Cotton was an important cash crop. In 1901, Spiro had three cotton yards and one cotton gin. By 1910, there were three cotton gins and the population had grown to 1,173. As cotton cultivation became more mechanized, labor needs declined. The Great Depression of the 1930s took the heart out of the market. Timber harvesting and processing and livestock became important industries in the region. The population declined to 969 in 1930, as agricultural workers migrated to other areas for jobs. It rebounded to 1,365 by 1950 as the economy grew.