L. C. Owen was born on 1 November 1822 in Charlottetown, the son of Thomas Owen adn Ann Campbell. As a young man he spent several years with the mercantile business of James Peake and Co. of Charlottetown before establishing his own shipbuilding enterprise. He maintained his involvement with this industry for most of his life, much of the time in conjunction with his brother-in-law, William Welsh, in a prominent Island firm known as Welsh and Owen. He was also involved in many other business ventures and served as a Director of the Merchants Bank of Prince Edward Island, the Charlottetown Steam Navigation Company, and the Marine Insurance Company.

In addition, L. C. Owen was prominent in the political history of his time. Upon his father