To qualify for the benefits provided in this chapter, a business must be located within this State and must:

1. (1) be engaged primarily in a business of the type identified in Section 12-6-3360;
2. (2) provide a benefits package, including health care, to full-time employees at the project;
3. (3) enter into a revitalization agreement that is approved by the council and that describes a minimum job requirement and minimum capital investment requirement for the project as provided in Section 12-10-90, except that a revitalization agreement is not required for a qualifying business with respect to Section 12-10-80(D); and

4. (4) have negotiated incentives that council has determined are appropriate for the project, and the council shall certify that:

   1. (a) the total benefits of the project exceed the costs to the public; and
   2. (b) the business otherwise fulfills the requirements of this chapter.