The Watson Lake area has potential for economic gains from further forestry development and, possibly, the specialized manufacturing of wood products. Increased employment in this area hinges on completion of the Timber Harvesting Agreement. In May 2004 the Yukon government released the first blocks of timber for harvesting near Watson Lake. Oil and gas exploration has started to increase in the southeastern Yukon; this will provide some additional employment, either directly or indirectly through services to exploration crews.
Tourism shows considerable growth potential for the Yukon. Tourism is mostly a summer industry, but efforts are underway to increase the number of winter tourists coming to Watson Lake. The main target for winter tourism has been groups from Southeast Asia.
There has been some mining activity on a small scale. Exploration of the southeastern Yukon has increased recently. The discovery of gemstones (emeralds and blue beryl) in the region has added excitement. Several companies continue exploration work for volcanogenic massive sulphide deposits of copper, silver, gold, lead and zinc in the Finlayson Lake District. Exploration work continues at the Kudz ze Kayah property near Ross River but no production decision has been made. Gold exploration has increased in the Hyland River area.
Forestry, mining, and other resource sectors are increasingly working toward environmentally sustainable operations. There will be a growing need for both technical skills and sound management practice in resource industries. Tourism and ecotourism activities also need these skills. In addition, workers in all of these sectors require good communication skills.
Watson Lake is involved in an Internet project to increase its bandwidth.
