The community's economic is based heavily on agriculture and agro-related industries.  Local agricultural producers grow many different crops which include the usual cereal grains and oilseeds as well as many specialty crops grown to supply several different industries.  The area around MacGregor is also well suited to livestock production.  The area is home to several good-sized cattle operations.  Several producers grow alfalfa and other forage crops to supply local cattle producers.

The community is home to small manufacturing firms and a number of home based businesses.  These shops produce items such as custom cabinets, and farm machine components.

The Town of MacGregor also offers small retail services and educational facilities such as a nursery school, collegiate and private day-cares.