Once the epicentre of North America’s cod fishery, service industries today account for the largest share of Newfoundland and Labrador’s GDP--especially financial services, health care and public administration. Other economic activity includes mining, offshore oil production, and manufacturing.
The Oceans Advance regional tech cluster in St. John's pursues the development and application of ocean and marine technology. This work is geared to solutions and efficiencies for safe and sustainable exploration, development, and use of ocean resources.
St. John’s is also home to Memorial University. More than 40% of the university's research is ocean related. The university’s Ocean Engineering Research Centre advances ocean engineering R&D, collaboration with ocean technology stakeholders, and technology transfer toward commercialization.