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The economy of Summerside fared well during the war period. The expanded population due to RCAF Station Summerside was a major factor in the local economic boom. Businesses prospered and many householders made money by renting rooms or apartments to military personnel.

The town coffers showed an increase mainly due to the expansion of the electric plant to provide service to the RCAF Station in North St. Eleanors as well as to the Mount Pleasant Station. Municipal accounts from 1941 to 1945 showed a healthy surplus every year. The town was able to make several large purchases of Victory Bonds during that time.

Two small war-related industries opened in the town and other industries received a boost with wartime contracts. The downtown area around Water Street was the centre of economic activity. Retail stores thrived despite shortages of goods. Service firms were busy. The theme of economy has been divided into the following sections: Industries and Water Street