Balasore District is one of the economically strong District in Odisha, which is privileged in both agriculture and industry. In spite of being an agrarian economy, agriculture is the main stay of the people of Balasore. The District lies in the coastal part of Odisha and is blessed with hot and humid climate with alluvium soil and intersected by the perennial rivres, which collectively provides conducive infrastructure for the growth of agriculture in this region. In the recent years, the utilization of the wasteland for ensuring the economic development of Balasore District has been taken into consideration and it is being used for the production of coconut and betel. The local economy of Balasore District largely depends on the cultivation of paddy and wheat.
Though a major section of Odisha’s population depends on agriculture, industry is the nucleus of the economic development of Balasore District. With the establishment of D.I.C, functioning from the year 1978, the District has witnessed prominent success in the field of industrial development. It is the nodal agency for promotion and establishment of small, medium and large industries and as well as for the cottage and handicraft industries in the District.Ori Plast Limited, Jagannath Biscuits Private Limited, Odisha Rubber Industries and Odisha Plastic Processing are some of the award winning small scale units of the District. Birla Tyres, Ispat Alloys Limited, Emami Paper Mills Limited and Polar Pharma India Limited are some of the large scale industries which are contributing in a big way towards the growth of the economy of the District.