In Beaver City, the Beaver Woolen Mills, which operated from the 1870s to the turn of the century, found Frisco an important market for its products, especially blankets. The Beaver Co-op store, once one of the the largest mercantile establishments south of Salt Lake, opened in 1872 and profited from mining and transportation activity. Former Union Pacific Railroad Depot in Milford. Transportation continues to be important to the local economy. In the 1980s the county's geothermal resources began to be tapped when an electric power generating plant using natural steam was built northeast of Milford.
Recreation also adds to the economy.