By 1863 Valley Falls had established itself as a mini-industrial center. In addition to the aforementioned Thompson textile mill, the village also had a blacksmith shop, farrier shop, foundry, wainwright shop, cooperage, vineyard, three general stores, and two hotels. At this time only a single rail line (Troy & Boston RR) from Troy came through the southern limit of the village heading to Johnsonville, New York. Later, a second rail line from Schaghticoke would follow the Hoosic River past Thompson's Mill also heading to Johnsonville. By the early 1970s the southern rail line was completely abandoned and had been largely dismantled; the northern line still functions to this day. However, with the closing of the Thompson mill the train no longer stops in Valley Falls.