Tourism is important to Somerset, due to its proximity to Lake Cumberland and other events. Lake Cumberland alone generates approximately $150 million in revenue each year, though the industry has been greatly impacted in recent years by the U.S. Army Corps of Engineers' work on the Wolf Creek Dam. Since 2007, Lake Cumberland has been at low levels to facilitate the Corps work. . The city holds the annual Master Musicians Festival. The Civil War Battle of Mill Springs took place in nearby Nancy and the reenactments held there often draw large crowds. In November 2006, the Mill Springs Battlefield Visitor Center and Museum opened. Their efforts focus on the preservation of the battlefield while providing educational resources to visitors.