The major industry is fishing, primarily lobster and herring. Unlike neighbouring areas the peat moss on the island has not been harvested and is left in its natural state. There are several boardwalks and information areas located on the peat moss and other interesting natural habitats on the island. The island is also known for the Miscou Island Lighthouse, which was built in 1856 and is located at the northeastern tip of the island. In the summer it is open for guided tours. The lighthouse was designated a National Historic Site of Canada in 1974.