By Sara QuamThe near final step in getting a new business to Luverne was approved by the Luverne City Council Monday night. Mark Otter will open Luverne Welding and Machine after the state gives the final approval of the business subsidy agreement and use of Job Opportunity Building Zone tax breaks.Otter owns and operates a similar business in Pipestone.The Luverne School District and Rock County have already given their approval to the project. The deal also involved a JOBZ land swap from the former IBP ponds to a plot in the industrial park. The agreement also involves a $89,000 loan from the city.The JOBZ benefits will be in effect until Dec. 31, 2015.Some of the benefits of being in a JOB Zone are exemption from individual income taxes; exemption from state sales and use tax and any local sales and use taxes on qualifying purchases; exemption from the state sales tax on certain motor vehicles and local sales tax on motor vehicles, and exemption from some property taxes.Conditions to the business subsidy and tax breaks include: oThe business has to create two new full-time equivalent jobs by Dec. 31, 2006.oThe business has to provide each employee compensation, including benefits not mandated by law, that are equal to at least 110 percent of the federal poverty rate for a family of four.oThe business has to repay all JOBZ related tax benefits if it does not meet the goals identified in the agreement.oThe business must provide an annual business subsidy report.Otter said at the public hearing Monday that he looked forward to operating a successful business and would have an open house once the business got started.