The settlement of Stonewall was found in the 1800's as a major limestone production centre. Stonewall still proudly maintains its heritage of limestone production through their many historical buildings. Main Street is lined with notable limestone buildings such as the Old Post Office Building and the Town Hall. One of the abandoned quarries has been beautified and developed into the Stonewall Quarry Park. The park preserves much of Stonewall's history.
In the 1960's, Stonewall began to diversify its economy and move away from its dependence on limestone. Planning and careful development have resulted in a prosperous community, with a positive and diverse economic environment.
Many different sectors drive the economy of Stonewall. Although the needs for limestone have diminished, many other businesses have moved in to sustain Stonewall's economy. Stonewall's businesses provide supplies and services to the local agricultural community.
Main Street is lined with many types of businesses that provide a wide array of goods and services. Stonewall's retail market is strong and diverse enough to support the shopping needs of the Town and surrounding areas.
Stonewall also has an industrial business park. Local industries are supplied with natural gas and electric power in the industrial park.