1) Fertile volcanic soils- the lower slopes of Mount Mayon, Philippines, are covered with rice field, coconut plantations, tomatoes+ other vegetables. Mayon's eruption in 1993 killed 75 people- all tomato farmers in the Bonga Valley (one of the areas declared off-limits by the government). Today- 20000 locals live+ farm within Mayon's Permanent Danger Zone.
2) Minerals in volcanic rocks- e.g. tin, silver, gold, copper, diamonds, etc. The money made by mining these minerals outweighs the risk of volcanic activity.
3) Geothermal energy- e.g. Iceland. 2008- 28% of electricity generation came from geothermal energy. The energy is so cheap, that in the wintertime, some pavements in Reykjavik are heated.
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