Mining continues to hold some long-term potential for economic development in the Ross River/Faro region. Faro lies at the northwest end of a strongly mineralised area that curves southeast towards Watson Lake. It passes through deposits bearing some of the famous names in Yukon base-metal mining. The Finlayson Lake district in southeastern Yukon is seen as having potential, and several companies are carrying out exploration work there. Ross River will likely benefit if current interest is justified. The Liard First Nation's agreement with the Kudz ze Kayah mine on hiring First Nations people should also have some impact in the Ross River area, if that mine starts up. Mining exploration, an indicator of future mining activity, has been significantly reduced over the past few years. At this time, there is no sign of the situation turning around. The Ross River Dena Council owns and operates a general store in the community and has signed agreements with mining companies related to development. Since there is a great need for long-term jobs in Ross River, the council is looking for other economic development opportunities.
Tourism is also a means of diversifying the local economy and providing employment for local people. While Ross River is off the beaten path of overseas tourists, there are opportunities to develop more tourism based on hunting, fishing, and adventure activities.
There are emerging occupations in Ross River in local administration and community development, which require financial, administrative, and planning skills. Tourism development will emphasize small business operations in fields like outfitting and guiding as well as accommodation and food services.
