Oil & natural gas exploration and extraction are the major natural resource industries in the County. Other natural resources that are being extracted are salt by the Canadian Salt Company, peat moss by Lakeland Peat Moss Processors, timber from private and public lands, and gravel.
Agriculture is the main industry in the County, with approximately 1,179 farms producing everything from grain and specialty crops to domestic and specialty livestock. The County producers grow mainly course grains such as wheat, oats, barley and canola. Pea field acreages have also been on the increase over the last few years. Forage and grassland are also very important to area producers. In the 3 years that PFRA had their Permanent Cover Program, the County saw approximately 40,000 acres of hay and pasture land seeded. There is also a small percentage of acres seeded to specialty crops such as alfalfa, timothy and canary seed for seed production. The livestock industry is just as diverse as the grain production industry. Beef cattle production is quite large with the average beef producer feeding 100-200 cow-calf pairs per year, but there are also larger feedlot operators feeding from 500-2000 head of cattle per year. There is also a large number of dairy, hog and poultry farms within the municipality.
The construction industry is also important. Most projects relate to agricultural or residential development as well as some oil field construction.
The tourism and recreation sector is a growing industry in the County. The Lakeland Tourist Association is active in increasing awareness of tourism and joint promotion of the Lakeland area. Efforts are underway to develop local historical resources. Some provincial historic sites include Fort de L'ile 11[1799-1801] in the Myrnam area, Fort George-Buckingham House in the Elk Point area, and the Frog Lake Massacre Site in Frog Lake.
In the smaller communities, the retail and service sector is the most important source of employment. Primary services such as service stations, general stores, restaurants and hardware outlets are common.