As with much of rural Newfoundland, Channel-Port aux Basques has seen a contraction of the local economy after the downsizing and closure of many significant industries in recent years. The community has lost the railway and the majority of its fishing industry within the past two decades. This has left one major economic contributor in Marine Atlantic. This company has seen employment growth in recent years and remains the foundation of the regional economy. To promote growth and diversification within the economy, Council has embarked on a Strategic Economic Plan. The aim of this process is to identify potential economic development opportunities that will provide stability. With a clear vision for the future of the economy, the Town can work toward enhancing the prosperity of the community.
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- Canada
