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From the smallest entrepreneurs to the largest corporations, business and industry in Kapuskasing are both essential to the town's development. 

Industry in Kapuskasing began and continues with Spruce Falls Inc.  Nevertheless, other industries have established themselves in Kapuskasing over the years.  Mining for example has appeared in the region with the new phosphate mine owned and operated by Agrium Inc.

Agriculture research and cold weather testing have also added to the economic development of the town.  The Experimental Farm continues its research after more than 75 years of work.  General Motors Cold Weather Development Centre has been testing vehicles in Kapuskasing's frigid winter temperatures since 1971.

TransCanada Pipelines Limited is another local player regularly infusing hard currency into the local economy as it expands its lines across the region. Hydroelectric power produced by the many unspoiled rivers is equally significant to Kapuskasing.