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The Economy 2002 - Newfoundland and Labrador

Triton’s 
economic 
base is 
diversifying within and beyond the 
marine sector

Credit: Fishery Products International
Fishery Products International crab processing plant at Triton

www.nfcap.nf.ca/central/Triton/main.htm
 
First settled in the early 1800s, Triton, located in Notre Dame Bay, was incorporated in 1961. In 1980, four distinct communities—Triton West, Triton East, Card’s Harbour, and Jim’s Cove—amalgamated and formed the town of Triton. 

Diversifying the Economic Base
Triton, with its many service sector businesses (e.g., restaurants, accommodations, grocery stores), serves as the local service centre for over 2,800 people in the surrounding area. Until the 1992 cod moratorium, Triton’s economy was centered on the groundfish fishery. In 1997 and 1998, Fishery Products International, the owner of the local plant, invested $4 million to convert the facility to crab processing. This facility now employs over 400 people at peak production. Aquaculture is also expanding, with 30 approved mussel farm sites in the area. Triton Ocean Products, a locally owned company, recently opened a secondary mussel processing plant with plans to employ up to 70 people. 

Triton’s economic base is diversifying. The Triton Marine Service Centre, formerly a government-owned and operated vessel repair and holding centre, was privatized in 1994. The facility, now known as Universal Marine Ltd., employs up to 65 people and is involved in marine fabrication and boatbuilding. The centre can design and build vessels up to 100 feet in length. Expansion plans are now in place to include recreational vessel design and construction. DRL Coachlines, the provincial island-wide bus service, also has its head office and repair garage at Triton, employing 40 people locally and 120 across the province.

 
 
Triton is also developing recreational and tourism infrastructure. Among other initiatives, the town is in the second phase of developing a museum and interpretive centre which will display artifacts of local history as well as highlight the importance of natural resources in the community’s economic and cultural development. The town also hosts an annual Capelin Cod Festival which attracts hundreds of people from across the province each year.
 
Community Indicators

Triton  Province
Population (1998) 1,215 545,362
Population Components (1998)
    School Age Children  31%  29%
    Prime Labour Force (25-54)   47%  46%
    Seniors (65+)  9%  12%
Education Attainment (1996)
    Completed post secondary   9%  30%
    High school / some post secondary   24%  24%
    Less than high school   66%  45%
Income (1998)
    Median personal income   $15,400  $14,700
    Median family income   $34,800  $27,600
Education Enrollment
    1996   146  106,205
    2001   105  90,167

Source: Community Accounts Database; Department of Education; Statistics Canada
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This information was current as of March 11, 2002.
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