For the past six decades, Rayagada has seen institutions like IMFA, JKPAPER mills enriching the economy.
Rayagada has a great mineral source, with full of bauxite, silicon. According to a survey India has 56% of total bauxite storage of the world out of which Odisha has 62%. Out of that Rayagada has a 84% share. Depending on this, other industries like Birla, L&T, Sterlite showed an interest in Rayagada.
Rayagada is a destination for hotel industry: Hotels like Sai International, Jyotimahal, Vamsikrishna, Tejaswini, Kapilas, Raj Bhawan are a step ahead in this.
Besides these, small- and mid-scale industries enrich economy of Rayagada.Notable among them are Konark Alum Industries, Satyam Packers and Processors Pvt. Ltd.,etc.
Other industries like Jeypore Sugars Ltd., ferro manganese were supplementing economy of Rayagada, but due to shortage in supply these were closed. The jeypore sugars was established by the British which attracted loads of people from nearby states to Rayagada. The industrial atmosphere, great location and availability of resources around made Rayagada a prominent town in Odisha
