While the Government of Alberta is the largest employer in the town, with over 15 government departments located within its municipal boundaries, it is followed in close second by resource extraction, principally forestry, agriculture, oil and gas and their support services. Over the years, Peace River's economy has expanded to include professional services, manufacturing, health/social services and construction. Major construction companies in the Town of Peace River include Ruel Bros. Contracting, T.H. Gust Builders Ltd. and Glen Armstrong Construction. LaPrairie Works is based in nearby Grimshaw. Among the larger heating and air conditioning contracting companies located in the Town of Peace River is Peace River Heating (1971) Ltd.