With the decline in use of railroads to ship goods, along with increasing automation in the mining industry, the town has recently seen its fortunes dwindle and has undertaken a major effort to reinvent itself. Tourism has become a major economic force in the region, and the town's proximity to the Blue Ridge Parkway, combined with its location near the edge of the Blue Ridge Escarpment has helped make Spruce Pine a travel destination for many. The town also boasts the moniker of "The Mineral City of the World"