LaFayette officials stress the importance of economic development and downtown revitalization.  The Main Street and Economic Development office is housed in Chattooga Academy, built in 1836 and listed on the National Register of Historic Places; the building recently underwent extensive restoration and rehabilitation to convert it into the Main Street office and a historic schoolhouse museum.
 
The city was designated as an official Main Street Community in 2007.  The program has received national accreditation by meeting National Trust for Historic Preservation standards in all areas of the Trust's 4 Points Approach:  Organization, Economic Restructuring, Promotion and Design. 
 
Main Street uses historic preservation as a tool for downtown revitalization. Main Street activities include historic district research, designation and design standards; planning and hosting downtown events; educating the community about its history, historic resources and historic preservation; fundraising; recruiting, retaining and promoting downtown businesses; promoting downtown as a destination for shopping and dining; promoting tourism; promoting the arts through the Georgia Made Georgia Grown initiative; encouraging economic re-investment in downtown through building rehabilitations, restorations and compatible new construction; and coordinating activities with other groups.  These programs are administered under the umbrella of LaFayette's Downtown Development Authority, and the city's Historic Preservation Commission coordinates with the DDA on preservation and design projects.  The Main Street director works with both boards.
 
Recruiting and retaining business and industry usually determine a city's success.  The Main Street and Economic Development director markets the city to perspective industrial firms, as well as working with small businesses. 

General Electric division Roper Corp. produces ranges.

The director works closely with the Northwest Georgia Joint Development Authority to assist existing industries with any expansion plans or problems they have regarding financing, training, land acquisition or building.  Industries in the city include Syntec, Unique Fabricating South, BlueBird North Georgia, Shaw Industries Inc. and Roper Corp., which manufactures ranges and is one of the largest employers in Walker County.  
 
The director works closely with the Georgia Department of Economic Development, Walker County Chamber of Commerce, Northwest Georgia Arts Guild, Hope Productions and several other organizations.