When Hailey was founded in 1881, it was one of many boomtowns that sprang up as a result of the lead-silver rush in the northwestern United States. The city was named for John Hailey, a successful entrepreneur who operated a freight hauling business before the railroad reached the Wood River Valley. The new town's strategic location—in proximity to surrounding, rich lead-silver deposits and at the junction of the Wood River and Croy and Quigley Canyons—allowed Hailey to become a bustling center of commerce and mining. Over the years, Hailey grew and changed with the rise and fall of the local mining and sheepherding industries. In recent years, Hailey has reinvented itself yet again, with tourism as the mainstay of the local economy. More than 130 years after its founding, Hailey remains a vibrant and energetic community in the heart of the Wood River Valley.