Located approximately 110 kilometres (68 mi) north of Winnipeg, the community held village status prior to January 1, 2015.

The Freshwater Fish Marketing Corporation operates a fish-packing factory on the banks of the Icelandic River, which passes through the centre of Riverton.

Other industries include agriculture and the service sector, with manufacturing being done by ECB (Erosion Control Blanket) a distant third.

Being in a unique position on the west shore of Lake Winnipeg, Riverton services the northern communities via a winter road.

It is on the way to Hecla-Grindstone Provincial Park and many people from Winnipeg stop in or pass by the community on the way to cottage country each summer.