Com o desenvolvimento da actividade industrial, a partir da segunda metade do século XIX, a Lagoa irá assumir uma nova dinâmica económica, especialmente com a instalação das cerâmicas Vieira, dos Lacticínios, da Fábrica do Álcool e de alguns fornos de cal, promotores do Desenvolvimento da construção civil. Outras actividades de menor escala viriam a surgir, tais como alambiques, tanoarias, tendas de ferreiro, moagens, etc.
Since the beginning of the population of Lagoa, the major economic activities have included fishing, agriculture and the breeding of cows. Starting in the second half of the 19th century industrial activity began to play a more important role in the economy, especially with the opening of the ceramic industries, namely Vieira, milk industries, the Alcohol factory and a number of lime ovens. Smaller industrial units began to form, some related to the larger industries, including the manufacture of stills, tanning, blacksmithing, milling, etc.