The early urbanisation and development of Ivybridge largely coincided with the Industrial Revolution. Stowford Paper Mill was built in 1787 and rebuilt again in the 1860s with extensive investment. In 1848 the railway arrived on the northern edge of the village Devon Railway Company. The paper mill closed in 2013 after 226 years in Ivybridge and the buildings are being converted to homes and shops. Ivybridge is often referred to as a commuter town, although a small proportion of people work in the town itself, and agriculture continues to play an economic role for the surrounding area. The area surrounding Ivybridge is varied and complex, including river valleys, farmland and dense woodland.