The commissioner shall promulgate rules establishing a program for designating industrial public roads in the state. The criteria for such designation shall include:

1. (a) The economic impact of such road on the coal or other companies which use such public road;
2. (b) The impact on the citizens which use the road in their daily business; and

3. (c) The cost of any improvements which would be necessary to bring the road up to standard versus the benefits.

   The commissioner shall publicize the program and allow any company to make such application.