The Town of Slave Lake's economy is primarily driven by industries such as forestry, oil and gas, tourism, and retail. Some of the significant employers in the region include the Government of Alberta, the Lesser Slave Lake Regional Forest Management Plan, Northern Lakes College, and the Slave Lake Pulp Mill. Additionally, there are several small businesses in the town, including local retailers, restaurants, and service providers. The town also has a thriving tourism industry, with many visitors coming to enjoy the beautiful natural scenery of the area, including the nearby Lesser Slave Lake and the surrounding forests.