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Prospect is a small suburb of Launceston.
The Mount Pleasant Laboratories are Tasmanian government laboratories located in Prospect and include:
Diagnostic Services - Researching the Tasmanian devil facial tumor disease
Animal Health Laboratory
Water Microbiology Laboratory
Veterinary Pathology and Fish Microbiology
Seed Laboratory and Certification
A sawmill, stonemason, Tasmanian Independent Retailers state distribution centre dominate the area. There are a number of restaurants and shops along Westbury Road - Prospect's main commercial corridor - including Supa IGA. The Silverdome Complex is a multi use facility incorporating an indoor cycling track, netball courts and concert seating. The home of the Tasmanian Institute of Sport Offices.