The following political subdivisions may apply to the Secretary to designate an enterprise zone: a political subdivision for an area within that political subdivision; with the prior consent of the municipal corporation, a county on behalf of a municipal corporation for an area in the municipal corporation; or two or more political subdivisions jointly for an area astride their common boundaries. The application shall: be in the form and manner and contain the information that the Secretary requires by regulation; contain sufficient information to allow the Secretary to determine if the proposed enterprise zone meets the criteria in § 5-704 of this subtitle; be submitted for a political subdivision by its chief elected officer, or if none, its governing body; state whether the political subdivision has examined the feasibility of creating educational or training opportunities for employers and employees of business entities located or to be located in the proposed enterprise zone; and state the standards established by the political subdivision that a business entity shall meet before receiving the incentives and initiatives under § 5-707 of this subtitle.