(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:

1. (1) reasonably necessary to discourage the applicant from removing such other facility to a location outside the State; or

2. (2) reasonably necessary to preserve the competitive position of the applicant in its respective industry.

   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:

1. (1) the size and nature of the new investment relative to the value of existing investment in New York State;
2. (2) the percentage of increase of employment at the proposed business facility;
3. (3) the number of existing jobs that will be retained by reason of the new investment; and
4. (4) the feasibility of out-of-state relocation.