The school was opened in 1885 but ceased operation in 1933 due to decreasing enrolments. The New Italy settlers built mud brick houses, a church, school and community hall in traditional style of northern Italy. Due to its remote location the population of settlements was stagnant. In the 1930s a Park of Peace was established to remember the pioneers of the settlement. In the late 1950s the regional significance of the settlement began to be recognised. The Bicentennial Museum was opened in 1989. Following the World Expo in Brisbane in 1988 the Italian government presented the contents of their Expo Pavilion to the New Italy Centenary Committee and the Italian Pavilion at New Italy was opened in May 1993. The Museum presents the history of Italian migration to Australia and the memorabilia from the New Italy settlement.