The shutdown meant a loss of 180 full-time jobs. A reopening is still possible, but the parent company has not made a decision yet as to invest in the required repairs. The fishing industry is threatened by the moratorium imposed by the Canadian government on the catch of Atlantic cod. Fish plants have cut their operations severely over the past two years. The exception in this gloomy picture is the lobster fishery.
Catches are pretty good and prices have remained relatively steady.
Aquaculture is contemplated as an alternative to conventional fishing. The rather large lagoons of the archipelago are potential sites where some species could be raised. Small mussel farms have been established over the past few years. Tourism is a growing industry. In the seventies some 20,000 tourists visited the Magdalens every year.