(1) When a building is designated as a business incubation center by the department, its community board shall accept applications from persons desiring to start or expand a small business and to locate that business within a business incubation center. The application, developed by the department, shall elicit, at a minimum, all of the following information:

    (a) The type of business that the applicant wishes to start or expand.

    (b) An estimate of the number of employees the applicant will need in order to start or expand the business and a 2-year projection of future employment.

    (c) The skill and educational level of the employees that the applicant plans to hire.

    (d) The ability of the applicant to start or operate a successful business.

    (e) A general statement as to why the applicant wishes to be accepted into the business incubation center.

    (f) A signed statement by the applicant that he or she understands and accepts the obligations placed upon him or her under section 11 if accepted into the business incubation center.

    (g) Information that the applicant considers to be of a proprietary nature and that he or she does not want to be made public.

    (2) An existing business located within this state is not eligible to participate in the business incubation program unless a waiver is granted for that business by the department.