the corporation reasonably determines may appropriately be employed to measure the amount of such economic deterioration. An area characterized by economic deterioration displays the following characteristics among others:

   1. (i) the level of payroll employment in the relevant area shows a greater rate of decline, or a smaller rate of increase, than the rate of change in the statewide level of payroll employment over the last two calendar years or 24-month period; or
   2. (ii) the level of unemployment in the relevant area is equal to or greater than the statewide level of unemployment for the last two calendar years or 24-month period.

(e) Notwithstanding any other provision of this Chapter, no project shall be eligible to receive program assistance from the corporation if:

1. (1) the project is or will be owned, controlled, operated or developed by any person, partnership, corporation or other entity a controlling interest of which is legally or beneficially owned by one or more employees of the State or instrumentality of the State; or
2. (2) the effect of the project would be to move jobs from one area within the State to another area within the State, and the area from which jobs would be exported has not given its written consent to the project.