Natural resources have always been important to the economy of Wisconsin. Very early settlers were fur traders, and the population of the territory expanded quickly when lead was discovered and began to be mined. By the early 1900s, the lumber industry began to be important in Wisconsin, and then businesses creating furniture, paper products and wagons. During the mid-1900s, the economy gradually began to shift away from agriculture toward manufacturing.

Wisconsin is a leading state in milk and cheese production. Other important farm products are peas, beans, beets, corn, potatoes, oats, hay, and cranberries. The chief industrial products of the state are automobiles, machinery, furniture, paper, beer, and processed foods. Wisconsin ranks second among the 47 paper-producing states. The state's mines produce copper, iron ore, lead, and zinc.