Various industries, from tool making to boat making, have been practiced in Iceland since the settlement.
In the second half of the 19th century, urbanization in Iceland increased. As the population of Akranes increased, the need for diverse services and efficient production methods increased. The fishing industry was still the basis of industry. Various jobs and professions were formed around it.
The first step in heavy industry was taken with the construction of the State Cement Factory, which for many years was one of the backbones of the business community in Akranes. In the 1970s, an industrial area was built by Grundartangi, which has increased employment opportunities in the area.