Duxbury oyster farm opening new venture in New Bedford. Here's what to know.

A Duxbury company that grows oysters for customers around the world is opening a new seafood venture in New Bedford.

The company, Island Creek Oysters, was founded by Skip Bennett, who planted his first oysters in 1995. Today, the company sells millions of oysters a year worldwide.

Island Creek Oysters is opening a cannery at 38 Blackmer St. in New Bedford to tin shellfish and fish in the Spanish conservas tradition, where the shellfish and fish are preserved in olive oil, brine and other sauces.

Island Creek has been working with Conservas Mariscadora, of Galicia, Spain, in marketing conservas in the U.S.

Island Creek officials told NPR that they hope to produce about a quarter-million cans of tinned seafood in the first year, and slowly work up to an estimated two million cans annually. They said there will be two types of tinned products, some meant to be eaten on the spot and others that will provide ingredients for other dishes.

Tax deal for Duxbury's Island Creek Oysters

Island Creek has a tax abatement agreement with New Bedford. The company is investing $715,000 and plans to create at least 12 new jobs in the next 12 to 60 months at the New Bedford site. The average annual wage for skilled labor positions is expected to be $45,000.

As part of the agreement, Island Creek will receive an exemption on property taxes on the assessed valuation of improvements to the property at 95% for the first year, 85% for the second, 75% for the third, 65% for the fourth, 55% for the fifth, 45% for the sixth, 35% for the seventh, 25% for the eighth, 15% for the ninth and 5% for the 10th.

According to a business plan presented to the city, Island Creek officials say they've been marketing the European products in the U.S. market over the past two years with great success.

Now they're ready to produce their own variety of canned products with local shellfish to compete with the European products.

The cannery will provide local shellfish farmers and fishermen consistent access to a market "while providing a shelf-stable, nutritious line of local value-added seafood products, contributing to a more diverse, sustainable and secure aquaculture industry."

The cannery will also provide local producers "with a stable market for supply gluts and unmarketable culls of different shellfish species," according to the business plan.

This article originally appeared on Standard-Times: Duxbury's Island Creek Oysters to open cannery in New Bedford